Alstom forecasts softer cash flow after strong annual beat, shares fall
(Reuters) -French train maker Alstom reported an annual free cash flow well above market expectations on Wednesday, in a sign its cash issues were now solved, but its shares slumped after its forecast for the current year disappointed investors. Alstom, which had taken long to recover from its costly 2021 acquisition of Bombardier's rail business, reported a free cash flow of 502 million euros ($561.6 million) for the year that ended on March 31, ahead of the 330 million analysts polled by the company had expected. The earlier cash issues had been partly due to Alstom inheriting problem contracts through the acquisition.