CGI Inc. (NYSE:GIB) Q3 2024 Earnings Conference Call July 31, 2024 9:00 AM ET

Company Participants

Kevin Linder - SVP, IR
Steve Perron - EVP & CFO
George Schindler - President and CEO

Conference Call Participants

Daniel Chan - TD Cowen
Suthan Sukumar - Stifel
Thanos Moschopoulos - BMO Capital Markets
Surinder Thind - Jefferies
Jerome Dubreuil - Desjardin
Stephanie Price - CIBC
Paul Treiber - RBC Capital Markets
Steven Li - Raymond James
Richard Tse - National Bank Financial
Divya Goyal - Scotiabank

Operator

Good morning ladies and gentlemen. Welcome to CGI's Third Quarter Fiscal 2024 Conference Call. I’d now like to turn the meeting over to Mr. Kevin Linder, SVP of Investor Relations. Please go ahead, Mr. Linder.

Kevin Linder

Thank you, Julie and good morning. With me to discuss CGI's Third Quarter Fiscal 2024 Results are George Schindler, our President and CEO; and Steve Perron, Executive Vice President and CFO. This call is being broadcast on cgi.com and recorded live at 9:00 a.m. Eastern Time on Wednesday, July 31, 2024. Supplemental slides as well as the press release we issued earlier this morning are available for download, along with our Q3 MD&A, financial statements and accompanying notes, all of which have been filed with both SEDAR+ and EDGAR.

Please note that some statements made on the call may be forward-looking. Actual events or results may differ materially from those expressed or implied, and CGI disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The complete Safe Harbor statement is available in both our MD&A and press release as well as on cgi.com.

We recommend our investors read it in its entirety. We are reporting our financial results in accordance with International Financial Reporting Standards or IFRS. As always, we will also discuss non-GAAP performance measures, which should be viewed as supplemental. The MD&A contains definitions of each one used in our reporting. All of the dollar figures expressed on this call are Canadian, unless otherwise noted.

I'll now turn it over to Steve to review our Q3 financials and then George will comment on our business and market outlook. Steve?

Steve Perron

Thank you, Kevin and good morning, everyone. I'm pleased to share with you the results of our third quarter of fiscal 2024. In Q3 we delivered $3.7 billion of revenue, up 1.3% year-over-year or up 0.2% when excluding the impact of foreign exchange. The strongest CGI segments were Northwest and Central East Europe at 10% constant currency growth; Asia Pacific at 5.4%; Finland, Poland and Baltics at 3.2%; and US commercial and state government at 2%.