CGI reports fourth quarter and Fiscal 2024 results

Core Insights - CGI reported a fourth quarter revenue of $3.66 billion, reflecting a year-over-year growth of 4.4% and a diluted EPS of $1.91, up 8.5% year-over-year [5][7][17] - For the fiscal year 2024, CGI's total revenue reached $14.68 billion, an increase of 2.7% year-over-year, with a diluted EPS of $7.31, up 6.6% year-over-year [10][12][13] Q4-F2024 Performance Highlights - Revenue of $3.66 billion, up 4.4% year-over-year or 2.0% in constant currency [5][17] - Earnings before income taxes of $592.4 million, up 6.2% year-over-year, with a margin of 16.2% [6][17] - Adjusted EBIT of $600.2 million, up 4.7% year-over-year, with a margin of 16.4% [6][17] - Net earnings of $435.9 million, up 5.2% year-over-year, with a margin of 11.9% [7][17] - Diluted EPS of $1.91, up 8.5% year-over-year [7][17] - Cash provided by operating activities was $629.1 million, representing 17.2% of revenue [8][17] - Bookings totaled $3.82 billion, resulting in a book-to-bill ratio of 104.4% [8][17] Fiscal Year 2024 Performance Highlights - Total revenue of $14.68 billion, up 2.7% year-over-year or 0.9% in constant currency [10][12] - Earnings before income taxes of $2.29 billion, up 4.2% year-over-year, with a margin of 15.6% [12][17] - Adjusted EBIT of $2.42 billion, up 4.5% year-over-year, with a margin of 16.5% [12][17] - Net earnings of $1.69 billion, up 3.8% year-over-year, with a margin of 11.5% [12][17] - Diluted EPS of $7.31, up 6.6% year-over-year [12][17] - Cash provided by operating activities was $2.20 billion, representing 15.0% of revenue [13][17] - Backlog reached $28.72 billion, equivalent to 1.9 times annual revenue [13][17] Strategic Investments - During Q4-F2024, CGI acquired businesses for $330.2 million and invested $81.6 million back into its operations [9][17] - For the entire fiscal year 2024, CGI's total investment in acquisitions was $380.3 million [14][17] Financial Position - As of September 30, 2024, CGI's long-term debt and lease liabilities were $3.31 billion, down from $3.74 billion the previous year [15][17] - Net debt stood at $1.82 billion, a decrease from $2.13 billion year-over-year, with a net debt-to-capitalization ratio of 16.2% [15][17] - The company had cash and cash equivalents of $1.5 billion, providing $3.0 billion in readily available liquidity for growth strategies [16][17]