Shares Of Ottawa LRT-Builder Alstom Plunge

 

This is not the worst news Ottawa’s troubled light-rail project could have but it’s very bad.

Alstom built the trains for Ottawa’s problem-plagued commuter train:

Shares of French train manufacturer Alstomplummeted 35% on Thursday, according to LSEG data, after the company slashed its free cash flow forecast.

In unaudited half-year results released on Wednesday evening, the company said its free cash flow had fallen from negative 45 million euros ($47 million) to negative 1.15 billion euros. It also said it now expects free cash flow in a range of negative 500-750 million euros for the full year, compared to a prior forecast of “significantly positive.”

Trillium Line Late, But Not Rushed: WHOPPER WATCH


Trading of Alstom shares was briefly suspended at the open of the Paris Stock Exchange.

To read the story from financial website CNBC, click here.

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1 Response

  1. The Voter says:

    So those of us who chose to hedge our bets with Alstom shares to try and balance out the losses from the LRT’s non-availability are still going to get screwed, They get you coming and going, don’t they!

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