00:38:58 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Cargojet Inc
Symbol CJT
Shares Issued 13,109,090
Close 2019-02-21 C$ 83.40
Market Cap C$ 1,093,298,106
Recent Sedar Documents

Cargojet talks revenue, omits 2018 P&L from NR

2019-02-21 09:05 ET - News Release

Mr. Ajay Virmani reports

CARGOJET ANNOUNCES STRONG FOURTH QUARTER AND YEAR END RESULTS

Cargojet Inc. has released its financial results for the fourth quarter and year ended Dec. 31, 2018.

For the fourth quarter ended Dec. 31, 2018:

  • Total revenues were $132.6-million, an increase of $14.4-million, or 12.2 per cent, versus the previous year.
  • Gross margin was $37.1-million, a decrease of $300,000, or 0.8 per cent, versus the previous year.
  • Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $40.2-million, an increase of $2.9-million, or 7.8 per cent, versus the previous year.
  • Adjusted EBITDAR (earnings before interest, taxes, depreciation, amortization and rent) was $42.3-million, an increase of $2.2-million, or 5.5 per cent, versus the previous year.

For the year ended Dec. 31, 2018:

  • Total revenues were $454.9-million, an increase of $72-million, or 18.8 per cent, versus the previous year.
  • Gross margin was $112.3-million, an increase of $6-million, or 5.6 per cent, versus the previous year.
  • Adjusted EBITDA was $128-million, an increase of $18.5-million, or 16.9 per cent, versus the previous year.
  • Adjusted EBITDAR was $137.9-million, an increase of $15-million, or 12.2 per cent, versus the previous year.

"Cargojet continued to produce strong revenue and EBITDA growth in 2018," commented Ajay Virmani, president and chief executive officer. "We are very pleased with our financial and operating results as we prudently manage our capacity to meet air cargo demand particularly related to e-commerce growth in Canada as well as our expanding ACMI and ad hoc charter business. The continued year-over-year results are a direct reflection of the Cargojet team's efforts and dedication in continuing to provide a first-class service to our customers."

About Cargojet Inc.

Cargojet is Canada's leading provider of time-sensitive overnight air cargo services and carries over 1.3 million pounds of cargo each business night. Cargojet operates its network across North America each business night, utilizing a fleet of all-cargo aircraft.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.