Canada · Delayed Price · Currency is CAD Cargojet Earnings Call Transcripts
Fiscal Year 2026
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Revenue and Adjusted EBITDA grew year-over-year, driven by strong domestic, charter, and international performance, despite fuel and labor cost headwinds. Free cash flow improved, leverage declined, and a new five-year pilot agreement was secured, supporting long-term operational stability.
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Q1 2026 saw 2% revenue growth to CAD 254.7 million, robust Adjusted EBITDA, and strong free cash flow despite global disruptions and fuel volatility. Charter revenue surged 26% on new routes, while disciplined capital allocation reduced net debt and supported ongoing growth.
Fiscal Year 2025
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Strong Q4 results driven by domestic e-commerce growth and disciplined cost control offset global trade headwinds. New charter opportunities and fleet optimization replaced suspended China contract revenue, while CapEx and leverage remain tightly managed.
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Leadership transition advances as domestic revenue grows 6% year-over-year, offsetting declines in ACMI and charter segments. Adjusted EBITDA margin remains strong at 32%, with minimal growth CapEx expected for 2026 and a focus on disciplined cost management.
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Long-term contract renewals with Amazon and DHL, strong domestic and charter growth, and improved margins highlight resilience amid global trade uncertainty. Fleet rationalization and asset sales are set to boost cash flow, with expectations for a robust peak season.
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Q1 2025 saw record revenue and strong EBITDA growth, driven by domestic and charter segments, while HCMI softness was offset by new opportunities. The company maintained leverage targets, continued share buybacks, and remains cautious amid global economic uncertainty.
Fiscal Year 2024
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Record Q4 revenue and annual sales above CAD 1 billion were driven by strong ACMI and charter growth, with adjusted EBITDA up 12.4% year-over-year. Block hours and cash flow surged, while margin normalization and double-digit charter growth are expected in 2025.
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Q3 saw 14.8% revenue growth and 17% adjusted EBITDA growth, driven by strong charter and international demand, with block hours up 15% and best-in-class on-time performance. Margins remain stable despite cost pressures, and capital allocation priorities include share buybacks and fleet expansion.
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Q2 saw 11.5% revenue growth year-over-year, with all business lines expanding and adjusted EPS up 50%. New China-Canada charter contracts and strong e-commerce demand are driving further upside, while disciplined capital allocation and operational efficiency support continued growth.