CAE has reported its results for the fiscal first quarter 2026 ended June 30, 2025. Revenue reached CA$1,098.6 million, up from CA$1,072.5 million in the same quarter last year. Earnings per share (EPS) were CA$0.18, compared with CA$0.15 last year. Adjusted EPS was CA$0.21, unchanged year over year.
Operating income came in at CA$133.8 million, representing 12.2% of revenue, and included CA$14.0 million in executive management transition costs. This compares with CA$108.6 million, or 10.1% of revenue, last year, which included CA$25.6 million in restructuring, integration, and acquisition costs. Adjusted segment operating income rose to CA$147.8 million, or 13.5% of revenue, from CA$134.2 million, or 12.5% of revenue, last year.
The Civil segment posted revenue of CA$607.7 million, up from CA$587.6 million last year. Operating income was CA$99.4 million (16.4% of revenue) compared with CA$89.8 million (15.3% of revenue) a year ago. Adjusted segment operating income was CA$107.6 million (17.7% of revenue), versus CA$106.4 million (18.1% of revenue) last year. Civil delivered eight full-flight simulators (FFSs) during the quarter, with training centre utilisation at 71%.
Civil secured CA$511.4 million in training contracts, including long-term commercial and business aviation agreements, Flightscape airline operations digital solutions, and five FFS sales. The civil book-to-sales ratio was 0.84 for the quarter and 1.27 over the last 12 months, with an adjusted backlog of CA$8.4 billion.
The Defence segment reported revenue of CA$490.9 million, up from CA$484.9 million last year. Operating income increased to CA$34.4 million (7.0% of revenue) from CA$18.8 million (3.9% of revenue). Adjusted segment operating income was CA$40.2 million (8.2% of revenue), up from CA$27.8 million (5.7% of revenue).
Defence booked CA$611.4 million in orders this quarter, for a book-to-sales ratio of 1.25, and 2.08 over the last 12 months. The adjusted backlog ended at CA$11.1 billion, with CA$6.0 billion in bids and proposals pending. (US$1.00 = CA$1.38 at time of publication).
