CGI Inc. - GIB STOCK NEWS

CGI reported its Q3 Fiscal 2024 results, showing revenue growth of 1.3% year-over-year to $3.67 billion. Key highlights include:

- Earnings before income taxes of $594.0 million, up 6.3% year-over-year
- Net earnings of $440.1 million, up 6.1% year-over-year
- Diluted EPS of $1.91, up 9.1% year-over-year
- Cash from operating activities of $496.7 million, representing 13.5% of revenue
- Bookings of $4.28 billion, with a book-to-bill ratio of 116.6%
- Backlog of $27.56 billion or 1.9x annual revenue

CGI also announced plans to initiate a quarterly dividend of $0.15 per share starting in Q1 Fiscal 2025, subject to Board approval.

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB, TSX: GIB.A), has announced its intent to acquire Aeyon, a leader in digital transformation and AI technologies for the U.S. Federal Government. The acquisition aims to expand CGI's offerings portfolio and strengthen relationships with critical national security clients. The deal, expected to close in Q4 of CGI's fiscal year 2024, will bring 725 Aeyon employees into the CGI fold, enhancing their capabilities in government transformation.

The merger is set to benefit clients through access to new global capabilities and opportunities to enhance mission impact. For Aeyon employees, it offers career advancement prospects with an industry leader. The acquisition aligns with CGI's strategy of delivering innovative, trusted digital transformation, data, and intelligent automation services to government clients.

CGI Federal Inc., a subsidiary of CGI Inc. (TSX: GIB.A) (NYSE: GIB), has been selected to provide modern technology solutions to the EPA's Office of Research and Development (ORD). The company secured a spot on the SMAVCS4 blanket purchase agreement (BPA) with a ceiling value of US $100M. CGI will continue supporting key financial management applications and deliver services enabling technology, data, and financial management for ORD's research programs.

CGI's role includes facilitating critical data collection, sharing, and publication for EPA and its co-regulatory partners. The company also provides operational support for financial and asset management requirements and technology support for research and development activities. This agreement reinforces CGI's long-standing partnership with EPA in advancing technology and modernization initiatives.

CGI (TSX: GIB.A) (NYSE: GIB), a leading IT and business consulting services firm, will release its third quarter fiscal 2024 results on July 31, 2024, before markets open. A conference call for management to discuss results and answer questions is scheduled for 9:00 a.m. (EDT) on the same day. The call will feature George D. Schindler, President and CEO, and Steve Perron, Executive VP and CFO.

Interested parties can access the call via phone or webcast, with a replay available until August 30, 2024. CGI, founded in 1976, employs 90,000 consultants globally and reported revenue of $14.30 billion for fiscal 2023. The company offers a comprehensive portfolio of IT and business consulting services, systems integration, and managed services.

CGI, a global business and IT consulting firm, has been recognized as a Major Player in the IDC MarketScape: Worldwide Business Consulting Services 2024 Vendor Assessment. The report highlights CGI's ability to transform organizations to become more sustainable, resilient, agile, and customer-centric. CGI's approach focuses on people-first consulting, enabling meaningful and sustainable success for clients.

The assessment notes CGI's strengths in bridging strategy and execution, as well as its consultants' pragmatism, loyalty, and entrepreneurial spirit. CGI's consulting services cover critical areas such as business strategy, organization and change management, core operations, and technology. The firm also addresses C-level priorities including AI strategy, sustainable supply chain management, ESG, and mergers and acquisitions.

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has introduced CGI Agile Catalyst™, a framework designed to help U.S. federal agencies implement agile methodologies. This framework includes tools and consulting services tailored to address the unique challenges and needs of government organizations.

Agile Catalyst offers preconfigured workflows, assessments, dashboards, templates, best practices, and expert recommendations. It aims to drive transformation, increase transparency, enhance project visibility, reduce costs, and accelerate mission efficiency. Agencies participating in CGI's pilot program have reported significant improvements, including up to 30% reduction in deliverable cycle time, 20% reduction in production defects, and cost savings aligned with their business cases.

CGI (TSX: GIB.A) (NYSE: GIB) and Bladex (NYSE: BLX) have announced an agreement to implement the CGI Trade360® trade technology platform. Bladex will be the first Latin American-headquartered bank to adopt this award-winning SaaS platform, which supports trade finance in over 85 countries. The implementation aims to:

1. Improve Bladex's regional and global trade business
2. Optimize letter of credit processing
3. Enhance working capital solutions
4. Increase security and operational transparency

CGI Trade360® supports more than 50 products in traditional trade, payables, receivables, and cash management. This partnership aligns with Bladex's strategy to become a benchmark bank in trade finance solutions in Latin America, offering an improved digital experience for clients, suppliers, and trade operations teams.

Bladex (NYSE: BLX) and CGI (TSX: GIB.A) (NYSE: GIB) have announced a partnership to implement the CGI Trade360 trade technology platform. Bladex will be the first Latin American-headquartered bank to adopt this award-winning SaaS platform, which supports trade finance in over 85 countries. The implementation aims to:

1. Improve Bladex's regional and global trade business
2. Optimize letter of credit processing
3. Enhance working capital solutions, security, and operational transparency

This partnership aligns with Bladex's strategy to remain a technological leader in trade finance solutions for Latin America. The CGI Trade360 platform supports over 50 products in traditional trade, payables, receivables, and cash management, offering a digital experience for bank clients, suppliers, and trade operations teams.

CGI, a leading IT and business consulting firm, has been awarded the DASA DevOps Business Value award for its exceptional ability to translate DevOps principles into tangible business value for clients across industries. The award, presented by the world's largest DevOps and Agile industry body, recognizes CGI's innovative approach that has significantly enhanced time-to-market, software quality, client satisfaction, and operational efficiency for its clients.

Rakesh Aerath, President of CGI's Asia Pacific Global Delivery Centers of Excellence, emphasized the company's commitment to continuous innovation in services, solutions, and delivery excellence. CGI offers a wide range of DevOps services, including education, maturity assessment, and transformation roadmaps, helping clients become high-performing agile organizations.