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Cargojet Inc. (T:CJT)

Business Focus: Air Freight

Sector:  Industrials Industry:  Courier, Postal, Air Freight & Land-based Logistics
Company Contact
Address: 2281 North Sheridan Way
Tel: 1-905-5017373
IR: See website
Key People
Ajay Virmani
Executive Chairman of the Board, Founder
Jamie B. Porteous
Co-Chief Executive Officer
Pauline Dhillon
Co-Chief Executive Officer
Scott Calver
Chief Financial Officer
Leo Cordeiro
Senior Vice President - Maintenance and Engineering
George Sugar
Senior Vice President - Regulatory Compliance
Business Overview
Cargojet Inc. is a Canada-based company, which is a provider of time-sensitive premium air cargo services to all major cities across North America. The Company also provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis, operating between points in Canada, the United States of America, Mexico, South America, Europe, and Asia. The Company operates scheduled international routes for multiple cargo customers between the United States of America and Bermuda, Canada, the United Kingdom, and Germany, and between Canada and Mexico. The Company offers ACMI, and international charter services and carries approximately 25,000,000 pounds of cargo weekly. It operates its network with its own fleet of 39 aircraft.
Financial Overview
For the three months ended 31 March 2024, Cargojet Inc revenues decreased less than 1% to C$231.2M. Net income increased 7% to C$32.5M. Revenues reflect market conditions. Net income benefited from Interest on debentures decrease of 28% to C$3.6M (expense), Share of (gain) loss in associate decrease from C$600K (expense) to C$300K (income), Bonuses and incentives decrease of 50% to C$900K (expense).
Employees: 1,838 as of Dec 31, 2023
Reporting Currency: Canadian Dollars
Enterprise value: $2,931M as of Mar 31, 2024
Annual revenue (TTM): $876.80M as of Mar 31, 2024
EBITDA (TTM): $284.80M as of Mar 31, 2024
Net annual income (TTM): $39.20M as of Mar 31, 2024
Free cash flow (TTM): -$41.80M as of Mar 31, 2024
Net Debt Last Fiscal Year: $654.60M as of Mar 31, 2024
Shares outstanding: 16,467,077 as of Mar 31, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization