CGI Board Renews NCIB for 18.98M Shares Following Strong Q1-F2026 Results

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CGI reported Q1-F2026 revenue of C$4.08 billion (+7.7% YoY; +3.4% cc) and adjusted EPS of C$2.12 (+7.6%), generating C$872 million in operating cash and holding a C$31.3 billion backlog (1.9× revenue; 109.5% book-to-bill). The board renewed NCIB to buy back up to 18.98 million Class A shares (10% of float) from February 6 2026 to February 5 2027.

1. Strong Q1 Fiscal 2026 Performance

CGI delivered first quarter revenue of $4.08 billion, marking a 7.7% year-over-year increase (3.4% in constant currency). Earnings before income taxes rose 1.4% to $599.8 million, generating a 14.7% pre-tax margin. Adjusted EBIT grew 7.1% to $655.1 million, representing a 16.1% margin, while net earnings reached $442.0 million for a 10.8% margin. Diluted EPS climbed 5.7% to $2.03, and adjusted diluted EPS increased 7.6% to $2.12. Cash provided by operating activities was a record $871.9 million (21.4% of revenue), bookings totaled $4.47 billion for a 109.5% book-to-bill ratio, and backlog stood at $31.32 billion (1.9x annual revenue). The company ended the quarter with approximately 94,000 consultants and professionals worldwide.

2. Renewal of Normal Course Issuer Bid

On January 28, 2026, CGI’s Board authorized the renewal of its NCIB, subject to TSX approval, allowing repurchase and cancellation of up to 18,975,360 Class A subordinate voting shares (approximately 10% of the public float as of January 23, 2026). Under TSX rules, daily purchases on the TSX are capped at 25% of the six-month average daily trading volume of 460,867 shares (115,216 shares per day). Shares may also be acquired on the NYSE, through alternative trading systems or outside exchange facilities under exemption orders. During the prior NCIB (Feb. 6, 2025–Feb. 5, 2026), CGI purchased 12,945,271 shares for cancellation at a weighted average price of $133.10 for total consideration of $1.72 billion. The renewed program runs from February 6, 2026, to February 5, 2027, or until the maximum repurchase amount is reached.

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