Cargojet Inc. ("Cargojet" or the "Corporation") (TSX: CJT, CJT.A) announced today financial results for the quarter ended March 31, 2019.
For the First Quarter Ended March 31, 2019:
Total Revenues were $110.4 million, an increase of $11.2 million or 11.3% versus the previous year
Gross Margin was $21.2 million, a decrease of $1.9 million or -8.2% versus the previous year
Adjusted EBITDA was $32.3 million, an increase of $4.8 million or 17.5% versus the previous year
Adjusted EBITDAR was $32.6 million, an increase of $2.8 million or 9.4% versus the previous year
"We are very pleased with Cargojet's financial and operating results during the past Quarter" said Ajay Virmani, President and Chief Executive Officer. "We continue to benefit as the primary enabler of e-Commerce growth in Canada and to also grow our ad-hoc and ACMI charter business globally. Our entire Cargojet team continues to be strongly focused on prudent cost management; profitable revenue growth and to providing consistent and reliable service levels to our customers and adding value to our shareholders," he concluded.
Cargojet is Canada's leading provider of time sensitive overnight air cargo services and carries over 1,300,000 pounds of cargo each business night. Cargojet operates its network across North America each business night, utilizing a fleet of all-cargo aircraft. For more information, please visit: www.cargojet.com.