CAE profits drop as Iran war takes a toll on demand for pilot training

CAE Inc. chief executive Matthew Bromberg, left, and Prime Minister Mark Carney tour company facilities in Montreal on Tuesday, Feb. 17, 2026. THE CANADIAN PRESS/Christinne Muschi

MONTREAL — CAE Inc. says profits plunged in its latest quarter amid conflict in the Middle East, even as revenues ticked up.

The flight simulator maker says net income attributable to shareholders sank 46 per cent year-over-year to $73.1 million in the three months ended March 31 from $135.9 million in the same period last year.

The Montreal-based company says fourth-quarter revenues rose four per cent to $1.33 billion from $1.28 billion a year earlier.

On an adjusted basis, earnings decreased to 42 cents per share in the quarter from 47 cents per share, roughly in line with analysts’ expectations, according to financial markets firm LSEG Data & Analytics.

CEO Matthew Bromberg says softer demand for civil aviation training and tumult caused by the Iran war weighed on an otherwise “solid performance” throughout its fiscal year.

For the coming year, CAE expects revenue growth in the low-single-digit percentage range and adjusted earnings per share of between $1.21 to $1.28.

This report by The Canadian Press was first published May 21, 2026.

Christopher Reynolds, The Canadian Press