“I am pleased with our performance in the second quarter and throughout the first half of the fiscal year,” said George D. Schindler, President and Chief Executive Officer. “Our team again delivered double-digit EPS accretion and sustained margin expansion, both driven by a combination of strong revenue growth and operational discipline. We continue to invest in talent and end-to-end offerings that are aligned with evolving client demand, notably to help clients achieve business efficiencies and IT cost savings, while simultaneously progressing their enterprise digitization agendas.”
Q2-F2023 performance highlights
- Revenue of $3.72 billion, up 13.7% year-over-year or 11.4% year-over-year in constant currency;
- Earnings before income taxes of $564.5 million, up 13.2% year-over-year, for a margin of 15.2%;
- Adjusted EBIT of $600.8 million, up 14.7% year-over-year, for a margin of 16.2%;
- Net earnings of $419.4 million, up 12.7% year-over-year, for a margin of 11.3%;
- Net earnings excluding specific items of $435.0 million, up 16.3% year-over-year, for a margin of 11.7%;
- Diluted EPS of $1.76, up 15.0% year-over-year;
- Diluted EPS excluding specific items of $1.82, up 19.0% year-over-year;
- Cash from operating activities of $469.1 million, representing 12.6% of revenue;
- Bookings of $3.84 billion, for a book-to-bill ratio of 103.3%; and
- Backlog of $25.24 billion or 1.8x annual revenue.
Note: All figures in Canadian dollars. Q2-F2023 MD&A, interim condensed consolidated financial statements and accompanying notes can be found at cgi.com/investors and have been filed with the Canadian securities regulators on SEDAR at www.sedar.com and the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov.