CAE, Inc. (NYSE:CAE) Q4 2023 Earnings Conference Call May 31, 2023 2:00 PM ET
Company Participants
Andrew Arnovitz - SVP, IR & Enterprise Risk Management
Marc Parent - President, CEO & Director
Sonya Branco - EVP, Finance & CFO
Conference Call Participants
Fadi Chamoun - BMO Capital Markets
Konark Gupta - Scotiabank
James McGarragle - RBC Capital Markets
Kristine Liwag - Morgan Stanley
Ronald Epstein - Bank of America Merrill Lynch
Tim James - TD Securities
Noah Poponak - Goldman Sachs Group
Stéphane Rolland - La Presse Canadienne
Fai Lee - Odlum Brown
Michael Kypreos - Desjardins Securities
Operator
Good day, ladies and gentlemen. Welcome to the CAE Fourth Quarter and Full Fiscal Year 2023 Conference Call. Please be advised that this call is being recorded. I would now like to turn the meeting over to Mr. Andrew Arnovitz. Mr. Arnovitz, please proceed.
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 for fiscal year '24 and answers to questions contain forward-looking statements. These forward-looking statements represent our expectations as of today, May 31, 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 are Marc Parent, CAE's President and Chief Executive Officer; and Sonya Branco, our Chief Financial Officer.
After remarks from Marc and Sonya, we'll open the call to questions from financial analysts. At the conclusion of that segment, we'll open the lines 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. I'm pleased with CAE's accomplishments at fiscal 2023, having seized opportunities to expand our position in growing markets with our digitally immersive training and operational support solutions. We did so while navigating through some macroeconomic and legacy related challenges. And over the course of the year, we delivered sequentially stronger quarterly results. We had an excellent fourth quarter with over 40% adjusted segment operating income growth, leading to 23% growth for the year as a whole.