Canadian Manufacturing

CAE reports Q2 profit compared to a loss a year ago

CAE announced a deal last month to buy the AirCentre airline operations business from Sabre Corp. for US$392.5 million.

November 11, 2021  The Canadian Press

On Nov. 11, CAE Inc. reported a profit in its latest quarter compared with a loss a year ago as its revenue grew 16 per cent.

The company says it earned a profit attributable to shareholders of $14.0 million or four cents per diluted share for the quarter ended Sept. 30, compared with a loss of $5.2 million or two cents per diluted share a year ago.

Revenue in what was the company’s second quarter totalled $814.9 million, up from $704.7 million.

On an adjusted basis, CAE says it earned 17 cents per share in its most recent quarter compared with an adjusted profit of 13 cents per share in the same quarter last year.

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Analysts on average had expected CAE to report an adjusted profit of 20 cents per share and $899.7 million in revenue, according to financial markets data firm Refinitiv.

CAE announced a deal last month to buy the AirCentre airline operations business from Sabre Corp. for US$392.5 million. The business includes software used by airlines to help in crew and flight management as well as the optimization of aircraft use and airport management.