NEW YORK, June 13, 2024 (GLOBE NEWSWIRE) -- Top securities law firm Bleichmar Fonti & Auld LLP announces an investigation into CAE, Inc. (NYSE: CAE) for potential violations of the federal securities laws. If you invested in CAE, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases/cae-inc-investigation. As a result, CAE's stock price declined over 13% at open on May 22, 2024, closing down over 5%. BFA is investigating whether CAE and certain of its executives made ma ...

The other nominees to CAE's Board consist of 12 current directors, five of whom joined the Board since 2022. More information about the current CAE Board is available on its website at this link and more details regarding all of CAE's nominees will be provided in a Management Proxy Circular that is scheduled to be filed and mailed to shareholders before the end of June. Mr. Edwards has been President and CEO of AtkinsRéalis since 2019. He joined AtkinsRéalis in 2014 and led initiatives to simplify, focus, a ...

NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) -- Top securities law firm Bleichmar Fonti & Auld LLP announces an investigation into CAE, Inc. (NYSE: CAE) for potential violations of the federal securities laws. If you invested in CAE, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases/cae-inc-investigation. On May 21, 2024, CAE announced preliminary earnings for Q4 2024 and that it initiated a "re-baselining" of its defense business because of eight underperforming legac ...

NEW YORK, June 08, 2024 (GLOBE NEWSWIRE) -- Top securities law firm Bleichmar Fonti & Auld LLP announces an investigation into CAE, Inc. (NYSE: CAE) for potential violations of the federal securities laws. If you invested in CAE, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases/cae-inc-investigation. Click here for more information: https://www.bfalaw.com/cases/cae-inc-investigation. https://www.bfalaw.com/cases/cae-inc-investigation https://www.bfalaw.com/cases/c ...

What Can You Do? If you invested in CAE, Inc. you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Top securities law firm Bleichmar Fonti & Auld LLP announces an investiga ...

NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- Top securities law firm Bleichmar Fonti & Auld LLP announces an investigation into CAE, Inc. (NYSE: CAE) for potential violations of the federal securities laws. If you invested in CAE, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases/cae-inc-investigation. Why Did CAE's Stock Drop? On May 21, 2024, CAE announced preliminary earnings for Q4 2024 and that it initiated a "re-baselining" of its defense business because of e ...

OTTAWA, ON, May 30, 2024 /PRNewswire/ - (NYSE: CAE) (TSX: CAE) CAE today announced that CAE Defense & Security has been awarded a contract from General Atomics Aeronautical Systems, Inc. (GA-ASI) to support the MQ-9B SkyGuardian® Remotely Piloted Aircraft Systems (RPAS) acquired by the Government of Canada. The minimum contract value is $250M for the initial 9 years with additional option years over the total period of performance. Under the terms of the contract, CAE will deliver aircrew and maintenance te ...

MONTREAL, May 29, 2024 /PRNewswire/ - (NYSE: CAE) (TSX: CAE) – CAE announced that its SkyAlyne joint venture was today awarded a C$11.2-billion, 25-year contract for Canada's Future Aircrew Training (FAcT) Program. "CAE has proudly worked alongside the Royal Canadian Air Force (RCAF) for more than 75 years to design and deliver training, services, and technologies that support the mission readiness of Canada's aviators," said Marc Parent, CAE's President and Chief Executive Officer. "Today's announcement re ...

Financial Data and Key Metrics Changes - Consolidated revenue increased by 7% to $4.3 billion, with adjusted segment operating income up 2% to $549.7 million and annual adjusted net income stable at $276.8 million or $0.87 per share [1] - Excluding legacy contracts, adjusted segment operating income rose by 19% to $640 million, and annual net adjusted income increased by 29% to $355.3 million or $1.12 per share [1] - Net debt position at the end of the quarter was $2.9 billion, with net debt to adjusted EBITDA at 3.17 times, improving to 2.89 times when excluding legacy contract leverage [3] Business Line Data and Key Metrics Changes - In Defense, revenue was stable at $1.8 billion, but adjusted segment operating income fell by 98% to $0.8 million; excluding legacy contracts, adjusted segment operating income increased by 72% to $91.1 million [51] - Civil revenue for the fourth quarter was up 6% year-over-year to $700.8 million, with adjusted segment operating income up 17% to $191.4 million, achieving a record margin of 27.3% [103] - For the year, Civil revenue increased by 12% to $2.4 billion, and adjusted segment operating income rose by 13% to $548.9 million, resulting in an annual margin of 22.5% [103] Market Data and Key Metrics Changes - The company reported a record backlog of $12.2 billion, with Civil concluding the year with a record adjusted backlog of $6.4 billion [75][76] - The demand for aviation training solutions remains strong, driven by growth in air travel and the need for pilots to stay current with advancing technology and regulations [6] - The Defense sector is entering an extended upcycle, marked by rising budgets across NATO and allied nations, with a focus on defense modernization amid geopolitical tensions [7] Company Strategy and Development Direction - The company is focused on a balanced approach to capital allocation, prioritizing funding for growth, strengthening financial position, and returning capital to shareholders [3] - The strategy includes leveraging synergies between Civil and Defense businesses to enhance execution capabilities and streamline project selection [74][84] - The company expects annual revenue growth in the low to mid-single-digit percentage range for Defense, with margins projected to increase to 6% to 7% [87] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that Defense performance has fallen short of expectations but emphasized that necessary steps have been taken to address past issues and improve future performance [73] - The company is focused on executing contracts and has high visibility on legacy contracts, with expectations to complete them over the next six to eight quarters [46] - Management expressed confidence in the demand environment for Civil business, expecting continued growth driven by strong market fundamentals [116] Other Important Information - The company generated $418 million of free cash flow during the fiscal year, with a cash conversion rate of 151% [81] - Restructuring costs incurred during the quarter amounted to $55 million, related to portfolio shaping actions and integration of AirCentre [79] - The adjusted effective income tax rate for the year was 17%, with expectations for an increase to approximately 25% in fiscal 2025 [101] Q&A Session Summary Question: Can you discuss the visibility into higher margins in the Defense segment for the back half of the year? - Management indicated that they have high visibility on contracts already in the backlog and expect to execute effectively to meet margin targets [112] Question: What does the Defense segment look like in two years? - Management suggested that the Defense segment could either grow larger with better margins or focus on a smaller, more profitable business model [112] Question: How is the company managing working capital investments for fiscal 2025? - Management highlighted a focus on efficiency metrics and expected historical trends to continue, with a target of 100% conversion of net income to free cash flow [38] Question: What are the expectations for debt reduction this fiscal year? - Management stated that they are focused on deleveraging, targeting a leverage ratio of 2 to 2.5 times in line with an investment-grade profile [125]

CAE (CAE) reported $835.47 million in revenue for the quarter ended March 2024, representing a year-overyear decline of 10.1%. EPS of $0.09 for the same period compares to $0.26 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $863.18 million, representing a surprise of -3.21%. The company delivered an EPS surprise of -64.00%, with the consensus EPS estimate being $0.25. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...