{"success":true,"data":{"pressRelease":{"id":"12403","rtpr_id":"nPn6VGZK7a","ticker":"GIB","exchange":"NYSE","all_tickers":["GIB","GIBA"],"title":"CGI reports second quarter Fiscal 2026 results","author":"PR Newswire","published_at":"2026-04-29T10:30:00.826Z","article_body":"CGI reports second quarter Fiscal 2026 results\n\nPR Newswire\n\nMONTRÉAL, April 29, 2026\n\nStock Market Symbols\nGIB.A (TSX)\nGIB (NYSE)\ncgi.com/newsroom\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2625702946&u=http%3A%2F%2Fwww.cgi.com%2Fnewsroom&a=cgi.com%2Fnewsroom)\n\nRevenue up 3.3% with diluted EPS accretion of 10.6%\n\nQ2-F2026 performance highlights\n\n * Revenue of $4.16 billion, up 3.3% year-over-year or 1.6% year-over-year in\nconstant currency(1);\n * Earnings before income taxes of $617.7 million, up 6.0% year-over-year, for a\nmargin(1) of 14.9%;\n * Adjusted earnings before interest and taxes(1,2) of $691.6 million, up 3.9%\nyear-over-year, for a margin(1) of 16.6%;\n * Net earnings of $444.7 million, up 3.5% year-over-year, for a margin(1) of\n10.7%, and diluted EPS of $2.09, up 10.6% year-over-year;\n * Adjusted net earnings(1)(,)(2) of $483.4 million, up 0.6% year-over-year,\nfor a margin(1) of 11.6%, and adjusted diluted EPS(1,2) of $2.27, up 7.1%\nyear-over-year;\n * Cash provided by operating activities of $451.1 million, representing 10.9%\nof revenue(1) and $2.47 billion or 15.1% of revenue on a trailing twelve\nmonth basis;\n * Bookings(1) of $4.31 billion, for a book-to-bill ratio(1) of 103.8% or 108.4%\non a trailing twelve month basis(1); and\n * Backlog(1) of $31.50 billion or 1.9x annual revenue.\nNote: All figures in Canadian dollars. Q2-F2026 MD&A, interim condensed\nconsolidated financial statements and accompanying notes can be found at\ncgi.com/investors\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=3652507050&u=https%3A%2F%2Fwww.cgi.com%2Fen%2Finvestors&a=cgi.com%2Finvestors)\nand have been filed with the Canadian Securities Administrators on SEDAR+ at\nwww.sedarplus.ca\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=57442230&u=https%3A%2F%2Fwww.sedarplus.ca%2Fhome%2F&a=www.sedarplus.ca)\nand the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2400288152&u=https%3A%2F%2Fwww.sec.gov%2F&a=www.sec.gov)\n.\n\nMONTRÉAL, April 29, 2026 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB)\n\nQ2-F2026 results\n\n\"CGI delivered a strong first half of the fiscal year, with industry-leading\nEPS accretion and cash generation,\" said François Boulanger, President and\nChief Executive Officer. \"Even in the context of today's dynamic business\nenvironment, this performance reflects the resilience of our business model,\nthe relationships with our clients, and the outstanding expertise of our\nglobal team. As clients continue to invest in AI, they need a trusted partner\nto address mission-critical environments, modernize complex legacy estates,\nand deliver measurable outcomes. CGI's AI-first strategy—focused on making\nAI real and outcome-driven—positions us well to help clients across every\nindustry and geography.\"\n ______________________________\n (1) Constant currency revenue growth, adjusted earnings before interest and\n taxes, adjusted earnings before interest and taxes margin, adjusted net\n earnings, adjusted net earnings margin and adjusted diluted EPS are non-GAAP\n financial measures or ratios. Earnings before income taxes margin, net\n earnings margin, cash provided by operating activities as a percentage of\n revenue, bookings, book-to-bill ratio, book-to-bill ratio trailing twelve\n months and backlog are key performance measures. See \"Non-GAAP and other key\n performance measures\" section of this press release for more information,\n including quantitative reconciliations to the closest International Financial\n Reporting Standards (IFRS Accounting Standards) measure, as applicable. These\n are not standardized financial measures under IFRS Accounting Standards and\n might not be comparable to similar financial measures disclosed by other\n companies.\n (2) Q2-F2026 adjusted for $38.7 million of restructuring, acquisition and\n related integration costs, net of tax; Q2-F2025 adjusted for $50.9 million of\n restructuring, acquisition and related integration costs, net of tax.\n\nFor the second quarter of Fiscal 2026, the Company reported revenue of\n$4.16 billion, representing a year-over-year growth of 3.3%. When excluding\nforeign currency variations, revenue grew by 1.6% year-over-year.\n\nEarnings before income taxes were $617.7 million, up 6.0% year-over-year, for\na margin of 14.9%, up 40 basis points compared to 14.5% in the same period\nlast year. Recorded in the period were acquisition and related integration\ncosts of $40.9 million.\n\nAdjusted earnings before interest and taxes(1) were $691.6 million, up 3.9%\nyear-over-year, for a margin of 16.6%,  as compared to 16.5% in the same\nperiod last year.\n\nNet earnings were $444.7 million, up 3.5% compared with the same period last\nyear, for a margin of 10.7%, stable when compared to the same period last\nyear. Diluted earnings per share, as a result, were $2.09 compared to $1.89 in\nthe same period last year, representing an increase of 10.6%.\n\nAdjusted net earnings(1) were $483.4 million, up 0.6% compared with the same\nperiod last year, for a margin of 11.6%, down 30 basis points compared to the\nsame period last year. On the same basis, diluted earnings per share increased\nby 7.1% to $2.27 from $2.12 for the same period last year.\n\nCash provided by operating activities was $451.1 million, representing 10.9%\nof revenue. On a trailing twelve month basis, cash provided by operating\nactivities was $2.47 billion, representing 15.1% of revenue.\n\nBookings were $4.31 billion, representing a book-to-bill ratio of 103.8% or\n108.4% on a trailing twelve-month basis. As of March 31, 2026, the Company's\nbacklog reached $31.50 billion, representing 1.9x annual revenue.\n\nAs of March 31, 2026, the number of CGI consultants and professionals\nworldwide stood at approximately 94,000.\n\nDuring the second quarter of Fiscal 2026, the Company invested $104.5 million\nback into its business and invested $396.9 million under its previous and\ncurrent Normal Course Issuer Bid to purchase and cancel Class A subordinate\nvoting shares. In addition, CGI returned $36.2 million back to its\nshareholders through the payment of a dividend.\n\nAs at March 31, 2026, long-term debt and lease liabilities, including both\ntheir current and long-term portions, were $4.30 billion, down from $4.37\nbillion at the same time last year, mainly driven by a foreign exchange impact\nof $68.9 million. As of the same date, net debt(2) stood at $3.57 billion, up\nfrom $3.24 billion at the same time last year. The net debt-to-capitalization\nratio(2) was 26.3% at the end of March 2026, compared to 24.1% at the same\ntime last year.\n\nOn April 28, 2026, the Company's unsecured committed revolving credit facility\nwas increased to $2.50 billion and is now comprised of a three-year tranche\nof $1.00 billion which matures in 2029 and a five-year tranche of\n$1.50 billion which matures in 2031. Both tranches can be further extended.\nThere were no material changes in the terms and conditions, including interest\nrates and banking covenants. The increase will provide additional financial\nagility for future capital requirements.\n _____________________________\n (1) Q2-F2026 adjusted for $38.7 million of restructuring, acquisition and\n related integration costs, net of tax; Q2-F2025 adjusted for $50.9 million of\n restructuring, acquisition and related integration costs, net of tax.\n (2) Net debt and net debt-to-capitalization ratio are non-GAAP financial\n measures or ratios. See \"Non-GAAP and other key performance measures\" section\n of this press release for more information, including quantitative\n reconciliations to the closest IFRS Accounting Standards measure, as\n applicable. These are not standardized financial measures under IFRS\n Accounting Standards and might not be comparable to similar financial measures\n disclosed by other companies.\n\n \n Financial highlights                                                            Q2-F2026  Q2-F2025  Change\n In millions of Canadian dollars except earnings per share and where noted\n Revenue                                                                         4,156.2   4,023.4   132.8\n Year-over-year revenue growth                                                   3.3 %     7.6 %     (430 bps)\n Constant currency revenue growth                                                1.6 %     3.3 %     (170 bps)\n Earnings before income taxes                                                    617.7     582.6     35.1\n Margin %                                                                        14.9 %    14.5 %    40 bps\n Adjusted earnings before interest and taxes(1)                                  691.6     665.7     25.9\n Margin %                                                                        16.6 %    16.5 %    10 bps\n Net earnings                                                                    444.7     429.7     15.0\n Margin %                                                                        10.7 %    10.7 %    0 bps\n Adjusted net earnings(1)                                                        483.4     480.7     2.7\n Margin %                                                                        11.6 %    11.9 %    (30 bps)\n Diluted EPS                                                                     2.09      1.89      0.20\n Adjusted diluted EPS(1)                                                         2.27      2.12      0.15\n Weighted average number of outstanding shares (diluted)                         213.1     227.2     (14.1)\n\nIn millions of shares\n Net finance costs                                                               33.0      16.6      16.4\n Cash and cash equivalents                                                       708.4     1,099.5   (391.1)\n Long-term debt and lease liabilities(2)                                         4,302.9   4,367.9   (65.0)\n Net debt                                                                        3,573.4   3,237.4   336.0\n Net debt to capitalization ratio                                                26.3 %    24.1 %    220 bps\n Cash provided by operating activities                                           451.1     438.2     12.9\n As a percentage of revenue                                                      10.9 %    10.9 %    0 bps\n Days sales outstanding (DSO)(3)                                                 40        40        0\n Purchase for cancellation of Class A subordinate voting shares and related tax  396.9     344.6     52.3\n Return on invested capital (ROIC)(3)                                            13.1 %    15.4 %    (230 bps)\n Bookings                                                                        4,314     4,485     (171)\n Backlog                                                                         31,501    30,987    514\n\nTo access the financial statements – click here\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=167093474&u=https%3A%2F%2Fwww.cgi.com%2Fsites%2Fdefault%2Ffiles%2F2026-04%2Fcgi-q2-2026-fs-2461160-en.pdf&a=click+here)\n\nTo access the MD&A – click here\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2995063623&u=https%3A%2F%2Fwww.cgi.com%2Fsites%2Fdefault%2Ffiles%2F2026-04%2Fcgi-q2-2026-mda-2461160-en.pdf&a=click+here)\n ___________________________________\n (1) Q2-F2026 adjusted for $38.7 million of restructuring, acquisition and\n related integration costs, net of tax; Q2-F2025 adjusted for $50.9 million of\n restructuring, acquisition and related integration costs, net of tax.\n (2) Long-term debt and lease liabilities include both the current and\n long-term portions of the long-term debt and lease liabilities.\n (3) ROIC is a non-GAAP financial measure. DSO is a key performance measure.\n See \"Non-GAAP and other key performance measures\" section of this press\n release for more information, including quantitative reconciliations to the\n closest IFRS Accounting Standards measure, as applicable. These are not\n standardized financial measures under IFRS Accounting Standards and might not\n be comparable to similar financial measures disclosed by other companies.\n\nDeclaration of Dividend\n\nOn April 28, 2026, our Board of Directors approved a quarterly cash dividend\nof $0.17 per share. This dividend is payable to holders of Class A subordinate\nvoting shares and Class B shares (multiple voting) on June 19, 2026, to\nshareholders of record as of the close of business on May 15, 2026. The\ndividend is designated as an 'eligible dividend' for Canadian tax purposes.\n\nQ2-F2026 results conference call\n\nManagement will host a conference call this morning at 9:00 a.m. (EDT) to\ndiscuss results. Participants may access the call by dialing +1-800-717-1738\nConference ID: 74539 or via cgi.com/investors\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=3652507050&u=https%3A%2F%2Fwww.cgi.com%2Fen%2Finvestors&a=cgi.com%2Finvestors)\n. For those unable to participate on the live call, a podcast and copy of the\nslides will be archived for download at cgi.com/investors\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=3652507050&u=https%3A%2F%2Fwww.cgi.com%2Fen%2Finvestors&a=cgi.com%2Finvestors)\n. Interested parties may also access a replay of the call by dialing\n+1-888-660-6264  Passcode: 74539, until May 29, 2026.\n\nAbout CGI\n\nFounded in 1976, CGI is among the largest independent IT and business\nconsulting services firms in the world. With 94,000 consultants and\nprofessionals across the globe, CGI delivers an end-to-end portfolio of\ncapabilities, from strategic IT and business consulting to systems\nintegration, managed IT and business process services and intellectual\nproperty solutions. CGI works with clients through a local relationship model\ncomplemented by a global delivery network that helps clients digitally\ntransform their organizations and accelerate results. CGI Fiscal 2025\nreported revenue is $15.91 billion and CGI shares are listed on the TSX\n(GIB.A) and the NYSE (GIB). Learn more at cgi.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2456095021&u=https%3A%2F%2Fwww.cgi.com%2Fen&a=cgi.com)\n.\n\nForward-looking information and statements\n\nThis press release contains \"forward-looking information\" within the meaning\nof Canadian securities laws and \"forward-looking statements\" within the\nmeaning of the United States Private Securities Litigation Reform Act of 1995\nand other applicable United States safe harbours. All such forward-looking\ninformation and statements are made and disclosed in reliance upon the safe\nharbour provisions of applicable Canadian and United States securities laws.\nForward-looking information and statements include all information and\nstatements regarding CGI's intentions, plans, expectations, beliefs,\nobjectives, future performance, and strategy, as well as any other information\nor statements that relate to future events or circumstances and which do not\ndirectly and exclusively relate to historical facts. Forward-looking\ninformation and statements often but not always use words such as \"believe\",\n\"estimate\", \"expect\", \"intend\", \"anticipate\", \"foresee\", \"plan\", \"predict\",\n\"project\", \"aim\", \"seek\", \"strive\", \"potential\", \"continue\", \"target\", \"may\",\n\"might\", \"could\", \"should\", and similar expressions and variations thereof.\nThese information and statements are based on our perception of historic\ntrends, current conditions and expected future developments, as well as other\nassumptions, both general and specific, that we believe are appropriate in the\ncircumstances. Such information and statements are, however, by their very\nnature, subject to inherent risks and uncertainties, of which many are beyond\nthe control of the Company, and which give rise to the possibility that actual\nresults could differ materially from our expectations expressed in, or implied\nby, such forward-looking information or forward-looking statements. These\nrisks and uncertainties include but are not restricted to: risks related to\nthe market such as the level of business activity of our clients, which is\naffected by economic and political conditions, additional external risks (such\nas pandemics, armed conflict, climate-related issues, inflation, tariffs\nand/or trade wars) and our ability to negotiate new contracts; risks related\nto our industry such as competition and our ability to develop and expand our\nservices to address emerging business demands and technology trends (such as\nartificial intelligence), to penetrate new markets, and to protect our\nintellectual property rights; risks related to our business such as risks\nassociated with our growth strategy, including the integration of new\noperations, financial and operational risks inherent in worldwide operations,\nlegal and operational risks inherent in contracting with government clients,\nforeign exchange risks, income tax laws and other tax programs, the\ntermination, modification, delay or suspension of our contractual agreements,\nour expectations regarding future revenue resulting from bookings and backlog,\nour ability to attract and retain qualified employees, to negotiate favourable\ncontractual terms, to deliver our services and to collect receivables, to\ndisclose, manage and implement environmental, social and governance (ESG)\ninitiatives and standards, and to achieve ESG commitments and targets,\nincluding without limitation, our commitment to reduce our carbon emissions,\nas well as the reputational and financial risks attendant to cybersecurity\nbreaches and other incidents, including through the use of artificial\nintelligence, and financial risks such as liquidity needs and requirements,\nmaintenance of financial ratios, our ability to declare and pay dividends,\ninterest rate fluctuations and changes in creditworthiness and credit ratings;\nas well as other risks identified or incorporated by reference in this press\nrelease, in CGI's annual and quarterly MD&A and in other documents that we\nmake public, including our filings with the Canadian Securities Administrators\n(on SEDAR+ at www.sedarplus.ca\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=57442230&u=https%3A%2F%2Fwww.sedarplus.ca%2Fhome%2F&a=www.sedarplus.ca)\n) and the U.S. Securities and Exchange Commission (on EDGAR at www.sec.gov\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2400288152&u=https%3A%2F%2Fwww.sec.gov%2F&a=www.sec.gov)\n). Unless otherwise stated, the forward-looking information and statements\ncontained in this press release are made as of the date hereof and CGI\ndisclaims any intention or obligation to publicly update or revise any\nforward-looking information or forward-looking statements, whether as a result\nof new information, future events or otherwise, except as required by\napplicable law. While we believe that our assumptions on which these\nforward-looking information and forward-looking statements are based were\nreasonable as at the date of this press release, readers are cautioned not to\nplace undue reliance on these forward-looking information or statements.\nFurthermore, readers are reminded that forward-looking information and\nstatements are presented for the sole purpose of assisting investors and\nothers in understanding our objectives, strategic priorities and business\noutlook as well as our anticipated operating environment. Readers are\ncautioned that such information may not be appropriate for other purposes.\n\nFurther information on the risks that could cause our actual results to differ\nsignificantly from our current expectations may be found in the section titled\nRisk Environment of CGI's MD&A for the three months and six months ended\nMarch 31, 2026 and 2025, which is incorporated by reference in this cautionary\nstatement. We also caution readers that the risks described in the previously\nmentioned section and in other sections of CGI's MD&A for the three months\nand six months ended March 31, 2026 and 2025, and in our other documents and\nfilings are not the only ones that could affect us. Additional risks and\nuncertainties not currently known to us or that we currently deem to be\nimmaterial could also have a material adverse effect on our financial\nposition, financial performance, cash flows, business or reputation.\n\nNon-GAAP and other key performance measures\n\nNon-GAAP financial measures and ratios used in this press release: Constant\ncurrency revenue growth, adjusted earnings before interest and taxes, adjusted\nearnings before interest and taxes margin, adjusted net earnings, adjusted net\nearnings margin, adjusted diluted EPS, net debt, net debt to capitalization\nratio, and return on invested capital (ROIC). CGI reports its financial\nresults in accordance with IFRS Accounting Standards. However, management\nbelieves that these non-GAAP measures provide useful information to investors\nregarding the company's financial condition and results of operations as they\nprovide additional measures of its performance. These measures do not have any\nstandardized meaning prescribed by IFRS Accounting Standards and are therefore\nunlikely to be comparable to similar measures presented by other issuers and\nshould be considered as supplemental in nature and not as a substitute for the\nrelated financial information prepared in accordance with IFRS Accounting\nStandards. Key performance measures used in this press release: cash provided\nby operating activities as a percentage of revenue, bookings, book-to-bill\nratio, book-to-bill ratio trailing twelve months, backlog, days sales\noutstanding (DSO), earnings before income taxes margin, and net earnings\nmargin.\n\nBelow are reconciliations to the most comparable IFRS Accounting Standards\nfinancial measures and ratios, as applicable.\n\nThe descriptions of these non-GAAP measures and ratios and other key\nperformance measures can be found on pages 3, 4, 5 and 6 of our Q2-F2026\nMD&A which is posted on CGI's website, and filed with the Canadian\nSecurities Administrators on SEDAR+ at www.sedarplus.ca\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=57442230&u=https%3A%2F%2Fwww.sedarplus.ca%2Fhome%2F&a=www.sedarplus.ca)\nand the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2400288152&u=https%3A%2F%2Fwww.sec.gov%2F&a=www.sec.gov)\n.\n\nQ2-F2026\n\nReconciliation between constant currency revenue growth and growth\n                                             For the three months ended March 31,         For the six months ended March 31,\n                                             2026           2025           %              2026          2025          %\n In thousands of CAD except for percentages\n Total CGI revenue                           4,156,169      4,023,409      3.3 %          8,234,524     7,808,654     5.5 %\n Constant currency revenue growth            1.6 %                                        2.5 %\n Foreign currency impact                     1.7 %                                        3.0 %\n Variation over previous period              3.3 %                                        5.5 %\n\nReconciliation between earnings before income taxes and adjusted earnings\nbefore interest and taxes\n                                                           For the three months ended March 31,                For the six months ended March 31,\n                                                           2026        % of revenue  2025        % of revenue  2026       % of revenue  2025       % of revenue\n In thousands of CAD except for percentages\n Earnings before income taxes                              617,669     14.9 %        582,616     14.5 %        1,217,461  14.8 %        1,174,362  15.0 %\n Plus the following items:\n Restructuring, acquisition and related integration costs  40,904      1.0 %         66,412      1.7 %         67,149     0.8 %         79,776     1.0 %\n Restructuring                                             —           — %           44,153      1.1 %         —          — %           52,453     0.7 %\n Acquisition and related integration costs                 40,904      1.0 %         22,259      0.6 %         67,149     0.8 %         27,323     0.3 %\n Net finance costs                                         33,035      0.8 %         16,631      0.4 %         62,111     0.8 %         23,243     0.3 %\n Adjusted earnings before interest and taxes               691,608     16.6 %        665,659     16.5 %        1,346,721  16.4 %        1,277,381  16.4 %\n\nAdjusted Net Earnings and Earnings per Share\n                                                                                 For the three months ended March 31,         For the six months ended March 31,\n                                                                                 2026           2025           Change         2026          2025          Change\n In thousands of CAD except for percentages and shares data\n Earnings before income taxes                                                    617,669        582,616        6.0 %          1,217,461     1,174,362     3.7 %\n Add back:\n Restructuring, acquisition and related integration costs                        40,904         66,412                        67,149        79,776\n Restructuring                                                                   —              44,153                        —             52,453\n Acquisition and related integration costs                                       40,904         22,259                        67,149        27,323\n Adjusted earnings before income taxes                                           658,573        649,028        1.5 %          1,284,610     1,254,138     2.4 %\n Income tax expense                                                              172,949        152,878        13.1 %         330,745       306,044       8.1 %\n Effective tax rate                                                              28.0 %         26.2 %                        27.2 %        26.1 %\n Add back:\n Tax deduction on restructuring, acquisition and related integration costs       2,231          15,469                        9,459         18,421\n Impact on effective tax rate                                                    (1.4 %)        (0.3 %)                       (0.7 %)       (0.2 %)\n Tax deduction on restructuring                                                  —              12,496                        —             14,344\n Impact on effective tax rate                                                    — %            0.2 %                         — %           — %\n Tax deduction on acquisition and related integration costs                      2,231          2,973                         9,459         4,077\n Impact on effective tax rate                                                    (1.4 %)        (0.4 %)                       (0.7 %)       (0.3 %)\n Adjusted income tax expense                                                     175,180        168,347        4.1 %          340,204       324,465       4.9 %\n Adjusted effective tax rate                                                     26.6 %         25.9 %                        26.5 %        25.9 %\n Adjusted net earnings                                                           483,393        480,681        0.6 %          944,406       929,673       1.6 %\n Adjusted net earnings margin                                                    11.6 %         11.9 %                        11.5 %        11.9 %\n Weighted average number of shares outstanding\n Class A subordinate voting shares and Class B shares (multiple voting) (basic)  211,723,757    224,275,024    (5.6 %)        213,861,279   224,737,870   (4.8 %)\n Class A subordinate voting shares and Class B shares (multiple voting)          213,107,674    227,190,028    (6.2 %)        215,402,890   227,662,154   (5.4 %)\n (diluted)\n Adjusted earnings per share (in dollars)\n Basic                                                                           2.28           2.14           6.5 %          4.42          4.14          6.8 %\n Diluted                                                                         2.27           2.12           7.1 %          4.38          4.08          7.4 %\n\nReconciliation between long-term debt and lease liabilities and net debt\n As at March 31,                                                               2026       2025\n In thousands of CAD except for percentages\n Reconciliation between long-term debt and lease liabilities(1) and net debt:\n Long-term debt and lease liabilities(1)                                       4,302,932  4,367,875\n Minus the following items:\n Cash and cash equivalents                                                     708,444    1,099,450\n Short-term investments                                                        7,592      1,806\n Long-term investments                                                         24,526     30,497\n Fair value of foreign currency derivative financial instruments related to    (11,032)   (1,246)\n debt\n Net debt                                                                      3,573,402  3,237,368\n Net debt to capitalization ratio                                              26.3 %     24.1 %\n Return on invested capital                                                    13.1 %     15.4 %\n Days sales outstanding                                                        40         40\n\n (1) As at March 31, 2026, long-term debt and lease liabilities were\n $3,634.4 million ($3,698.1 million as at March 31, 2025) and\n $668.6 million ($669.8 million as at March 31, 2025), respectively,\n including their current portions.\n\nView original\ncontent:https://www.prnewswire.com/news-releases/cgi-reports-second-quarter-fiscal-2026-results-302756507.html\n(https://www.prnewswire.com/news-releases/cgi-reports-second-quarter-fiscal-2026-results-302756507.html)\n\nSOURCE CGI Inc.\n\n\n\nFor more information: Investors: Kevin Linder, Senior Vice-President, Investor Relations, kevin.linder@cgi.com, +1 905-973-8363; Media: Andrée-Anne Pelletier, APR, PRP, Manager, Global Media and Public Relations, an.pelletier@cgi.com, +1 438-468-9118\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn6VGZK7a","title":"CGI reports second quarter Fiscal 2026 results","author":"PR Newswire","ticker":"GIB","created":"2026-04-29T10:30:00.826Z","tickers":["GIB","GIBA"],"exchange":"NYSE","article_body":"CGI reports second quarter Fiscal 2026 results\n\nPR Newswire\n\nMONTRÉAL, April 29, 2026\n\nStock Market Symbols\nGIB.A (TSX)\nGIB (NYSE)\ncgi.com/newsroom\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2625702946&u=http%3A%2F%2Fwww.cgi.com%2Fnewsroom&a=cgi.com%2Fnewsroom)\n\nRevenue up 3.3% with diluted EPS accretion of 10.6%\n\nQ2-F2026 performance highlights\n\n * Revenue of $4.16 billion, up 3.3% year-over-year or 1.6% year-over-year in\nconstant currency(1);\n * Earnings before income taxes of $617.7 million, up 6.0% year-over-year, for a\nmargin(1) of 14.9%;\n * Adjusted earnings before interest and taxes(1,2) of $691.6 million, up 3.9%\nyear-over-year, for a margin(1) of 16.6%;\n * Net earnings of $444.7 million, up 3.5% year-over-year, for a margin(1) of\n10.7%, and diluted EPS of $2.09, up 10.6% year-over-year;\n * Adjusted net earnings(1)(,)(2) of $483.4 million, up 0.6% year-over-year,\nfor a margin(1) of 11.6%, and adjusted diluted EPS(1,2) of $2.27, up 7.1%\nyear-over-year;\n * Cash provided by operating activities of $451.1 million, representing 10.9%\nof revenue(1) and $2.47 billion or 15.1% of revenue on a trailing twelve\nmonth basis;\n * Bookings(1) of $4.31 billion, for a book-to-bill ratio(1) of 103.8% or 108.4%\non a trailing twelve month basis(1); and\n * Backlog(1) of $31.50 billion or 1.9x annual revenue.\nNote: All figures in Canadian dollars. Q2-F2026 MD&A, interim condensed\nconsolidated financial statements and accompanying notes can be found at\ncgi.com/investors\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=3652507050&u=https%3A%2F%2Fwww.cgi.com%2Fen%2Finvestors&a=cgi.com%2Finvestors)\nand have been filed with the Canadian Securities Administrators on SEDAR+ at\nwww.sedarplus.ca\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=57442230&u=https%3A%2F%2Fwww.sedarplus.ca%2Fhome%2F&a=www.sedarplus.ca)\nand the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2400288152&u=https%3A%2F%2Fwww.sec.gov%2F&a=www.sec.gov)\n.\n\nMONTRÉAL, April 29, 2026 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB)\n\nQ2-F2026 results\n\n\"CGI delivered a strong first half of the fiscal year, with industry-leading\nEPS accretion and cash generation,\" said François Boulanger, President and\nChief Executive Officer. \"Even in the context of today's dynamic business\nenvironment, this performance reflects the resilience of our business model,\nthe relationships with our clients, and the outstanding expertise of our\nglobal team. As clients continue to invest in AI, they need a trusted partner\nto address mission-critical environments, modernize complex legacy estates,\nand deliver measurable outcomes. CGI's AI-first strategy—focused on making\nAI real and outcome-driven—positions us well to help clients across every\nindustry and geography.\"\n ______________________________\n (1) Constant currency revenue growth, adjusted earnings before interest and\n taxes, adjusted earnings before interest and taxes margin, adjusted net\n earnings, adjusted net earnings margin and adjusted diluted EPS are non-GAAP\n financial measures or ratios. Earnings before income taxes margin, net\n earnings margin, cash provided by operating activities as a percentage of\n revenue, bookings, book-to-bill ratio, book-to-bill ratio trailing twelve\n months and backlog are key performance measures. See \"Non-GAAP and other key\n performance measures\" section of this press release for more information,\n including quantitative reconciliations to the closest International Financial\n Reporting Standards (IFRS Accounting Standards) measure, as applicable. These\n are not standardized financial measures under IFRS Accounting Standards and\n might not be comparable to similar financial measures disclosed by other\n companies.\n (2) Q2-F2026 adjusted for $38.7 million of restructuring, acquisition and\n related integration costs, net of tax; Q2-F2025 adjusted for $50.9 million of\n restructuring, acquisition and related integration costs, net of tax.\n\nFor the second quarter of Fiscal 2026, the Company reported revenue of\n$4.16 billion, representing a year-over-year growth of 3.3%. When excluding\nforeign currency variations, revenue grew by 1.6% year-over-year.\n\nEarnings before income taxes were $617.7 million, up 6.0% year-over-year, for\na margin of 14.9%, up 40 basis points compared to 14.5% in the same period\nlast year. Recorded in the period were acquisition and related integration\ncosts of $40.9 million.\n\nAdjusted earnings before interest and taxes(1) were $691.6 million, up 3.9%\nyear-over-year, for a margin of 16.6%,  as compared to 16.5% in the same\nperiod last year.\n\nNet earnings were $444.7 million, up 3.5% compared with the same period last\nyear, for a margin of 10.7%, stable when compared to the same period last\nyear. Diluted earnings per share, as a result, were $2.09 compared to $1.89 in\nthe same period last year, representing an increase of 10.6%.\n\nAdjusted net earnings(1) were $483.4 million, up 0.6% compared with the same\nperiod last year, for a margin of 11.6%, down 30 basis points compared to the\nsame period last year. On the same basis, diluted earnings per share increased\nby 7.1% to $2.27 from $2.12 for the same period last year.\n\nCash provided by operating activities was $451.1 million, representing 10.9%\nof revenue. On a trailing twelve month basis, cash provided by operating\nactivities was $2.47 billion, representing 15.1% of revenue.\n\nBookings were $4.31 billion, representing a book-to-bill ratio of 103.8% or\n108.4% on a trailing twelve-month basis. As of March 31, 2026, the Company's\nbacklog reached $31.50 billion, representing 1.9x annual revenue.\n\nAs of March 31, 2026, the number of CGI consultants and professionals\nworldwide stood at approximately 94,000.\n\nDuring the second quarter of Fiscal 2026, the Company invested $104.5 million\nback into its business and invested $396.9 million under its previous and\ncurrent Normal Course Issuer Bid to purchase and cancel Class A subordinate\nvoting shares. In addition, CGI returned $36.2 million back to its\nshareholders through the payment of a dividend.\n\nAs at March 31, 2026, long-term debt and lease liabilities, including both\ntheir current and long-term portions, were $4.30 billion, down from $4.37\nbillion at the same time last year, mainly driven by a foreign exchange impact\nof $68.9 million. As of the same date, net debt(2) stood at $3.57 billion, up\nfrom $3.24 billion at the same time last year. The net debt-to-capitalization\nratio(2) was 26.3% at the end of March 2026, compared to 24.1% at the same\ntime last year.\n\nOn April 28, 2026, the Company's unsecured committed revolving credit facility\nwas increased to $2.50 billion and is now comprised of a three-year tranche\nof $1.00 billion which matures in 2029 and a five-year tranche of\n$1.50 billion which matures in 2031. Both tranches can be further extended.\nThere were no material changes in the terms and conditions, including interest\nrates and banking covenants. The increase will provide additional financial\nagility for future capital requirements.\n _____________________________\n (1) Q2-F2026 adjusted for $38.7 million of restructuring, acquisition and\n related integration costs, net of tax; Q2-F2025 adjusted for $50.9 million of\n restructuring, acquisition and related integration costs, net of tax.\n (2) Net debt and net debt-to-capitalization ratio are non-GAAP financial\n measures or ratios. See \"Non-GAAP and other key performance measures\" section\n of this press release for more information, including quantitative\n reconciliations to the closest IFRS Accounting Standards measure, as\n applicable. These are not standardized financial measures under IFRS\n Accounting Standards and might not be comparable to similar financial measures\n disclosed by other companies.\n\n \n Financial highlights                                                            Q2-F2026  Q2-F2025  Change\n In millions of Canadian dollars except earnings per share and where noted\n Revenue                                                                         4,156.2   4,023.4   132.8\n Year-over-year revenue growth                                                   3.3 %     7.6 %     (430 bps)\n Constant currency revenue growth                                                1.6 %     3.3 %     (170 bps)\n Earnings before income taxes                                                    617.7     582.6     35.1\n Margin %                                                                        14.9 %    14.5 %    40 bps\n Adjusted earnings before interest and taxes(1)                                  691.6     665.7     25.9\n Margin %                                                                        16.6 %    16.5 %    10 bps\n Net earnings                                                                    444.7     429.7     15.0\n Margin %                                                                        10.7 %    10.7 %    0 bps\n Adjusted net earnings(1)                                                        483.4     480.7     2.7\n Margin %                                                                        11.6 %    11.9 %    (30 bps)\n Diluted EPS                                                                     2.09      1.89      0.20\n Adjusted diluted EPS(1)                                                         2.27      2.12      0.15\n Weighted average number of outstanding shares (diluted)                         213.1     227.2     (14.1)\n\nIn millions of shares\n Net finance costs                                                               33.0      16.6      16.4\n Cash and cash equivalents                                                       708.4     1,099.5   (391.1)\n Long-term debt and lease liabilities(2)                                         4,302.9   4,367.9   (65.0)\n Net debt                                                                        3,573.4   3,237.4   336.0\n Net debt to capitalization ratio                                                26.3 %    24.1 %    220 bps\n Cash provided by operating activities                                           451.1     438.2     12.9\n As a percentage of revenue                                                      10.9 %    10.9 %    0 bps\n Days sales outstanding (DSO)(3)                                                 40        40        0\n Purchase for cancellation of Class A subordinate voting shares and related tax  396.9     344.6     52.3\n Return on invested capital (ROIC)(3)                                            13.1 %    15.4 %    (230 bps)\n Bookings                                                                        4,314     4,485     (171)\n Backlog                                                                         31,501    30,987    514\n\nTo access the financial statements – click here\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=167093474&u=https%3A%2F%2Fwww.cgi.com%2Fsites%2Fdefault%2Ffiles%2F2026-04%2Fcgi-q2-2026-fs-2461160-en.pdf&a=click+here)\n\nTo access the MD&A – click here\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2995063623&u=https%3A%2F%2Fwww.cgi.com%2Fsites%2Fdefault%2Ffiles%2F2026-04%2Fcgi-q2-2026-mda-2461160-en.pdf&a=click+here)\n ___________________________________\n (1) Q2-F2026 adjusted for $38.7 million of restructuring, acquisition and\n related integration costs, net of tax; Q2-F2025 adjusted for $50.9 million of\n restructuring, acquisition and related integration costs, net of tax.\n (2) Long-term debt and lease liabilities include both the current and\n long-term portions of the long-term debt and lease liabilities.\n (3) ROIC is a non-GAAP financial measure. DSO is a key performance measure.\n See \"Non-GAAP and other key performance measures\" section of this press\n release for more information, including quantitative reconciliations to the\n closest IFRS Accounting Standards measure, as applicable. These are not\n standardized financial measures under IFRS Accounting Standards and might not\n be comparable to similar financial measures disclosed by other companies.\n\nDeclaration of Dividend\n\nOn April 28, 2026, our Board of Directors approved a quarterly cash dividend\nof $0.17 per share. This dividend is payable to holders of Class A subordinate\nvoting shares and Class B shares (multiple voting) on June 19, 2026, to\nshareholders of record as of the close of business on May 15, 2026. The\ndividend is designated as an 'eligible dividend' for Canadian tax purposes.\n\nQ2-F2026 results conference call\n\nManagement will host a conference call this morning at 9:00 a.m. (EDT) to\ndiscuss results. Participants may access the call by dialing +1-800-717-1738\nConference ID: 74539 or via cgi.com/investors\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=3652507050&u=https%3A%2F%2Fwww.cgi.com%2Fen%2Finvestors&a=cgi.com%2Finvestors)\n. For those unable to participate on the live call, a podcast and copy of the\nslides will be archived for download at cgi.com/investors\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=3652507050&u=https%3A%2F%2Fwww.cgi.com%2Fen%2Finvestors&a=cgi.com%2Finvestors)\n. Interested parties may also access a replay of the call by dialing\n+1-888-660-6264  Passcode: 74539, until May 29, 2026.\n\nAbout CGI\n\nFounded in 1976, CGI is among the largest independent IT and business\nconsulting services firms in the world. With 94,000 consultants and\nprofessionals across the globe, CGI delivers an end-to-end portfolio of\ncapabilities, from strategic IT and business consulting to systems\nintegration, managed IT and business process services and intellectual\nproperty solutions. CGI works with clients through a local relationship model\ncomplemented by a global delivery network that helps clients digitally\ntransform their organizations and accelerate results. CGI Fiscal 2025\nreported revenue is $15.91 billion and CGI shares are listed on the TSX\n(GIB.A) and the NYSE (GIB). Learn more at cgi.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2456095021&u=https%3A%2F%2Fwww.cgi.com%2Fen&a=cgi.com)\n.\n\nForward-looking information and statements\n\nThis press release contains \"forward-looking information\" within the meaning\nof Canadian securities laws and \"forward-looking statements\" within the\nmeaning of the United States Private Securities Litigation Reform Act of 1995\nand other applicable United States safe harbours. All such forward-looking\ninformation and statements are made and disclosed in reliance upon the safe\nharbour provisions of applicable Canadian and United States securities laws.\nForward-looking information and statements include all information and\nstatements regarding CGI's intentions, plans, expectations, beliefs,\nobjectives, future performance, and strategy, as well as any other information\nor statements that relate to future events or circumstances and which do not\ndirectly and exclusively relate to historical facts. Forward-looking\ninformation and statements often but not always use words such as \"believe\",\n\"estimate\", \"expect\", \"intend\", \"anticipate\", \"foresee\", \"plan\", \"predict\",\n\"project\", \"aim\", \"seek\", \"strive\", \"potential\", \"continue\", \"target\", \"may\",\n\"might\", \"could\", \"should\", and similar expressions and variations thereof.\nThese information and statements are based on our perception of historic\ntrends, current conditions and expected future developments, as well as other\nassumptions, both general and specific, that we believe are appropriate in the\ncircumstances. Such information and statements are, however, by their very\nnature, subject to inherent risks and uncertainties, of which many are beyond\nthe control of the Company, and which give rise to the possibility that actual\nresults could differ materially from our expectations expressed in, or implied\nby, such forward-looking information or forward-looking statements. These\nrisks and uncertainties include but are not restricted to: risks related to\nthe market such as the level of business activity of our clients, which is\naffected by economic and political conditions, additional external risks (such\nas pandemics, armed conflict, climate-related issues, inflation, tariffs\nand/or trade wars) and our ability to negotiate new contracts; risks related\nto our industry such as competition and our ability to develop and expand our\nservices to address emerging business demands and technology trends (such as\nartificial intelligence), to penetrate new markets, and to protect our\nintellectual property rights; risks related to our business such as risks\nassociated with our growth strategy, including the integration of new\noperations, financial and operational risks inherent in worldwide operations,\nlegal and operational risks inherent in contracting with government clients,\nforeign exchange risks, income tax laws and other tax programs, the\ntermination, modification, delay or suspension of our contractual agreements,\nour expectations regarding future revenue resulting from bookings and backlog,\nour ability to attract and retain qualified employees, to negotiate favourable\ncontractual terms, to deliver our services and to collect receivables, to\ndisclose, manage and implement environmental, social and governance (ESG)\ninitiatives and standards, and to achieve ESG commitments and targets,\nincluding without limitation, our commitment to reduce our carbon emissions,\nas well as the reputational and financial risks attendant to cybersecurity\nbreaches and other incidents, including through the use of artificial\nintelligence, and financial risks such as liquidity needs and requirements,\nmaintenance of financial ratios, our ability to declare and pay dividends,\ninterest rate fluctuations and changes in creditworthiness and credit ratings;\nas well as other risks identified or incorporated by reference in this press\nrelease, in CGI's annual and quarterly MD&A and in other documents that we\nmake public, including our filings with the Canadian Securities Administrators\n(on SEDAR+ at www.sedarplus.ca\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=57442230&u=https%3A%2F%2Fwww.sedarplus.ca%2Fhome%2F&a=www.sedarplus.ca)\n) and the U.S. Securities and Exchange Commission (on EDGAR at www.sec.gov\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2400288152&u=https%3A%2F%2Fwww.sec.gov%2F&a=www.sec.gov)\n). Unless otherwise stated, the forward-looking information and statements\ncontained in this press release are made as of the date hereof and CGI\ndisclaims any intention or obligation to publicly update or revise any\nforward-looking information or forward-looking statements, whether as a result\nof new information, future events or otherwise, except as required by\napplicable law. While we believe that our assumptions on which these\nforward-looking information and forward-looking statements are based were\nreasonable as at the date of this press release, readers are cautioned not to\nplace undue reliance on these forward-looking information or statements.\nFurthermore, readers are reminded that forward-looking information and\nstatements are presented for the sole purpose of assisting investors and\nothers in understanding our objectives, strategic priorities and business\noutlook as well as our anticipated operating environment. Readers are\ncautioned that such information may not be appropriate for other purposes.\n\nFurther information on the risks that could cause our actual results to differ\nsignificantly from our current expectations may be found in the section titled\nRisk Environment of CGI's MD&A for the three months and six months ended\nMarch 31, 2026 and 2025, which is incorporated by reference in this cautionary\nstatement. We also caution readers that the risks described in the previously\nmentioned section and in other sections of CGI's MD&A for the three months\nand six months ended March 31, 2026 and 2025, and in our other documents and\nfilings are not the only ones that could affect us. Additional risks and\nuncertainties not currently known to us or that we currently deem to be\nimmaterial could also have a material adverse effect on our financial\nposition, financial performance, cash flows, business or reputation.\n\nNon-GAAP and other key performance measures\n\nNon-GAAP financial measures and ratios used in this press release: Constant\ncurrency revenue growth, adjusted earnings before interest and taxes, adjusted\nearnings before interest and taxes margin, adjusted net earnings, adjusted net\nearnings margin, adjusted diluted EPS, net debt, net debt to capitalization\nratio, and return on invested capital (ROIC). CGI reports its financial\nresults in accordance with IFRS Accounting Standards. However, management\nbelieves that these non-GAAP measures provide useful information to investors\nregarding the company's financial condition and results of operations as they\nprovide additional measures of its performance. These measures do not have any\nstandardized meaning prescribed by IFRS Accounting Standards and are therefore\nunlikely to be comparable to similar measures presented by other issuers and\nshould be considered as supplemental in nature and not as a substitute for the\nrelated financial information prepared in accordance with IFRS Accounting\nStandards. Key performance measures used in this press release: cash provided\nby operating activities as a percentage of revenue, bookings, book-to-bill\nratio, book-to-bill ratio trailing twelve months, backlog, days sales\noutstanding (DSO), earnings before income taxes margin, and net earnings\nmargin.\n\nBelow are reconciliations to the most comparable IFRS Accounting Standards\nfinancial measures and ratios, as applicable.\n\nThe descriptions of these non-GAAP measures and ratios and other key\nperformance measures can be found on pages 3, 4, 5 and 6 of our Q2-F2026\nMD&A which is posted on CGI's website, and filed with the Canadian\nSecurities Administrators on SEDAR+ at www.sedarplus.ca\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=57442230&u=https%3A%2F%2Fwww.sedarplus.ca%2Fhome%2F&a=www.sedarplus.ca)\nand the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4675873-1&h=2400288152&u=https%3A%2F%2Fwww.sec.gov%2F&a=www.sec.gov)\n.\n\nQ2-F2026\n\nReconciliation between constant currency revenue growth and growth\n                                             For the three months ended March 31,         For the six months ended March 31,\n                                             2026           2025           %              2026          2025          %\n In thousands of CAD except for percentages\n Total CGI revenue                           4,156,169      4,023,409      3.3 %          8,234,524     7,808,654     5.5 %\n Constant currency revenue growth            1.6 %                                        2.5 %\n Foreign currency impact                     1.7 %                                        3.0 %\n Variation over previous period              3.3 %                                        5.5 %\n\nReconciliation between earnings before income taxes and adjusted earnings\nbefore interest and taxes\n                                                           For the three months ended March 31,                For the six months ended March 31,\n                                                           2026        % of revenue  2025        % of revenue  2026       % of revenue  2025       % of revenue\n In thousands of CAD except for percentages\n Earnings before income taxes                              617,669     14.9 %        582,616     14.5 %        1,217,461  14.8 %        1,174,362  15.0 %\n Plus the following items:\n Restructuring, acquisition and related integration costs  40,904      1.0 %         66,412      1.7 %         67,149     0.8 %         79,776     1.0 %\n Restructuring                                             —           — %           44,153      1.1 %         —          — %           52,453     0.7 %\n Acquisition and related integration costs                 40,904      1.0 %         22,259      0.6 %         67,149     0.8 %         27,323     0.3 %\n Net finance costs                                         33,035      0.8 %         16,631      0.4 %         62,111     0.8 %         23,243     0.3 %\n Adjusted earnings before interest and taxes               691,608     16.6 %        665,659     16.5 %        1,346,721  16.4 %        1,277,381  16.4 %\n\nAdjusted Net Earnings and Earnings per Share\n                                                                                 For the three months ended March 31,         For the six months ended March 31,\n                                                                                 2026           2025           Change         2026          2025          Change\n In thousands of CAD except for percentages and shares data\n Earnings before income taxes                                                    617,669        582,616        6.0 %          1,217,461     1,174,362     3.7 %\n Add back:\n Restructuring, acquisition and related integration costs                        40,904         66,412                        67,149        79,776\n Restructuring                                                                   —              44,153                        —             52,453\n Acquisition and related integration costs                                       40,904         22,259                        67,149        27,323\n Adjusted earnings before income taxes                                           658,573        649,028        1.5 %          1,284,610     1,254,138     2.4 %\n Income tax expense                                                              172,949        152,878        13.1 %         330,745       306,044       8.1 %\n Effective tax rate                                                              28.0 %         26.2 %                        27.2 %        26.1 %\n Add back:\n Tax deduction on restructuring, acquisition and related integration costs       2,231          15,469                        9,459         18,421\n Impact on effective tax rate                                                    (1.4 %)        (0.3 %)                       (0.7 %)       (0.2 %)\n Tax deduction on restructuring                                                  —              12,496                        —             14,344\n Impact on effective tax rate                                                    — %            0.2 %                         — %           — %\n Tax deduction on acquisition and related integration costs                      2,231          2,973                         9,459         4,077\n Impact on effective tax rate                                                    (1.4 %)        (0.4 %)                       (0.7 %)       (0.3 %)\n Adjusted income tax expense                                                     175,180        168,347        4.1 %          340,204       324,465       4.9 %\n Adjusted effective tax rate                                                     26.6 %         25.9 %                        26.5 %        25.9 %\n Adjusted net earnings                                                           483,393        480,681        0.6 %          944,406       929,673       1.6 %\n Adjusted net earnings margin                                                    11.6 %         11.9 %                        11.5 %        11.9 %\n Weighted average number of shares outstanding\n Class A subordinate voting shares and Class B shares (multiple voting) (basic)  211,723,757    224,275,024    (5.6 %)        213,861,279   224,737,870   (4.8 %)\n Class A subordinate voting shares and Class B shares (multiple voting)          213,107,674    227,190,028    (6.2 %)        215,402,890   227,662,154   (5.4 %)\n (diluted)\n Adjusted earnings per share (in dollars)\n Basic                                                                           2.28           2.14           6.5 %          4.42          4.14          6.8 %\n Diluted                                                                         2.27           2.12           7.1 %          4.38          4.08          7.4 %\n\nReconciliation between long-term debt and lease liabilities and net debt\n As at March 31,                                                               2026       2025\n In thousands of CAD except for percentages\n Reconciliation between long-term debt and lease liabilities(1) and net debt:\n Long-term debt and lease liabilities(1)                                       4,302,932  4,367,875\n Minus the following items:\n Cash and cash equivalents                                                     708,444    1,099,450\n Short-term investments                                                        7,592      1,806\n Long-term investments                                                         24,526     30,497\n Fair value of foreign currency derivative financial instruments related to    (11,032)   (1,246)\n debt\n Net debt                                                                      3,573,402  3,237,368\n Net debt to capitalization ratio                                              26.3 %     24.1 %\n Return on invested capital                                                    13.1 %     15.4 %\n Days sales outstanding                                                        40         40\n\n (1) As at March 31, 2026, long-term debt and lease liabilities were\n $3,634.4 million ($3,698.1 million as at March 31, 2025) and\n $668.6 million ($669.8 million as at March 31, 2025), respectively,\n including their current portions.\n\nView original\ncontent:https://www.prnewswire.com/news-releases/cgi-reports-second-quarter-fiscal-2026-results-302756507.html\n(https://www.prnewswire.com/news-releases/cgi-reports-second-quarter-fiscal-2026-results-302756507.html)\n\nSOURCE CGI Inc.\n\n\n\nFor more information: Investors: Kevin Linder, Senior Vice-President, Investor Relations, kevin.linder@cgi.com, +1 905-973-8363; Media: Andrée-Anne Pelletier, APR, PRP, Manager, Global Media and Public Relations, an.pelletier@cgi.com, +1 438-468-9118\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-04-29T10:30:00.926282198Z","server_sent_at_ms":1777458600926},"received_at":"2026-04-29T10:30:00.978Z","source_url":null},"analysis":null,"durationMs":null,"modelName":null}}