Calian Group Reports Strong Q3 Growth in Defense Sector

An announcement from Calian Group ( (TSE:CGY) ) is now available.

Calian Group Ltd. reported a 12% increase in defense solutions revenue for the third quarter, driven by strong momentum in Europe and the U.K. and growing investments in Canada. The company announced a $250 million increase in its health contract with the Department of National Defence, contributing to a robust 9% revenue growth excluding the ITCS segment, which faced demand challenges. The quarter also saw new contract signings totaling $642 million, bringing the backlog to a record $1.5 billion. Despite a decline in adjusted EBITDA due to lower ITCS profitability, Calian remains confident in its growth trajectory, supported by strategic acquisitions and a strong cash flow position.

The most recent analyst rating on (TSE:CGY) stock is a Buy with a C$75.00 price target. To see the full list of analyst forecasts on Calian Group stock, see the TSE:CGY Stock Forecast page.

Spark’s Take on TSE:CGY Stock

According to Spark, TipRanks’ AI Analyst, TSE:CGY is a Outperform.

Calian Group’s stock score reflects a balanced view of its stability and challenges. The strong corporate events and technical indicators provide a positive outlook, while high valuation metrics and mixed earnings call sentiment temper enthusiasm. Improving profitability and managing economic uncertainties are key to future performance.

To see Spark’s full report on TSE:CGY stock, click here.

More about Calian Group

Calian Group Ltd. is a mission-critical solutions company operating in sectors such as defense, space, healthcare, and other strategic critical infrastructure. The company focuses on providing essential services and products in these industries, with a significant market presence in Europe, the U.K., and Canada.

Average Trading Volume: 40,726

Technical Sentiment Signal: Buy

Current Market Cap: C$575M

See more insights into CGY stock on TipRanks’ Stock Analysis page.