(Mississauga) Cargojet posted a loss in its latest quarter, after the company posted a profit a year earlier, and also saw a drop in revenue.
The Mississauga, Ont.-based company, which provides air cargo and aircraft rental services, says it posted a net loss of $34.9 million, or $2.04 per diluted share, for the quarter ended Dec. 31. .
The loss compares to a profit of 2.6 million or 15 cents per share in the final three months of 2022.
Revenue for the quarter, excluding warrant amortization, was 254.7 million, compared to 271.0 million in the same quarter a year earlier.
On an adjusted basis, Cargojet says it posted a loss of 14 cents per share in its most recent quarter, compared to adjusted earnings of 89 cents per share a year earlier.
Cargojet operates a fleet of 41 cargo planes.
Company in this dispatch: (TSX: CJT)