CGI (GIB) Q4 2024 earnings summary

Executive summary

• Q4 revenue reached CAD 3.7 billion ($3.66 billion), up 4.4% year over year, with strong growth in Europe, UK, Australia, and Asia-Pacific segments.

• Net earnings for Q4 were CAD 436 million ($435.9 million), with diluted EPS up 8.5% to CAD 1.91 ($1.91).

• Bookings for Q4 were CAD 3.8 billion ($3.82 billion), with a book-to-bill ratio of 104%, and global backlog at CAD 28.7 billion ($28.72 billion).

• Full-year adjusted EBIT margin improved to 16.5%, and diluted EPS rose 7.8% to CAD 7.62 ($7.31).

• Strong cash generation supported investments, acquisitions, and shareholder returns, with a positive outlook for 2025.

Financial highlights

• Q4 adjusted EBIT was CAD 600 million ($600.2 million), margin 16.4%, up 10 bps year over year.

• Net earnings margin for Q4 was 11.9%; diluted EPS excluding specific items was CAD 1.92 ($1.92), up 7.3%.

• Fiscal 2024 adjusted EBIT reached CAD 2.42 billion ($2.42 billion), margin 16.5%.

• Cash from operations in Q4 was CAD 629 million ($629.1 million), 17.2% of revenue; full-year cash from operations exceeded CAD 2.2 billion ($2.20 billion), 15% of revenue.

• Dividend of CAD 0.15 ($0.15) per share declared, payable December 20, 2024.

Outlook and guidance

• Fiscal 2025 plan includes continued investment in end-to-end services, AI, and managed services to meet rising client demand.

• Pipeline up 20% year over year, with strong demand for managed services and AI-driven solutions.

• Managed services expected to remain robust; business consulting (SI&C) demand remains soft but may recover as financial sector rebounds.

• M&A activity expected to accelerate, with a strong pipeline and favorable market conditions.

• Forward-looking statements note risks from economic, political, and industry factors, as well as execution of growth and integration strategies.