CAE, Inc. (NYSE:CAE) Q1 2024 Results Conference Call August 9, 2023 2:00 PM ET
Company Participants
Andrew Arnovitz - SVP, IR & Enterprise Risk Management
Marc Parent - President and CEO
Conference Call Participants
Konark Gupta - Scotiabank
Noah Poponak - Goldman Sachs
Kevin Chiang - CIBC
James McGarragle - RBC Capital Markets
Tim James - TD Securities
Cameron Doerksen - National Bank Financial
Kristine Liwag - Morgan Stanley
Michael Kypreos - Desjardins Capital Markets
Operator
Good day, ladies and gentlemen. Welcome to the CAE First Quarter Conference Call. Please be advised that this call is being recorded.
I would now like to turn the meeting over to Mr. Andrew Arnovitz. You may now proceed, Mr. Arnovitz.
Andrew Arnovitz
Good afternoon, everyone, and thank you for joining us today. Before we begin, I'd like to remind you that today's remarks, including management's outlook and answers to questions contain forward-looking statements. These forward-looking statements represent our expectations as of today, August 9, 2023, and accordingly, are subject to change. Such statements are based on assumptions that may not materialize and are subject to risks and uncertainties. Actual results may differ materially, and listeners are cautioned not to place undue reliance on these forward-looking statements.
A description of the risks factors and assumptions that may affect future results is contained in CAE's annual MD&A available on our corporate website and in our filings with the Canadian Securities Administrators on SEDAR and the U.S. Securities and Exchange Commission on EDGAR.
On the call with me this afternoon is Marc Parent, CAE's President and Chief Executive Officer. Sonya Branco, our Chief Financial Officer is unfortunately under the weather today, so I'll be covering off her remarks. Also, on hand with us is Constantino Malatesta, our Corporate Controller.
After remarks from Marc and me, we'll open the call to questions from financial analysts. And at the conclusion of that segment, we'll open the line to members of the media.
Let me now turn the call over to Marc.
Marc Parent
Thank you, Andrew. And good afternoon to everyone joining us on the call. We're off to a strong start to the fiscal year with first quarter results driven by double-digit year-over-year growth in Civil, continued strengthening and transformation in defense and increased profitability in healthcare. We've made excellent progress to secure CAE's future growth with over $1 billion in total order intake for a record $11.2 billion backlog. We also further bolstered our financial position and we're on track to meet our leverage target by mid fiscal year.