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Cargojet Inc T.CJT

Alternate Symbol(s):  T.CJT.DB.E | T.CJT.DB.F | CGJTF

Industrials
Cargojet Inc. is a Canada-based company, which is a provider of time-sensitive premium air cargo services to all major cities across North America. The Company also provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis, operating between points in Canada, the United States of America, Mexico, South America, Europe, and Asia. The Company operates scheduled international routes for multiple cargo customers between the United States of America and Bermuda, Canada, the United Kingdom, and Germany, and between Canada and Mexico. The Company offers ACMI, and international charter services and carries approximately 25,000,000 pounds of cargo weekly. It operates its network with its own fleet of 39 aircraft.


TSX:CJT - Post by User

Cargojet Inc
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Post by retiredcfon Jul 26, 2022 10:26am
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Post# 34850839

RBC

RBCJuly 26, 2022

Cargojet Inc.
Connecting The Dots: CJT flash read-through – UPS reports Q2 results

TSX: CJT | CAD 136.69 | Outperform | Price Target CAD 302.00

Sentiment: Neutral

CJT – neutral to sentiment: UPS Q2 results highlight higher revenue offset by lower volumes y/y. UPS today reported Q2 revenue and EPS that came in ahead of consensus expectations. Results were higher y/y due to increased revenue and better operating margins. Overall, we view this as a neutral read-through for CJT as: 1) 2022 guidance was reiterated highlighting, in our view, that the demand outlook is trending in line with expectations; and (offsetting) 2) Next Day Air revenue was up +8% y/y on lower volume. On the call, key will be colour on the eCommerce outlook and visibility into international air cargo capacity. See our CJT Q2 preview note here.

What happened? UPS today announced Q2/22 consolidated revenue of $24.8B, a +6% increase y/y (US Domestic Network Next Day Air revenue was up +8% y/y). Consolidated average daily package volume decreased -5% y/y and US Domestic Next Day Air volume was down -8% y/y. Adjusted diluted EPS came in at $3.29, or up +8% y/y, and above consensus $3.16.


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