Cargojet Reports Strong Second Quarter Results

Provided by Cargojet Inc/CNW

MISSISSAUGA, ON, July 31, 2019 /CNW/ – Cargojet Inc. (“Cargojet” or the “Corporation”) (TSX: CJT, CJT.A) announced today financial results for the quarter ended June 30, 2019.

For the Second Quarter Ended June 30, 2019:

  • Total Revenues were $119.1 million, an increase of $10.1 million or 9.3% versus the previous year
  • Gross Margin was $26.6 million, an increase of $1.1 million or 4.3% versus the previous year
  • Adjusted EBITDA was $37.5 million, an increase of $8.7 million or 30.2% versus the previous year
  • Adjusted EBITDAR was $37.8 million, an increase of $5.7 million or 17.8% versus the previous year

“A strong financial discipline combined with continued strength in our core business allowed us to post another strong Quarter,” said Ajay Virmani, President and Chief Executive Officer. “As the courier industry shifts to 7 days-a-week delivery model to accommodate faster service expectations of e-Commerce retailers, we are uniquely positioned to execute on this new model.  We are also finding growing synergistic opportunities in our ad hoc and ACMI charter business that is improving fleet utilization and overall margins. At the heart of our strategy is service excellence and I am extremely proud of Cargojet team that continues to exceed customer expectation by delivering unprecedented on-time performance,”  he concluded.

Cargojet is Canada’s leading provider of time sensitive overnight air cargo services and carries over 1,300,000 pounds of cargo each business night.  Cargojet operates its network across North America each business night, utilizing a fleet of all-cargo aircraft. For more information, please visit: www.cargojet.com.