MISSISSAUGA, Ont. — Cargojet Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue fell.
The air cargo company says it had a net loss of $34.9 million or $2.04 per diluted share for the quarter ended Dec. 31.
The loss compared with a profit of $2.6 million or 15 cents per diluted share in the last three months of 2022.
Revenue, excluding warrant amortization, for the quarter was $254.7 million compared with $271.0 million in the same quarter a year earlier.
On an adjusted basis, Cargojet says it lost 14 cents per share in its latest quarter compared with an adjusted profit of 89 cents per share a year earlier.
Cargojet operates a fleet of 41 cargo aircraft.
This report by The Canadian Press was first published Feb. 26, 2024.
Companies in this story: (TSX:CJT)
The Canadian Press
