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Cargojet Inc. (T:CJT)

Business Focus: Air Freight

Sector:  Industrials Industry:  Courier, Postal, Air Freight & Land-based Logistics
See Regulatory Filings on SEDAR
Company Contact
Address: 2281 North Sheridan Way
Tel: 1-905-5017373
IR: See website
Key People
Ajay Virmani
President, Chief Executive Officer, Director
Sanjeev Maini
Interim Chief Financial Officer
Paul Rinaldo
Senior Vice President - Engineering and Maintenance
Pauline Dhillon
Chief Corporate Officer
Jamie B. Porteous
Chief Strategy Officer
Business Overview
Cargojet Inc. is a Canada-based company, which is a provider of time sensitive domestic network air cargo services. The Company's air cargo business is comprised of the following: operating a domestic network air cargo co-load network between approximately 15 Canadian cities; providing dedicated aircraft to customers on an aircraft, crew, maintenance and insurance (ACMI) basis, operating between points in Canada, the United States of America (USA), Mexico and Europe; and operating scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada and Germany; and between Canada and Mexico. The Company operates its business across North America transporting time sensitive air cargo each business night utilizing its fleet of all-cargo aircraft. It operates over 80 flight legs each business night using a combination of B767-300F; B767-200F and B757-200F aircraft. It also operates approximately 10 dedicated ACMI routes.
Financial Overview
For the three months ended 31 March 2022, Cargojet Inc revenues increased 46% to C$233.6M. Net loss totaled C$56.4M vs. income of C$89.4M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net loss reflects EBITDAR - Total decrease from C$127.9M to -C$6M, Fair value increase (decrease) on stock increase from C$81.9M (income) to C$86.8M (expense).
Employees: 1,496 as of Dec 31, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $2,729M as of Mar 31, 2022
Annual revenue (TTM): $831.10M as of Mar 31, 2022
EBITDA (TTM): $305.40M as of Mar 31, 2022
Net annual income (TTM): $21.60M as of Mar 31, 2022
Free cash flow (TTM): -$84.60M as of Mar 31, 2022
Net Debt Last Fiscal Year: $340.10M as of Mar 31, 2022
Shares outstanding: 17,776,501 as of Mar 31, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization