Tag: Transportation Equipment

French train maker Alstom, slashed its full-year outlook and launched a €2 billion ($2.2 billion) debt cutting plan on Monday, sending its shares sharply lower, after a review of troubled projects uncovered deeper-than-expected problems in Germany.

France’s Alstom (ALSO.PA), has received a 2 billion euro ($2.4 billion) order from the New York Metropolitan Transportation Authority (MTA) to supply M-9A railcars for the Long Island Rail Road and Metro-North Railroad, the train maker said on Friday.

French train maker Alstom said on Monday it had completed the sale of its North American conventional signalling business to Knorr-Bremse for $690 million.

The German truck maker posted better-than-expected pre-tax earnings of $5.5 billion euros for 2023, up 39% on the previous year’s 4.4 billion.

Knorr-Bremse shares traded higher after the company reported better-than-anticipated results and issued guidance that analysts saw as ahead of consensus expectations.

Alstom shares plunged by a fifth at one point on Wednesday after the train maker said it would sell assets, cut jobs and consider a capital raise after a cash flow warning in October increased concerns about the company’s debt level.

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