Cargojet earnings date
Cargojet (CJ8A) Q3 2026 Earnings Report
DE:CJ8A Q3 2026 EPS Results
- Actual EPS
- EUR 0.77
- Consensus EPS
- EUR 0.54
- Beat/Miss
- Beat by +EUR 0.22
- One Year Ago EPS
- EUR 0.20
DE:CJ8A Q3 2026 Revenue Results
- Actual Revenue
- EUR 181.19M
- Expected Revenue
- EUR 171.32M
- Beat/Miss
- Beat by +EUR 9.87M
- YoY Revenue Growth
- +30.29%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/11/2026
- Time
- After Close
- Conference Call
- Wednesday, November 11, 2026
Cargojet's next earnings date is estimated for March 1, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was strongly positive. Cargojet delivered record revenue and adjusted EBITDA, triple-digit net earnings growth, improved ROIC, lower leverage, strong operational reliability and substantial growth in its ACMI and charter businesses. Management also outlined international expansion and asset-utilization opportunities using the existing fleet. The main challenges were lower year-over-year free cash flow, fuel-related margin dilution, higher crew costs, the expected reduction in UPS supplementary flying, contractual limits on pricing and ongoing market uncertainty.
Cargojet expects peak season demand to be broadly comparable to 2025 peak, with a similar step-up in domestic revenue in Q4; hybrid ACMI performance is expected to continue delivering performance broadly consistent with the past 2 quarters; supplementary UPS capacity is expected to reduce significantly following the fourth quarter, with replacement flying expected to place returned assets within the first quarter; the Hamilton–Miami scheduled charter service will operate 3 times weekly beginning December 2, using the existing fleet with no CapEx coming to handle this new business; growth CapEx will be considered when opportunities generate the required ROIC, while leverage remains within the target range at the top end; and pilot-agreement productivity benefits will be implemented over the coming quarter as well, coming quarters, with more normalization expected in the first quarter.
- Record Third-Quarter Financial ResultsCargojet reported record third-quarter revenue of CAD 286.5 million and record adjusted EBITDA of CAD 90.2 million. Net earnings increased 117% year-over-year to CAD 19.1 million, and free cash flow was CAD 62.1 million.
- Strong Revenue Growth Excluding Fuel Pass-ThroughExcluding the impact of fuel price increases versus the third quarter of 2025, revenue was CAD 265.9 million, an increase of CAD 46 million or 20.9% year-over-year.
- Operational Reliability and Customer RecognitionOn-time performance reached 99.3% during the quarter. Cargojet also received the 2026 Shippers' Choice Award in the air freight category, reflecting customer trust and confidence.
- Domestic Overnight Network GrowthDomestic overnight revenue was CAD 105.9 million excluding CAD 5.3 million of fuel price pass-throughs, representing year-over-year growth of 6.3% and a sequential increase of 1% versus the second quarter of 2026. October domestic volumes remained strong, and customer forecasts indicated encouraging visibility entering peak season.
- Positive Domestic Peak-Season OutlookCargojet expects peak-season demand to be broadly comparable to the 2025 peak and stated that it is prepared to execute reliably and efficiently through the period.
- Improved Hybrid ACMI PerformanceHybrid ACMI revenue was CAD 60.5 million, up 10.8% both sequentially and year-over-year. Management said performance had become increasingly consistent and viewed the turnaround as sustainable, citing increasing global trade, new trade lanes and more flying from several customers.
- Significant Charter Revenue GrowthCharter revenue was CAD 61.9 million, up 13.2% versus the second quarter and 88.1% year-over-year. Growth contributions included the additional midweek Liege frequency, the extension to Tel Aviv, flying to Central and South America, UPS support flying and weekend charter flights to China.
- Expansion of International Network ConnectivityCargojet announced a scheduled charter service between Hamilton and Miami operating three times weekly beginning December 2. The service is intended to connect freight from Europe, China and Cargojet's domestic network to South America, and the company had already secured volume commitments from existing customers.
- Miami Service Uses Existing Fleet Without New CapExManagement stated that the Miami service will use Cargojet's existing aircraft and that there is no intention to purchase new aircraft for the business. The company is using aircraft during periods when they are available from domestic overnight and ACMI operations.
- Effective Asset Utilization and Network FlexibilityCargojet is managing its domestic overnight, hybrid ACMI and charter operations as interconnected resources to match capacity with demand, improve aircraft productivity and pursue higher-quality revenue. Management also highlighted the ability to reposition aircraft within the network and avoid ferry flights when shifting aircraft for maintenance.
- Replacement Opportunities for UPS FlyingAlthough supplementary capacity provided to UPS following the MD-11 disruption is expected to reduce significantly after the fourth quarter, Cargojet has secured additional flying opportunities, including new South American contractual routes that have already commenced and additional flying to China. Management said it expects to replace the UPS flying and hopes to have placements for the returning assets within the first quarter.
- Deleveraging and Improved Return on Invested CapitalNet leverage ended the quarter at 2.5x, within Cargojet's long-term target range, meeting its previously stated goal for the end of 2026. Return on invested capital improved to 5.8% from 5.0% in the second quarter, primarily driven by higher net operating profit after tax.
- Shareholder Returns and Capital AllocationCargojet repurchased 76,749 shares under its NCIB during the third quarter and renewed the NCIB for another year. Management reiterated capital allocation priorities that include continued dividend growth, shareholder returns through the NCIB and prudent growth when opportunities meet the required ROIC hurdle.
- Revenue Quality and Pricing InitiativesManagement said it is assessing products and lanes, opening contracts where possible and realigning pricing for new customers and selected business to improve revenue quality.
- Pilot Capacity and Productivity PlanManagement stated that Cargojet has enough pilots and operates two simulators in Hamilton, with some simulator capacity used by other carriers. The company expects additional productivity gains as the new pilot agreement is fully implemented and related scheduling software changes are completed.
- Commitment to Safety and Continuous ImprovementCargojet reiterated that safety, operational excellence and regulatory compliance remain core priorities. Management also said that its One Fleet and One Network strategies, revenue-quality focus, asset utilization, operating efficiency and capital discipline are becoming increasingly embedded in the business.
DE:CJ8A Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 01, 2027 | 2026 (Q4) | 0.93- | 0.93 | ― | ― |
| Nov 11, 2026 | 2026 (Q3) | 0.540.77 | 0.2 | 278.13% (+0.56) | |
| Aug 10, 2026 | 2026 (Q2) | 0.520.42 | 0.65 | -34.31% (-0.22) | |
| May 04, 2026 | 2026 (Q1) | 0.530.38 | 1.02 | -62.96% (-0.65) | |
| Feb 24, 2026 | 2025 (Q4) | 0.630.93 | 1.08 | -14.04% (-0.15) | |
| Nov 04, 2025 | 2025 (Q3) | 0.550.20 | 0.94 | -78.38% (-0.73) | |
| Aug 06, 2025 | 2025 (Q2) | 0.640.65 | -0.03 | 2140.00% (+0.68) | |
| Apr 23, 2025 | 2025 (Q1) | 0.681.02 | 1.18 | -12.90% (-0.15) | |
| Feb 17, 2025 | 2024 (Q4) | 1.001.08 | -0.09 | 1321.43% (+1.17) | |
| Nov 04, 2024 | 2024 (Q3) | 0.710.94 | 0.19 | 393.33% (+0.75) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
