CAE reports Q3 adjusted EPS C$0.24 vs. C$0.27

Reports Q3 revenue C$1.095B vs. C$969.9M last year. Our performance in the third quarter reflects strong underlying demand for our Civil market solutions, and points to the ongoing progress to transform our Defense business. We also generated strong free cash flow, enabling us to bolster our financial position in line with our leverage targets,” said Marc Parent, CAE‘s President and CEO. “Further securing CAE’s future, we booked nearly $1.3B in total order intake during the quarter, for an $11.7B backlog. In Civil, orders were $845 million, for a 1.36 times book-to sales ratio, including 20 full-flight simulator orders, new training partnerships with marquee airlines such as Air France KLM Group, and over $300M of business jet training orders. We have considerable headroom for growth in the civil aviation market and our continued positive momentum underscores the strong demand for CAE’s highly differentiated training and flight services solutions and our ability to win share within this large secular growth market. In Defense, performance was consistent with our expectations at this point on the path toward being able to generate higher margins. We continued to replenish our backlog with more profitable work and sought to further accelerate the retirement of outstanding program risks, mainly associated with certain legacy Defense contracts that we entered into pre-COVID and have been most impacted by economic headwinds.”