Cargojet demonstrated strong revenue and EBITDA growth, with significant achievements in their charter business and improved financial leverage. However, the company faces challenges with pilot shortages, increased costs, and currency fluctuations. While there are optimistic growth opportunities, cost pressures remain a concern.

Company Guidance

During the Cargojet Q3 2024 earnings call, the company provided several key metrics and insights into their performance and future guidance. Cargojet reported a 15% growth in overall revenues and a 17% increase in adjusted EBITDA despite having one less operating day compared to Q3 of the previous year. Domestic revenues grew by 5.2%, while ACMI and all-in charters saw increases of 12% and 60.2%, respectively. Adjusted earnings per share for the quarter were $1.48, up from $0.15 in the prior year, contributing to a year-to-date adjusted earnings per share of $3.59. The company also highlighted a reduction in leverage to 2.2x EBITDA from 2.6x at the start of the year. Despite facing cost pressures from wage increases and other factors, Cargojet maintained a strong free cash flow of $47.8 million for the quarter, indicating robust financial health and strategic growth opportunities.

Strong Revenue and EBITDA Growth

Cargojet posted a 15% growth in overall revenues and a 17% growth in adjusted EBITDA for the quarter, despite one less operating day compared to the previous year.

Record Growth in Charter Business

The all-in charter business experienced a record 60.2% growth compared to the third quarter of 2023.

On-time Performance

Cargojet delivered a best-in-class on-time performance of 98.7% in Q3.

Reduction in Financial Leverage

Cargojet successfully lowered financial leverage to 2.2x in Q3, down from 2.6x at the start of the year.

Improved Adjusted Earnings Per Share

Adjusted earnings per share closed the quarter at $1.48, up from $0.15 per share in the same period in the prior year.

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Cargojet (TSE:CJT) Earnings, Revenues Date & History

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TSE:CJT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 13, 2018	2018 (Q2)	- / 0.35	0.39	-10.26% (-0.04)	―	―
Nov 13, 2018	2018 (Q3)	- / 0.35	0.41	-14.63% (-0.06)	―	―
Feb 21, 2019	2018 (Q4)	- / 0.47	0.81	-41.98% (-0.34)	―	―
May 06, 2019	2019 (Q1)	- / 0.00	0.33	―	―	―
Jul 31, 2019	2019 (Q2)	- / 0.32	0.35	-8.57% (-0.03)	―	―
Nov 04, 2019	2019 (Q3)	- / 0.87	0.35	148.57% (+0.52)	―	―
Feb 20, 2020	2019 (Q4)	- / -0.32	0.47	-168.09% (-0.79)	―	―
May 07, 2020	2020 (Q1)	- / -0.12	0	―	―	―
Aug 06, 2020	2020 (Q2)	- / -2.89	0.32	-1003.13% (-3.21)	―	―
Nov 03, 2020	2020 (Q3)	- / -1.31	0.87	-250.57% (-2.18)	―	―

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.

Beat

Missed

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TSE:CJT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 04, 2024	C$138.32	C$129.28	-6.53%
Aug 13, 2024	C$120.22	C$123.25	+2.52%
Apr 29, 2024	C$114.62	C$118.75	+3.61%
Feb 26, 2024	C$115.72	C$112.22	-3.02%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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