Cargojet Inc. Reports First‑Quarter 2026 Financial Results and Declares Dividend

Cargojet Inc. (TSX: CJT) released its first‑quarter 2026 earnings on May 4, 2026, announcing a non‑GAAP earnings per share of C$0.60 and total revenue of C$254.7 million. The figures were published alongside a declaration of a quarterly dividend, marking the first dividend payout for the company since its inception.

First‑Quarter Results

  • Revenue: C$254.7 million, representing a decline relative to the same period in the previous year.
  • Non‑GAAP EPS: C$0.60, down from the 2025 first‑quarter EPS of C$3.07 per share.
  • Guidance: The company confirmed its expectations for the 2026 fiscal year, projecting an average earnings per share of C$3.81 versus C$5.24 in 2025. Analysts had forecast a 2026 revenue of C$1.01 billion, up from C$992.7 million in the prior year.

Financial analysts noted that Cargojet experienced a 2.28 % revenue decline in the March quarter compared with the previous year, while the company’s market capitalization stood at approximately C$1.23 billion as of the close on April 30, 2026.

Dividend Declaration

Cargojet declared a quarterly dividend following its earnings announcement. The dividend was approved by the board of directors and will be paid to shareholders of record as of the specified date. The move reflects the company’s confidence in its liquidity position and its commitment to returning value to investors.

New Routes and Service Expansion

In addition to its financial reporting, Cargojet announced the commencement of new freight operations in partnership with Amerijet. The two carriers will begin freight flights to Caracas on the basis of a joint service agreement, expanding Cargojet’s reach beyond its existing Canada, Bermuda, and Poland operations. The expansion is intended to increase capacity on the Caribbean corridor and tap into growing demand for air cargo services in Latin America.

Market Context

Cargojet’s performance and dividend declaration come amid a broader earnings season that includes several other Canadian industrial and logistics firms. The company’s shares traded in the $65.60–$113.89 range over the past 52 weeks, with a closing price of C$77.62 on April 30, 2026. Its price‑earnings ratio was 14.82 at that time.

All figures are sourced from the company’s official releases and reputable financial news outlets, including Seeking Alpha, Newswire, and AeroTelegraph.