Loading...
•
Mar 31, 2021
CACI Q3 2021 Earnings Report
CACI reported solid organic growth, strong profitability, and robust cash flow.
Key Takeaways
CACI International Inc. reported a 5.9% increase in revenue to $1.6 billion and a 49.4% increase in net income to $120.3 million for its fiscal 2021 third quarter. Contract awards totaled $1.6 billion. The company updated its fiscal year 2021 guidance, lowering revenue expectations and raising net income and diluted earnings per share guidance.
Delivered solid organic growth, strong profitability, and robust cash flow.
Executed long-term strategy of offering differentiated and distinctive technology.
Focused on customers’ critical national security and IT modernization priorities.
Contract awards in Q3 FY21 totaled $1.6 billion, approximately 60% for new business.
Revenue by Segment
Forward Guidance
CACI updated its fiscal year 2021 guidance, lowering revenue expectations due to greater than expected impact from COVID-19 and raising net income and diluted earnings per share guidance to reflect strong operating performance, lower program and indirect expenses, and certain tax benefits.
Positive Outlook
- Effective tax rate of between 8% and 9% driven by higher R&D tax credits.
- Material tax benefit expected to realize in fiscal fourth quarter.
- Reduced share count driven by accelerated share repurchase.
- Net income between $450 million - $460 million.
- Diluted earnings per share between $18.00 - $18.40.
Challenges Ahead
- Greater than expected impact from COVID-19.
- Travel restrictions.
- Reduction in government processing of deployment orders.
- Delays in task orders.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...