CAE earnings date and guidance
CAE's next results are expected on November 10, 2026. Watch customer retention and cash conversion.
What has CAE guided for the year?
FY2027 adjusted EPS guidance is C$1.21–C$1.28. Adjusted segment operating-income margin guidance is 14.6%–15.1%. Management expects cash conversion of 85.0%–95.0%, while Civil revenue is flat to slightly down as training demand softens.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Adjusted segment operating income margin | Year to Mar 2027 | 14.6% | 15.1% | Aug 12, 2026 |
| Adjusted EPS | Year to Mar 2027 | 1.21 | 1.28 | Aug 12, 2026 |
| Cash conversion rate | Year to Mar 2027 | 85.0% | 95.0% | Aug 12, 2026 |
| Revenue | Year to Mar 2027 | Aug 12, 2026 |
What this means. The blank revenue range means the company gave only an expected low single-digit growth rate, not exact revenue amounts.
Has CAE kept its past promises?
The transformation plan now has an early test. CAE targeted C$125 million–C$150 million in annual savings by fiscal 2030, and McLeod reported that six simulators had been retired on the August results call while management retained its targets. These are milestones, not completed savings. CAE also reduced its Civil outlook in November 2025. The fairest judgment is therefore provisional: governance pressure and pay design have improved, but shareholders still need to see promises converted into cash, returns and disciplined decisions.
What has CAE's revenue and profit trend been?
Revenue increased 6.8% to C$1,173.4 million in the June 2026 quarter. Gross margin improved from 28.1% to 29.2%, but operating income fell from C$133.8 million to C$86.8 million.
Civil shows the operational pressure. Revenue rose 5.6%, but adjusted segment operating income fell 13.7%. Its margin declined from 20.2% to 16.5%. CAE cited credit-related charges, a smaller simulator-sales contribution, and weaker joint-venture profitability linked to Middle East disruption.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,173.4 | 1,326.7 | 1,252.1 | 1,236.6 | 1,098.6 | 1,275.4 | 1,223.4 | 1,136.6 |
| Gross margin | 29.2% | 30.2% | 28.9% | 25.8% | 28.1% | 30.6% | 27.8% | 25.6% |
| Operating income | 86.8 | 127.4 | 195.8 | 155.3 | 133.8 | 239.9 | 262.6 | 118.1 |
| Net income | 31.0 | 73.1 | 108.9 | 73.9 | 57.2 | 135.9 | 168.6 | 52.5 |
| EPS, diluted | 0.10 | 0.23 | 0.34 | 0.23 | 0.18 | 0.42 | 0.53 | 0.16 |
| = Free cash flow | 103.0 | 129.2 | 343.1 | 108.7 | -138.0 | 196.6 | 311.9 | 91.2 |
What this means. Free cash flow is lower than cash from operations because it subtracts money spent on equipment and lease payments.
What should investors watch in CAE's next results?
During calendar 2027, investors must also track the expiry or extension of CAE’s NATO flying-training contract and the handoff to FAcT through SkyAlyne. The same trainees may continue receiving instruction, but the entity delivering the work, recording the revenue and receiving the cash may change. That transition, alongside customer retention and cash conversion, will show whether CAE can pay for what comes next.