Welcome to our dedicated page for CAE news (Ticker: CAE), a resource for investors and traders seeking the latest updates and insights on CAE stock.
CAE Inc. (NYSE: CAE; TSX: CAE) stands as a global leader in training and simulation solutions for the civil aviation, defense and security, and healthcare markets. With over seven decades of innovation, CAE designs and integrates comprehensive training solutions, leveraging the expertise of its 8,000 employees and world-leading simulation technologies. Headquartered in Montreal, Canada, CAE operates 160 sites and training locations in 35 countries, making it the broadest network in the industry.
Civil Aviation: CAE trains more than 120,000 civil and defense crewmembers annually, providing advanced flight simulators and comprehensive pilot training programs. The company also manages a substantial fleet of flight simulators, enhancing accessibility and training efficiency for airlines worldwide.
Defense & Security: CAE offers mission support and training solutions for defense forces, utilizing high-fidelity simulation technologies to prepare military personnel for real-life scenarios. The company's defense projects are focused on improving combat readiness and operational efficiency of military forces globally.
Healthcare: Recent divestitures have seen CAE streamline its focus, yet it remains committed to providing simulation-based healthcare training solutions to nurture the proficiency of medical professionals.
CAE has a strong commitment to sustainability, becoming the first Canadian aerospace company to be carbon-neutral in 2020. The company continues to push the envelope with technological advancements, such as integrating Epic Games' Unreal Engine into its simulators for ultra-realistic training experiences.
Financially, CAE showcases a robust performance with a diversified revenue stream. Despite recent restructuring to optimize cost and streamline operations, CAE maintains strong market leadership in its core domains. Strategic partnerships, innovative technology integrations, and a focus on environmental, social, and governance (ESG) practices underpin CAE’s sustained growth and operational excellence.
Follow CAE on Twitter @CAE_Inc or visit their career page at www.cae.com for more information.
CAE reported a significant revenue increase of $993.2 million in Q2 2023, up 22% from $814.9 million the previous year. Net income rose to $44.5 million ($0.14 per share), marking a 218% increase. Adjusted EPS improved to $0.19 from $0.17. The company achieved an adjusted order intake of $1,294.6 million, leading to a record backlog of $10.6 billion. CAE reaffirms its FY2023 outlook, projecting mid-20% growth in consolidated adjusted segment operating income.
Marc Parent, President and CEO of CAE, received Aviation Week's Philip J. Klass Award for Lifetime Achievement during the Annual Laureate Awards on November 3, 2022, in Washington, DC. This prestigious accolade recognizes his nearly four-decade commitment to aviation safety and leadership in transforming CAE into the largest global provider of civil aviation training services. Under his guidance, CAE achieved carbon neutrality in 2020 and continues to innovate for a safer and greener aerospace future.
Spirit Airlines (NYSE: SAVE) and CAE (NYSE: CAE) have introduced the Spirit Wings Pilot Pathway program at CAE's Phoenix flight academy, aimed at enhancing their pilot recruitment pipeline. Graduates with around 500 flight hours can apply, receiving mentorship and conditional job offers upon successful interviews. Spirit plans to expand its fleet, adding 24 planes in 2022 and 33 in 2023, which will provide pilots with quicker advancement opportunities. Spirit has also been recognized for its commitment to safety and diversity in the workplace.
CAE has been recognized in Canada Post's "Canadians in Flight" stamp series, coinciding with its 75th anniversary. The stamp features both historical and modern flight simulation technology and underscores CAE's commitment to innovation in the aerospace sector. Celebrating its founding by Ken Patrick in 1947, CAE emphasizes its role in pilot training globally, contributing to safer flight operations. The company has achieved carbon neutrality and aims to reduce emissions through its transition to electric aircraft for training. This honor reflects CAE's significant contributions to Canadian aviation and technology.
CAE Healthcare has been recognized as a Certified Green Business Partner by Sarasota County, Florida, where its U.S. headquarters are located. The designation, valid until 2025, acknowledges businesses for environmentally responsible operations assessed through rigorous criteria. CAE's efforts include recycling initiatives and the use of energy-efficient equipment. The company aims to enhance sustainable practices, highlighting its commitment to reducing environmental impact and achieving carbon neutrality.
AirAsia India has partnered with CAE to implement the CAE Rise™ Training System, becoming the first airline in India to adopt this data-driven training program. This collaboration aims to enhance pilot training through real-time data analytics, improving safety and technical competencies. With the Indian Directorate General of Civil Aviation planning to mandate Evidence-Based Training (EBT), CAE Rise™ will support smooth implementation. CAE Rise™, launched in 2018, transforms simulator data into actionable insights for instructors, ensuring compliance with advanced aviation safety standards.
CAE has signed a 15-year exclusive agreement with the Qantas Group to establish a new pilot training centre in Sydney, Australia. This facility, covering 7,000 square metres, is set to open in early 2024 and aims to enhance training capabilities for Qantas as it expands its fleet while recovering from COVID impacts.
The centre will feature advanced simulators and is projected to support training for both current and new pilots, marking a significant development in CAE's operations and its commitment to aviation safety.
CAE announced the appointment of Alan N. MacGibbon as Chair of the Board, succeeding John Manley, effective following CAE's 2022 Annual Meeting. MacGibbon, an independent director since 2015 and former Deloitte Canada CEO, expressed gratitude and a commitment to innovative training solutions. Additionally, Elise Eberwein and Ayman Antoun have been elected as independent directors. The shareholder meeting also confirmed the election results for the board, reflecting strong support for the nominees with voting percentages exceeding 95% in most cases.
FAQ
What is the current stock price of CAE (CAE)?
What is the market cap of CAE (CAE)?
What markets does CAE Inc. serve?
How many employees does CAE Inc. have?
What is CAE's commitment to sustainability?
Where is CAE Inc. headquartered?
How many training locations does CAE operate globally?
What recent technological advancement has CAE incorporated into its simulators?
What is CAE's role in the defense market?
How many civil and defense crewmembers does CAE train annually?
What was a significant recent change in CAE's business operations?
How can I stay updated with CAE's latest news and developments?
