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CAE raises earnings forecast for the year even as profits fall

CAE

Summary

  • CAE Inc. raised its fiscal year adjusted earnings outlook to $1.28-$1.35 per share.
  • The company's net income dropped 20.7% to $58.6 million for the quarter ended Sept. 30.
  • Second-quarter revenues slipped 2.6% year-over-year to $1.20 billion.
  • Adjusted earnings per share increased to 33 cents from 28 cents the prior year.
  • CEO Matthew Bromberg confirmed the firm remains focused on its global footprint reduction plan.

CAE Inc. says it is raising its earnings outlook for the fiscal year despite a fall in profits.

Keywords
Business,Transport