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- CAE Inc. (NYSE:CAE) reported fourth-quarter FY23 quarterly sales of $929.45 million, which beat the analyst consensus estimate of $882.41 million. Sales improved 32% year over year.
- Adjusted EPS of $0.26 beat the analyst consensus estimate of $0.25.
- Sales by segments: Civil Aviation C$661.4 million (+53% Y/Y); Defence and Security C$536 million (+14% Y/Y); and Healthcare C$59.1 million (+12% Y/Y).
- Adjusted order intake for the quarter increased by 11% Y/Y to C$1.47 billion, and adjusted total backlog increased by 13% Y/Y to C$10.80 billion.
- Gross profit rose 33.2% to C$361.8 million. The operating income doubled Y/Y to C$186.6 million.
- During the quarter, Civil segment signed training and operational support solutions contracts valued at C$841.5 million.
- "Our expanded capabilities are enabling us to gradually convert our Defense backlog with larger and more profitable programs, exemplified by our recent key training and simulation wins in support of U.S. Army and Air Force aviation," said CEO Marc Parent.
- "As we look ahead, we are well on track to our targeted three-year (FY22-FY25) EPS compound growth rate in the mid-20% range."
- Price Action: CAE shares are trading lower by 6.1% at $20.66 on the last check Wednesday.
- Photo Via Company
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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