Cargojet earns $29.7 million in third quarter, revenues also rise
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 04/11/2024 (397 days ago), so information in it may no longer be current.
MISSISSAUGA, Ont. – Cargojet Inc. says it earned $29.7 million in the third quarter, almost triple the $10.5 million it earned a year earlier.
The Mississauga-based air freight and plane leasing company says its revenues totalled $245.6 million, up 14.8 per cent from $214.0 million during the same quarter in 2023.
Diluted earnings per share were $1.78, up from 61 cents a year earlier.
Co-chief executive officer Jamie Porteous said the company benefitted from interest rate cuts and cooling inflation.
Porteous said these factors are helping foster a more stable and optimistic economic outlook for Canada.
However, he added that geopolitical uncertainty is affecting the entire transportation industry and that Cargojet is not immune to significant cost increases facing aviation companies and supply chains.
This report by The Canadian Press was first published Nov. 4, 2024.
Companies in this story: (TSX:CJT)