Company delivers strong year-over-year EBITDA growth and EBITDA margin expansion in the fourth quarter

MISSISSAUGA, ON, Feb. 24, 2026 /CNW/ – Cargojet Inc. (“Cargojet” or the “Corporation”) (TSX: CJT) today announced financial results for the fourth quarter and year ended December 31, 2025.

“Our disciplined execution and customer-first operating model delivered fourth quarter EBITDA growth of $3.3 million and margin expansion of 210 basis points year-over-year, supported by nearly 17% domestic revenue growth. Through one of the most challenging winter operating environments in recent years, our team achieved 99% on-time performance – a result that reflects the strength of the best team in the industry. Their professionalism, precision, and relentless execution drive our best-in-class reliability,” said Pauline Dhillon, Chief Executive Officer. “We are sincerely grateful to our customers for their continued trust. Performance earns partnership, and we work every day to strengthen that trust. Our priorities remain clear: profitable growth, maximum utilization of our fixed assets and infrastructure, rigorous cost discipline, and an uncompromising focus on safety. This operational excellence and financial discipline are what protect and grow the shareholder value that investors place their trust in us to deliver. I thank our Cargojet team members for setting the standard for this industry – and raising it”.

For the quarter ended December 31, 2025:

• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $95.0 million, an increase of $3.3 million or 3.6% compared to the same quarter of the previous year primarily driven by lower direct and SG&A costs excluding depreciation and share-based compensation, partially offset by lower revenue excluding amortization of stock warrant contract assets.
• Adjusted EBITDA margin of 33.4%, up 210 basis points compared to the same quarter last year, primarily driven by lower direct and SG&A costs excluding depreciation and share-based compensation, partially offset by lower revenue excluding amortization of stock warrant contract assets.
• Total revenues were $284.7 million, a decrease of $8.5 million or 2.9% compared to the same period of the previous year, supported by a $17.4 million or 16.9% year-over-year increase in domestic revenue, more than offset by declines in ACMI and Charter revenues driven primarily by macroeconomic conditions.
• Free Cash Flow was an outflow of $9.8 million, an increase of $23.5 million compared to an outflow of $33.3 million in the same quarter last year driven by a decrease in proceeds from disposal of property, plant and equipment and assets held for sale, net of purchases, of $93.0 million, partially offset by a decrease in cash flow from operations of $69.5 million primarily due to changes in non-cash working capital.
• Net earnings of $26.6 million, a decrease of $44.6 million or 62.6% compared to net earnings of $71.2 million for the fourth quarter of 2024 primarily driven by an increase of $37.7 million in net finance costs and other gains and losses.

About Cargojet

Cargojet is Canada’s leading provider of time sensitive premium air cargo services to all major cities across North America, providing Dedicated, ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own cargo fleet of 41 aircraft.