“In the third quarter of fiscal 2023, our team again delivered double-digit EPS accretion and sustained margin expansion on a year-over-year basis,” said George D. Schindler, President and Chief Executive Officer. “Our results were supported by the combination of our profitable growth strategy, proven operational discipline, and clients’ continued trust in CGI as their partner of choice for delivering ROI-led digitization. Strong quarterly bookings were driven by managed services and intellectual property solutions across geographies, highest in government and financial services sectors. Given the current macro-economic environment, CGI’s diverse portfolio of geographies, industries and services serve as a resilient foundation for profitable growth.”
Q3-F2023 performance highlights
- Revenue of $3.62 billion, up 11.2% year-over-year or 6.3% year-over-year in constant currency;
- Earnings before income taxes of $559.0 million, up 14.3% year-over-year, for a margin of 15.4%;
- Adjusted EBIT of $584.8 million, up 12.5% year-over-year, for a margin of 16.1%;
- Net earnings of $415.0 million, up 13.9% year-over-year, for a margin of 11.5%;
- Net earnings excluding specific items of $425.7 million, up 14.7% year-over-year, for a margin of 11.7%;
- Diluted EPS of $1.75, up 15.9% year-over-year;
- Diluted EPS excluding specific items of $1.80, up 16.9% year-over-year;
- Cash from operating activities of $409.1 million, representing 11.3% of revenue;
- Bookings of $4.39 billion, for a book-to-bill ratio of 121.1%; and
- Backlog of $25.63 billion or 1.8x annual revenue.
Note: All figures in Canadian dollars. Q3-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.sedarplus.ca and the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov.