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CMB CEO: FY25 outperformed but federal contracting pause and macro risks may create bumpy year ahead
Summary
Chuck Garrett, CEO of CMB, reported FY25 results that beat budget and last year—s performance but warned that the federal shutdown, compressed margins, workforce churn in government contracting, rising consumer delinquencies, and AI-driven change could challenge future performance.
Chuck Garrett, chief executive officer of CMB, briefed the council on the company's FY25 financial results and the broader economic outlook. Garrett said CMB outperformed budget for FY25 on both top line and bottom line metrics and expected higher dividends than originally budgeted for the year.
"We beat budget on the bottom line," Garrett told the…
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