CAE Shares Surge After Q1 Results: 'Secular Tailwinds In All Segments'
Portfolio Pulse from Akanksha Bakshi
CAE Inc. reported Q1 FY24 sales growth of 13% YoY to $784.91 million, beating the consensus of $762.48 million. Adjusted EPS was $0.18, beating the consensus estimate of $0.16. Adjusted segment operating income increased 138% YoY to C$145.1 million. Sales by segments: Civil Aviation C$540.3 million (+12% YoY); Defense and Security C$471.76 million (+14% YoY); and Healthcare C$42.4 million (+7% YoY). The company expects Defense to continue growing its Backlog with larger and more profitable programs.
August 09, 2023 | 3:36 pm
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CAE Inc. reported strong Q1 FY24 results, beating consensus estimates for sales and EPS. The company also expects continued growth in its Defense segment.
CAE Inc. reported strong Q1 FY24 results, with sales growth of 13% YoY and adjusted EPS beating consensus estimates. This positive earnings report, along with the company's expectation of continued growth in its Defense segment, is likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100