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CACI
🇺🇸 NYSE:CACI
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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.

Total Revenue
$1.94B
Previous year: $1.74B
+11.1%
EPS
$5.74
Previous year: $4.92
+16.7%
Gross Profit
$611M
Previous year: $155M
+294.4%
Cash and Equivalents
$159M
Previous year: $107M
+49.1%
Free Cash Flow
$102M
Total Assets
$6.8B
Previous year: $6.65B
+2.3%

CACI

CACI

CACI Revenue by Segment

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.
  • Fiscal year 2024 free cash flow guidance assumes a $40 million tax refund associated with prior year tax method changes.
  • No other negative factors were explicitly mentioned in the provided guidance summary.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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