CAE, Inc. (CAE) Reports Q2 EPS of C$0.13

CAE, Inc. (NYSE: CAE) reported Q2 EPS of Cdn$0.13, versus Cdn$0.28 reported last year. Revenue for the quarter came in at Cdn$704.7 million, versus Cdn$896.8 million reported last year.

Consolidated outlook:

CAE is a high technology solutions company at the leading edge in digital immersion. The extended-term outlook for the Company remains compelling, and it expects to emerge from the COVID-19 pandemic even better positioned as a result of several initiatives to strengthen its internal position during the current period. Its restructuring program, currently underway, is expected to yield annual recurring cost savings of approximately $50 million, starting in fiscal year 2022.

In the short-term; however, the Company expects the COVID-19 pandemic to continue to have a significant negative impact on its performance relative to pre-pandemic levels. COVID-19 remains a global reality and the pace of CAE's recovery from this point forward is expected to be highly correlated to the rate at which travel restrictions and quarantines can be safely lifted and activities resume in CAE's end markets. The Company continues to expect a stronger second half of the fiscal year, compared with the first, including the generation of positive free cash flow for the fiscal year. The Company significantly reduced capital expenditures, which it currently expects to be approximately $100 million for the fiscal year.

For earnings history and earnings-related data on CAE, Inc. (CAE) click here.

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