CAE (CAE) Company Report

CAE has signed a worldwide cooperation agreement with Saab, positioning CAE as Saab's preferred supplier for select training and simulation requirements related to its GlobalEye Airborne Early Warning and Control (AEW&C) aircraft and other platforms.
This partnership also includes a specific agreement to jointly pursue Canada's AEW&C program.
Under the global agreement, CAE will provide simulation-based training solutions, encompassing flight training devices, integrated mission platforms, and a modern training ecosystem, as well as pilot and maintenance training services.

Nov 20, 2025, 8:25 PM

Press Release

CAE Inc. Reports Second Quarter Fiscal 2026 Results

CAE

Earnings

Guidance Update

New Projects/Investments

CAE Inc. reported revenue of $1,236.6 million for the second quarter of fiscal 2026, marking a 9% increase from $1,136.6 million in the prior year.
Earnings per share (EPS) rose 44% to $0.23, compared to $0.16 in the prior year, while adjusted EPS was $0.23, a 4% decrease from $0.24.
Net cash provided by operating activities increased 32% to $214.0 million, and free cash flow grew 44% to $201.0 million year-over-year.
The company announced organizational updates as part of a transformation plan to sharpen its portfolio, strengthen capital discipline, and elevate performance.
The fiscal 2026 outlook for Civil Aviation adjusted segment operating income (aSOI) was revised to be roughly in line with the prior year, while the Defense segment's outlook for low double-digit annual aSOI growth and an 8% to 8.5% aSOI margin was maintained.

Nov 12, 2025, 1:10 PM

6-K

CAE Reports Q2 2026 Results and Initiates Transformation Plan

CAE

Earnings

Management Change

Guidance Update

CAE reported Q2 2026 consolidated revenue of $1.24 billion, a 9% increase year-over-year, and adjusted segment operating income of $155.3 million, up 4%.
Adjusted EPS for Q2 2026 was $0.23, with net cash from operating activities increasing to $214 million and free cash flow rising 44% to $201 million.
The company is implementing a transformation plan focusing on portfolio sharpening, disciplined capital management, and operational excellence, which includes organizational changes like eliminating the Chief Operating Officer role.
CAE expects to generate strong free cash flow for the year with approximately 150% conversion of adjusted net income and aims to reach 2.5x net debt-to-adjusted EBITDA by fiscal year-end.
Fiscal year 2026 capital expenditures are projected to be 10% lower year-over-year, with civil performance expected to be roughly in line with the prior year, while the defense full-year outlook is maintained.

Nov 12, 2025, 1:00 PM

Transcript

CAE Reports Q2 2026 Results and Outlines Transformation Plan

CAE

Earnings

Management Change

Guidance Update

CAE reported Q2 2026 consolidated revenue of $1.24 billion, a 9% increase year-over-year, and adjusted segment operating income of $155.3 million, up 4%. Adjusted EPS for the quarter was $0.23.
The company generated $201 million in free cash flow, a 44% increase from the prior year, and expects total capital expenditures in fiscal 2026 to be 10% lower year-over-year. CAE aims to reduce its net debt-to-adjusted EBITDA ratio to 2.5 times by the end of the fiscal year.
New CEO Matthew Bromberg is implementing a transformation plan focused on portfolio sharpening, disciplined capital management, and operational excellence, which includes organizational restructuring and the elimination of the Chief Operating Officer role.
The Civil segment's revenue grew 5% to $670 million with an $8.5 billion adjusted backlog, while the Defense segment's revenue increased 14% to $566.6 million, supported by significant new defense spending projected in Canada.

Nov 12, 2025, 1:00 PM

Transcript

CAE Announces Q2 2026 Results and Transformation Plan

CAE

Earnings

Management Change

New Projects/Investments

CAE reported Q2 2026 consolidated revenue of $1.24 billion, a 9% increase year-over-year, with adjusted segment operating income up 4% to $155.3 million and adjusted EPS of $0.23.
The company generated $201 million in free cash flow, a 44% increase from the prior year, and expects to achieve a net debt-to-adjusted EBITDA ratio of 2.5 times by the end of the fiscal year from 2.66 times in Q2 2026.
CAE is implementing a transformation plan focused on sharpening its portfolio, disciplined capital management, and improved performance, which includes organizational changes such as eliminating the Chief Operating Officer role and consolidating leadership in Civil and Defense segments.
Capital expenditures are expected to decrease by 10% year-over-year in fiscal 2026, with a 25% reduction in civil spending, as the company tightens capital approval policies and expects R&D spending to moderate.
The Civil segment saw revenue grow 5% to $670 million, but training center utilization decreased to 64% from 70%, and quarterly civil order intake was $593 million with a book-to-sales ratio of 0.88 times; however, the civil adjusted backlog remains strong at $8.5 billion, up 27% year-over-year. The Defense segment's revenue grew 14% to $566.6 million, and its adjusted operating income increased 41%.

Nov 12, 2025, 1:00 PM

Transcript

CAE Reports Second Quarter Fiscal 2026 Results

CAE

Earnings

Management Change

Guidance Update

For the second quarter ended September 30, 2025, CAE reported revenue of $1,236.6 million, an increase from $1,136.6 million in the prior year, with earnings per share (EPS) of $0.23 (up from $0.16) and adjusted EPS of $0.23 (down from $0.24).
Net cash provided by operating activities was $214.0 million and free cash flow was $201.0 million, representing increases from $162.1 million and $140.0 million, respectively, in the prior year's second quarter.
CAE announced organizational updates as part of a transformation plan, including eliminating the Chief Operating Officer role and streamlining leadership in Civil Aviation and Defense segments, and also revised its Civil outlook for fiscal 2026 while maintaining its Defense outlook.
Net debt at quarter-end was $3,186.5 million, resulting in a net debt-to-adjusted EBITDA ratio of 2.66 times, an improvement from 2.75 times at the end of the preceding quarter.

Nov 11, 2025, 9:14 PM

Press Release

NeOnc Technologies Closes AI and 3D Bioprinting IP Acquisition, Appoints Dr. Puri to Board

CAE

M&A

Board Change

New Projects/Investments

NeOnc Technologies Holdings, Inc. (NASDAQ:NTHI) announced the closing of its acquisition of an intellectual property (IP) portfolio featuring artificial intelligence, 3D bioprinting, and quantum modeling technologies.
The transaction for the IP portfolio was valued at $3.5 million, comprising $500,000 in cash and $3 million in NeOnc common stock at a price of $25 per share.
This acquisition is expected to significantly fortify NeOnc’s drug discovery engine, enabling the creation of patient-derived 3D brain tumor models and high-throughput screening of therapeutic candidates, which is designed to de-risk and shorten the preclinical development timeline.
Concurrent with the acquisition's closing, NeOnc formally welcomed Dr. Ishwar K. Puri, Senior Vice President of Research and Innovation at the University of Southern California (USC), to its Board of Directors.