CAE, Inc. (CAE) Tops Q3 EPS by 6c, Beats on Revenues
CAE, Inc. (NYSE: CAE) reported Q3 EPS of $0.28, $0.06 better than the analyst estimate of $0.22. Revenue for the quarter came in at $704.4 million versus the consensus estimate of $578.27 million.
- Third quarter fiscal 2018 results include an income tax recovery related to the US tax reform and a net gain on the fair valuation of CAE's prior investment in the Asian Aviation Centre of Excellence (AACE). Excluding these elements, earnings per share would have been $0.28. EPS before specific items was $0.26 last year.
"CAE remains on track to deliver on our growth outlook and we are well positioned to benefit from the secular tailwinds driving our markets," said Marc Parent, CAE's President and Chief Executive Officer. "We had year-over-year growth in all segments this quarter, as well as strong order intake and free cash flow. In Civil, market activity was especially strong as we received a quarterly-record, $1 billion in new orders for our comprehensive training solutions. And in Defence, growth momentum increased in the quarter and we continued to win important training systems and services contracts, adding to a large year-to-date order book."
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