CGI Q1 Revenue Climbs 7.7% to CA$4.08 Billion; NCIB Extended for 18.98 M Shares
CGI reported Q1-F2026 revenue of CA$4.08 billion, up 7.7% year-over-year (3.4% in constant currency), adjusted EBIT of CA$655.1 million (+7.1%) for a 16.1% margin, and adjusted EPS of CA$2.12 (+7.6%). It generated CA$871.9 million in operating cash flow and renewed its NCIB to repurchase up to 18.98 million shares.
1. Strong First Quarter Fiscal 2026 Results
CGI reported Q1 fiscal 2026 revenue of CAD 4.08 billion, a 7.7% year-over-year increase (3.4% on a constant currency basis). Earnings before income taxes rose 1.4% to CAD 599.8 million, delivering a 14.7% margin, while adjusted EBIT climbed 7.1% to CAD 655.1 million (16.1% margin). Net earnings reached CAD 442.0 million (10.8% margin) and diluted EPS was CAD 2.03, up 5.7%. On an adjusted basis, EPS grew 7.6% to CAD 2.12. The company generated CAD 871.9 million in operating cash flow (21.4% of revenue) and maintained a book-to-bill ratio of 109.5%, with backlog at CAD 31.32 billion (1.9x annual revenue).
2. Renewal of Normal Course Issuer Bid
On January 27, 2026, CGI’s Board approved renewing its NCIB to repurchase up to 18.98 million Class A subordinate voting shares (approximately 10% of the public float as of January 23). The daily purchase limit on the TSX will be 115,216 shares (25% of six-month ADTV of 460,867). Repurchases may begin February 6, 2026 and run until February 5, 2027, or until the maximum is reached. Under the prior bid (Feb 2025–Feb 2026), 12.95 million shares were bought at an average price of CAD 133.10 for a total of CAD 1.72 billion.
3. Celebrating 50 Years and Building What’s Next
Marking its 50th anniversary in 2026, CGI reaffirmed its long-term vision under the theme "Building what’s next." With 94,000 consultants globally and fiscal 2025 revenue of CAD 15.91 billion, the firm emphasizes client proximity, advanced AI, cloud modernization and managed services. Founder Serge Godin highlighted the company’s ownership culture, while CEO François Boulanger underscored CGI’s commitment to delivering measurable outcomes and deepening expertise to support clients through rapid technological and economic change.