Montréal (Québec), February 1, 2024

CGI (TSX: GIB.A) (NYSE: GIB) “CGI began fiscal year 2024 in a strong position, again demonstrating the resilience of our model and the disciplined execution of our plan,” said George D. Schindler, President and Chief Executive Officer. “The combination of our trusted client partnerships and end-to-end services contributed to bookings of $4.2 billion in the quarter and $16.4 billion, or 114% of revenue, over the last 12 months. CGI’s outcome-based offerings, particularly those focused on generating cost savings and accelerating modernization—including through AI—continue to resonate with clients. Our robust balance sheet, further strengthened in the quarter by the operational and delivery excellence of our team, enables us to continue driving our build and buy profitable growth strategy.”

Q1-F2024 performance highlights

  • Revenue of $3.60 billion, up 4.4% year-over-year or 1.5% year-over-year in constant currency1;
  • Earnings before income taxes of $527.1 million, up 2.0% year-over-year, for a margin1 of 14.6%;
  • Adjusted EBIT1 of $584.2 million, up 5.4% year-over-year, for a margin1 of 16.2%;
  • Net earnings of $389.8 million, up 1.9% year-over-year, for a margin1 of 10.8%;
  • Net earnings excluding specific items1,2 of $427.2 million, up 7.3% year-over-year, for a margin1 of 11.9%;
  • Diluted EPS of $1.67, up 4.4% year-over-year;
  • Diluted EPS excluding specific items1,2 of $1.83, up 10.2% year-over-year;
  • Cash from operating activities of $577.2 million, representing 16.0% of revenue1;
  • Bookings1 of $4.19 billion, for a book-to-bill ratio1 of 116.2%; and
  • Backlog1 of $26.57 billion or 1.8x annual revenue.

Note: All figures in Canadian dollars. Q1-F2024 MD&A, interim condensed consolidated financial statements and accompanying notes can be found at and have been filed with the Canadian Securities Administrators on SEDAR+ at and the U.S. Securities and Exchange Commission on EDGAR at

1 Constant currency revenue growth, diluted EPS excluding specific items, adjusted EBIT, adjusted EBIT margin, net earnings excluding specific items, net earnings margin excluding specific items and diluted EPS excluding specific items are non-GAAP financial measures or ratios. Earnings before income taxes margin, net earnings margin, cash from operating activities as a percentage of revenue, bookings, book-to-bill ratio, and backlog are key performance measures. See “Non-GAAP and other key performance measures” section of this press release for more information, including quantitative reconciliations to the closest International Financial Reporting Standards (IFRS) measure, as applicable. These are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other companies.

2 Specific items in Q1-F2024 include: $1.7 million in acquisition-related and integration costs and $35.7 million from the cost optimization program, both net of tax; Specific items in Q1-F2023 include: $15.8 million in acquisition-related and integration costs, net of tax.


Download PDF