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CGI Inc. (TSX: GIB.A, NYSE: GIB) is a leading global IT and business consulting services firm headquartered in Montreal, Canada. Established in 1976, CGI has grown to become one of the largest independent firms of its kind, with a dedicated workforce of over 90,000 professionals across 40 countries. The company provides a comprehensive range of services including consulting, systems integration, application maintenance, and business process services.
CGI’s extensive portfolio is designed to help organizations digitally transform their operations to achieve better efficiencies and results. Its major sectors of operation include government, healthcare, financial services, telecommunications, and utilities, among others. Notably, the government sector contributes more than one-third of CGI’s annual revenue.
CGI recently secured several significant contracts, including a five-year $162 million partnership with the UK Government's Cabinet Office to enhance their digital, data, and technology services. Additionally, CGI is involved in the modernization of Los Angeles County's ERP systems and continues its collaboration with Market Operator Services Ltd (MOSL) in managing core water retail market platforms in England.
Financially, CGI reported a fiscal 2023 revenue of CA$14.30 billion, demonstrating stable growth with strong net earnings and cash generation. The company leverages a local relationship model supported by a global delivery network, positioning it to deliver tailored solutions and drive innovation across various industries.
Recent leadership changes include the appointment of François Boulanger as President and CEO, effective October 1, 2024, indicating a strategic focus on sustained growth and operational excellence. CGI continues to enhance shareholder value through strong profitability, cash generation, and strategic share repurchases.
CGI's future outlook includes executing its
CGI (NYSE: GIB) has secured a contract with the Puerto Rican government for ongoing IT services focused on disaster recovery, aiding efforts to rebuild post-hurricanes Irma and Maria. Since 2018, CGI has been instrumental in the Commonwealth's recovery through its Disaster Recovery Solution (PR-DRS), managing over $69 billion in federal funding across various sectors. The company's commitment to transparent data management helps ensure effective use of public resources for relief efforts. CGI's revenue for FY 2021 reached $12.13 billion.
On Nov. 23, 2021, CGI (NYSE: GIB) announced the launch of its U.S. IT Center Academy aimed at enhancing skills for new hires. The program will employ and train 1,000 employees over 18 months in areas like JAVA programming and cloud technologies. Training commenced in October 2021 in cities including Belton, TX and Lafayette, LA, with plans for expansion to other locations. This initiative aligns with CGI's commitment to invest in its U.S. workforce and support government and commercial clients.
CGI (NYSE: GIB; TSX: GIB.A) has been awarded a contract by the U.S. General Services Administration (GSA) to develop the Common Catalog Platform (CCP), a web-based application aimed at modernizing catalog data management. The contract, with an initial funding of $3.1 million and a potential total value of $19 million, spans a base year and four optional years. The CCP will replace the outdated Schedule Input Program, enhancing usability and data governance for catalog management, thereby streamlining operations for government agencies.
CGI Inc. (NYSE: GIB) has been awarded a multi-award ASTRO IDIQ contract by the General Services Administration (GSA). This 10-year contract allows CGI to compete for task orders related to manned and unmanned platforms and robotics, including satellites and launch vehicles, with no ceiling on potential contract value. CGI aims to leverage its expertise in complex space software systems to expand its presence in the U.S. federal market, building on its established track record in Europe.
CGI (GIB) will host an Investor and Market Analyst Day on November 22, 2021, starting at 8:30 a.m. ET, concluding at 1:00 p.m. ET. The event will feature presentations from the executive leadership team, including Co-Chair Julie Godin and CEO George Schindler. Key topics include industry coverage, talent strategy, digitization case studies, and capital allocation strategies. A live webcast will be available on CGI's investor page. CGI reported $12.13 billion in revenue for fiscal 2021.
CGI reported robust Q4 and FY2021 results with Q4 revenue of $3.01 billion (+2.8% YoY) and FY2021 revenue of $12.13 billion (-0.3% YoY). Adjusted EBIT for Q4 rose to $493.3 million (+7.8% YoY), achieving a margin of 16.4%. Diluted EPS jumped 44.8% YoY to $1.39. The company maintained a strong backlog of $23.06 billion (1.9x annual revenue) and reported cash from operations of $526.9 million (+7.1% YoY).
CGI has been awarded an $84 million, four-year contract by the City of San Diego for IT support services, with options extending to ten years. This agreement enhances CGI's long-standing partnership with the city, beginning in 2012, and involves maintaining nearly 300 citywide applications. CGI will also introduce new digital services, including an online permitting system and a paperless vaccine management solution. The support aims to empower the city’s 11,000 employees to deliver high-quality services to residents.
CGI will announce its fourth quarter and fiscal year 2021 results, covering the period ending September 30, 2021, on November 10, 2021, prior to market opening. The conference call to discuss these results will be hosted by CEO George D. Schindler and CFO François Boulanger at 9:00 a.m. (EST). Investors can access the live webcast through the IR section of CGI's website. In fiscal 2020, CGI reported revenue of C$12.16 billion, showcasing its position as a leading independent IT and business consulting services firm.
CGI has launched a new global innovation center in Toulouse, France, focused on Industry 4.0 technologies. This center enhances CGI's network of innovation hubs across France, aligning with the country's high-tech industries such as aeronautics and pharmaceuticals. The center aims to help manufacturers modernize their systems and digitize value chains using IoT, augmented reality, and automation. Key objectives include co-developing future factories, innovating manufacturing solutions, and accelerating digital transformation. Industry leaders recognize the center’s potential to tackle significant transformation challenges.
CGI (NYSE: GIB) has announced the acquisition of Cognicase Management Consulting (CMC), enhancing its presence in Spain and bolstering client services. CMC, a consulting firm with over 25 years in technology and management consulting, serves major clients in Spain and Latin America, employing around 1,500 professionals. This acquisition aims to strengthen CGI's service portfolio and accelerate digital transformation for clients. Approval from Spanish authorities has been secured, with a closure expected by the end of the month.
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