CAE profits fall as supply-chain headwinds persist
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 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
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.99/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 $19.95 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 13/08/2024 (578 days ago), so information in it may no longer be current.
MONTREAL – CAE Inc. is reporting a big drop in profits for its latest quarter as the company grapples with supply-chain constraints.
The flight simulator maker says net income attributable to shareholders fell 26 per cent to $48.3 million in the quarter ended June 30 from $65.3 million in the same period a year earlier.
The Montreal-based company says its revenue rose six per cent to $1.07 billion from $1.01 billion the year before.
CAE says adjusted earnings in its first fiscal quarter decreased 13 per cent to 21 cents per share from 24 cents per share last year.
CAE chief executive Marc Parent says the company’s more than 50 per cent year-over-year backlog growth to $17 billion speaks to a sunny horizon despite “supply-chain headwinds.”
The company says it is targeting about 10 per cent growth in adjusted operating income for its civil aviation segment this year and annual revenue growth in the low- to mid-single-digit range for its beleaguered defence business.
This report by The Canadian Press was first published Aug. 13, 2024.
Companies in this story: (TSX:CAE)