Cae Inc - CAE STOCK NEWS

CAE has announced that Hélène V. Gagnon, the Chief Sustainability Officer, has been awarded the 2022 Report on Business Best Executive Award. This award celebrates excellence among senior executives in Canada. Gagnon was recognized for her leadership in managing CAE’s reputation and relationships globally, particularly in Corporate Social Responsibility. Marc Parent, CAE's President and CEO, praised her transformative leadership since joining the company in 2015. Gagnon has also played a key role in administering COVID-19 vaccines in Quebec through the Industry for Vaccination initiative.

CAE has appointed Patrick M. Shanahan to its Board of Directors, bringing over 30 years of experience in the defense sector. Previously serving as Acting U.S. Secretary of Defense, Shanahan’s expertise in defense policy, strategy, and technology is expected to enhance CAE's alignment with national defense priorities globally. His leadership experience includes the establishment of the Space Force and advancements in cybersecurity and artificial intelligence at the Department of Defense. This appointment aims to strengthen CAE's strategic direction in high-stakes environments.

CAE (NYSE: CAE, TSX: CAE) has partnered with Joby Aviation (NYSE: JOBY) to develop flight simulation training devices for Joby's all-electric aircraft. This collaboration supports the training of pilots for Joby's electric vertical take-off and landing (eVTOL) aircraft, which aims to revolutionize urban air travel. Joby is actively working with the FAA to secure necessary certifications for commercial operations expected to launch in 2024. CAE's CAD$1 billion investment into aviation technologies enhances its role in the eVTOL market.

CAE has announced the suspension of all services and training to Russian airlines and healthcare distributors, responding to the humanitarian crisis in Ukraine. The company has donated C$60,000 to the Red Cross, with total contributions exceeding C$125,000 from CAE and its employees. CAE has no facilities in Russia but previously supported Russian airlines with training and simulator services. The suspension reflects CAE's commitment to humanitarian efforts while maintaining its operational integrity in the global market.

CAE has completed the acquisition of Sabre's Airline Operations portfolio for US$392.5 million, positioning itself as a leader in digital aviation technology. This acquisition enhances CAE's offerings in flight, crew, and airport management solutions, aiming to improve operational efficiency for airlines. CAE anticipates this deal to be accretive to EPS and free cash flow within the first year. The integration of the Airline Operations portfolio further supports CAE's strategy to create a unified digital ecosystem for airline operations, enhancing customer service and reducing operational disruptions.

CAE reported revenue of $848.7 million for Q3 FY2022, a 2% increase from $832.4 million last year. Net income was $26.2 million ($0.08 per share), down 46% from $48.8 million ($0.18 per share) year-over-year. Adjusted EPS was $0.19, a 14% decline. However, adjusted segment operating income rose 16% to $112.7 million, with free cash flow of $282.1 million, up 26%. The company secured $1.377 billion in orders, contributing to a backlog of $9.2 billion. Concerns remain over ongoing pandemic-related disruptions impacting market recovery.

CAE will announce its fiscal year 2022 third quarter results on February 11, 2022, and hold a conference call at 1 p.m. ET. This call will feature key executives including CEO Marc Parent and CFO Sonya Branco, aimed at providing insights into CAE's performance and future outlook. The event will be accessible via a live webcast and archived for later viewing. Notably, CAE's business model features over 60% recurring revenue, indicating financial stability.

CAE will publish its fiscal year 2022 third quarter results on February 11, 2022. The conference call, set for 1 p.m. ET, will include executive insights from Marc Parent, President and CEO, Sonya Branco, CFO, and Andrew Arnovitz, Senior VP, Investor Relations. The call aims to offer analysts and investors a comprehensive overview of the company’s performance and future outlook, emphasizing CAE's leadership in digital immersion solutions across aviation, defense, and healthcare. A live webcast will be available on CAE's website.