Overview
- Alstom, which cut its 2025–26 outlook Thursday night, closed Friday down 27% at €16.64 after an early plunge.
- It booked an extra provision for late train deliveries and lowered its adjusted operating margin view to about 6%, down from roughly 7%.
- The company also scrapped its three‑year free cash flow goal to 2026–27 and said it no longer expects to reach an 8% to 10% margin by then.
- The late update hit trading at the open, when about 462 million shares changed hands and the stock was briefly untradable, according to boursier.com.
- New CEO Martin Sion said orders and cash goals were met but profitability missed.