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Mar 31, 2024
CACI Q3 2024 Earnings Report
CACI's Q3 2024 performance showcased double-digit organic growth, margin expansion, significant contract awards, and a record backlog, leading to raised fiscal year 2024 revenue and earnings guidance.
Key Takeaways
CACI International Inc. reported strong third-quarter results with an 11% increase in revenues to $1.9 billion and a net income of $115.4 million. The company's performance was driven by organic growth, margin expansion, and significant contract awards, leading to raised fiscal year 2024 revenue and earnings guidance.
Revenues reached $1.9 billion, marking an 11% year-over-year increase.
Net income was reported at $115.4 million, with diluted EPS of $5.13, reflecting an 18% year-over-year growth.
Contract awards totaled $3.5 billion, resulting in a book-to-bill ratio of 1.8x.
EBITDA margin expanded to 11.3%, a 200 basis point increase sequentially.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
CACI raised its fiscal year 2024 guidance, projecting revenues between $7.5 billion and $7.6 billion, adjusted net income between $455 million and $465 million, adjusted diluted earnings per share between $20.13 and $20.58, and free cash flow of at least $420 million.
Positive Outlook
- Revenue guidance increased to $7.5 - $7.6 billion from $7.3 - $7.5 billion.
- Adjusted net income guidance maintained at $455 - $465 million.
- Adjusted diluted earnings per share guidance updated to $20.13 - $20.58 from $19.91 - $20.58.
- Free cash flow guidance remains at least $420 million.
- Diluted weighted average shares remain at 22.6 million.
Challenges Ahead
- Guidance reflects approximately $200 million of higher-than-expected material purchases by customers.
- Guidance reflects lower diluted weighted average shares due to share repurchases earlier in the year.
- Fiscal year 2024 free cash flow guidance assumes approximately $75 million in tax payments related to Section 174 of the Tax Cuts and Jobs Act of 2017.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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