Cargojet reports Q2 profit growth and declares quarterly dividend

Cargojet Inc. reported strong financial results for the second quarter ended June 30, 2026, with total revenue reaching $275.8 million, a 15.8% increase compared to the same period last year. The company transitioned from a net loss of $3.2 million in Q2 2025 to net earnings of $7.0 million in 2026. Adjusted EBITDA rose 8.9% to $87.3 million.

Following these results, the company’s Board of Directors declared a cash dividend of $0.385 per common and variable voting share for the period from July 1 to September 30, 2026. Shareholders of record as of September 18, 2026, will receive payment on or before October 5, 2026.

In response to the company's performance, several financial institutions have raised their price targets for Cargojet stock. Acumen Capital lifted its target to C$120.00, while TD, Scotiabank, Desjardins, and BMO Capital Markets also issued updated price objectives, maintaining various buy or outperform ratings.