MISSISSAUGA – Cargojet Inc. reported net earnings of $4.1 million during the first quarter, down from $48 million last year.
That amounted to diluted earnings per share of 27 cents during the quarter, down from $2.87 a year earlier.
The company says the decline in net earnings was due to several factors, including a decline in gross margin of $12.4 million and higher expenses.
Cargojet says its revenue reached $254.7 million during the period, rising year-over-year from $249.9 million.
The company says its board of directors declared a cash dividend of 38.5 cents per common share.
Earlier this month, Cargojet announced an agreement to divest its minority stake in U.S.-based air cargo operator 21 Air LLC.
This report by The Canadian Press was first published May 4, 2026.
Companies in this story: (TSX:CJT)
