CAE Q4: Earnings Beat, 32% Revenue Growth & More

  • CAE Inc. 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
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