Bombardier reports Q2 2020 cash usage is USD 500m better than expected

Bombardier (TSX: BBD.B) has reported cash usage in the second quarter 2020 was approximately USD 500 million better than previously expected, the company said.

As of June 30, 2020, cash on hand and liquidity were approximately USD 1.7 and USD 2.4 billion, respectively.

Bombardier expects second quarter 2020 pro-forma liquidity of approximately USD 3.4 billion (which includes the addition of a new credit facility), reflecting approximately USD 1.0 billion of free cash flow usage in the second quarter.

Bombardier offers products and services that provide transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety. In the fiscal year ended December 31, 2019, Bombardier posted revenues of USD 15.8 billion.