Welcome to our dedicated page for CGI news (Ticker: GIB), a resource for investors and traders seeking the latest updates and insights on CGI stock.
CGI Inc. (NYSE: GIB) is a global IT consulting leader driving digital transformation across government, finance, and enterprise sectors. This page aggregates official announcements and verified news to help stakeholders track corporate developments impacting CGI's market position and strategic direction.
Access real-time updates on earnings reports, technology partnerships, and operational milestones. Our curated feed includes press releases related to systems integration projects, managed IT expansions, and governance updates – all essential for assessing CGI's performance in the competitive IT services landscape.
Key coverage areas: quarterly financial results, major contract awards, leadership changes, and innovation initiatives in AI-driven solutions. Bookmark this resource to stay informed about CGI's global delivery network enhancements and sector-specific service expansions.
CGI reported strong Q3 F2022 results with revenue of $3.26 billion, reflecting a 7.9% increase year-over-year, and 11.5% growth in constant currency. Adjusted EBIT rose 9.0% to $519.9 million, with a margin of 16.0%. Net earnings were $364.3 million, stable year-over-year, leading to a diluted EPS of $1.51, up 11.0%. Bookings totaled $3.41 billion, yielding a book-to-bill ratio of 104.7%. The backlog stands at $23.24 billion, amounting to 1.8x annual revenue.
CGI will announce its third quarter fiscal year 2022 results on July 27, 2022, prior to market opening. The financials will cover the period ending June 30, 2022. A conference call is scheduled for 9:00 a.m. EDT, featuring insights from George D. Schindler (President and CEO) and François Boulanger (CFO). Interested parties can access the call via a dedicated conference line or through a live webcast available on their investor relations page.
CGI is set to release its third quarter fiscal year 2022 results on July 27, 2022, before the market opens. The conference call, led by CEO George D. Schindler and CFO François Boulanger, will take place at 9:00 a.m. EDT to discuss the results. The company, known for its extensive IT and consulting services, reported $12.13 billion in revenue for fiscal year 2021. Investors can access the live webcast through CGI's IR section.
CGI (NYSE: GIB) has secured a 10-year extension of its partnership with the State of Arizona to upgrade the Arizona Financial Information System (AFIS) using CGI Advantage®—a government-specific enterprise resource planning solution. This partnership aims to modernize Arizona's financial system through a secure, cloud-based, mobile-first platform, enhancing efficiency and decision-making capabilities. With over 31 million transactions processed annually, AFIS is critical for state agencies. The collaboration underscores CGI's commitment to delivering innovative solutions to maximize value and reduce operating costs.
On July 18, 2022, CGI Inc. (NYSE: GIB; TSX: GIB.A) announced it has successfully concluded a simplified tender offer, acquiring 2,428,749 Umanis shares, bringing its total ownership to 91.54% of the company's capital. This acquisition allows CGI France to initiate a squeeze-out procedure at €17.15 per share. Umanis shares have been suspended since July 14, 2022. CGI aims to integrate Umanis to enhance client services and leverage digital transformation capabilities post-acquisition.
CGI (NYSE: GIB) announced that Peoples Trust Company (PTC), a major player in Canadian financial services, has selected CGI All Payments to enhance its payment processing capabilities. This partnership marks a significant milestone as PTC becomes the first new direct participant in Canada's Automated Clearing Settlement System (ACSS) in nearly 40 years. CGI All Payments will modernize PTC's payment systems, supporting its strategic growth plan and expanding its offerings in the competitive Canadian payments landscape.
CGI has received UiPath Service Network certification, affirming its capabilities in robotic process automation (RPA). This certification positions CGI as a key service delivery partner for UiPath solutions, enabling organizations to enhance digital operating models and increase efficiencies. A survey of 1,700 executives highlights RPA as a top three innovation investment over the next three years. CGI's revenues were reported at C$12.13 billion for Fiscal 2021, with a strong focus on delivering automation consulting services globally.
CGI Federal has announced a redesign of its Momentum® Acquisitions module, aimed at enhancing user experience for federal contractors. This initiative, developed in collaboration with federal clients, introduces a new interface and expanded features to meet growing compliance and efficiency needs. Currently used by around 10,000 federal professionals across various departments, the improved module is vital for navigating day-to-day contract challenges, allowing users to focus on high-value tasks. This aligns with CGI's commitment to address the unique acquisition demands within the federal landscape.
CGI (NYSE: GIB) has successfully implemented its cloud-based Momentum® Acquisitions contract-writing system at the U.S. Department of Veterans Affairs (VA), marking a significant step in the VA's Financial Management Business Transformation (FMBT). This integration allows for the first-time unification of financial and acquisition systems within the Integrated Financial and Acquisition Management System (iFAMS). The transformation aims to enhance transparency and operational scalability while improving service delivery to veterans. Future rollouts are planned for October 2022 to support 5,000 contracting professionals.
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