CGI Inc. reports Q4 adjusted EPS $1.79, consensus $1.29

Reports Q4 revenue $3.51B, consensus $2.6B. Reports Q4 bookings of $4B, for a book-to-bill ratio of 113.9% and backlog of $26.06B or 1.8x annual revenue. “CGI’s resilience and strong positioning-strategically, operationally, and financially-underpinned our team’s ability to deliver on our profitable growth plan for the fourth quarter and fiscal year 2023,” said George Schindler, president and CEO. “During Q4, clients prioritized cost savings and modernization initiatives, driving a 26% increase in new CGI managed services bookings compared to last year. As we look ahead, we are taking the actions necessary to further strengthen our capacity to continue delivering value for shareholders. This includes cost optimization and strategic investments to advance the next wave of innovation and growth, including the responsible use of AI, a key enabler for bringing the right mix of our end-to-end offerings to clients to help them generate the ROI necessary from their digitization initiatives.”