Wings Magazine

News Training
CAE tops earnings predictions in first quarter amid renewed demand in civil aviation

August 9, 2023  By The Canadian Press

MONTREAL — CAE Inc. is reporting a 13 per cent spike in revenues as commercial aviation bounces back following a prolonged pandemic downturn.

The builder of flight and health simulators says net income attributable to equity holders in the three months ended June 30 rose to $65.3 million from $1.7 million in the same period a year earlier.

That quarter in 2022 saw its income statement marred by supply chain problems and writedowns on a pair of pricey defence projects.

On an adjusted basis, CAE says earnings in its first quarter hit 24 cents per share compared with six cents per share a year prior, beating analyst expectations of 21 cents per share, according to financial markets data firm Refinitiv.


The Montreal-based company says first-quarter revenue rose to $1.05 billion from $933 million the previous year.

Chief executive Mark Parent says double-digit growth in its civil aviation segment bolstered earnings and boosted CAE’s adjusted backlog by 12 per cent to a record $11.18 billion.

News from © Canadian Press Enterprises Inc., 2021


Stories continue below