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Jun 30, 2022
CACI Q4 2022 Earnings Report
CACI's Q4 2022 earnings decreased compared to the previous year but revenue increased.
Key Takeaways
CACI International Inc. reported a 5% increase in revenue for the fourth quarter of fiscal year 2022, driven by acquisitions and organic growth. However, net income and diluted earnings per share decreased due to a lower effective tax rate in the year-ago quarter. The company issued fiscal year 2023 guidance, expecting continued growth, margin expansion, and healthy cash flow.
Revenues increased by 5% year-over-year, driven by acquisitions and organic growth.
Contract awards in Q4 FY22 totaled $1.5 billion, with approximately 70% for new business.
Diluted earnings per share decreased due to a lower effective tax rate in the year-ago quarter.
The company expects continued growth, margin expansion, and healthy cash flow in fiscal year 2023.
CACI
CACI
CACI Revenue by Segment
Revenue by Segment
Department of Defense Revenue
CapyFin.comFederal Civilian Agencies Revenue
CapyFin.comCommercial and Other Revenue
CapyFin.comCost-plus-fee Revenue
CapyFin.comFixed-price Revenue
CapyFin.comTime-and-materials Revenue
CapyFin.comPrime Contractor Revenue
CapyFin.comSubcontractor Revenue
CapyFin.comExpertise Revenue
CapyFin.comTechnology Revenue
CapyFin.com Forward Guidance
CACI issued fiscal year 2023 guidance, expecting continued growth, margin expansion, and healthy cash flow generation.
Positive Outlook
- Revenues are expected to be between $6,475 million and $6,675 million.
- Adjusted net income is projected to be between $420 million and $440 million.
- Adjusted diluted earnings per share are expected to be between $17.65 and $18.49.
- Diluted weighted average shares are anticipated to be 23.8 million.
- Free cash flow is expected to be at least $415 million.
Challenges Ahead
- Guidance assumes Section 174 of the Tax Cuts and Jobs Act of 2017 will be deferred, modified, or repealed.
- If not deferred, modified, or repealed, fiscal year 2023 Free cash flow would be reduced by approximately $95 million.
- Decrease in net income compared to the same quarter of the previous year.
- Decrease in adjusted net income compared to the same quarter of the previous year.
- Decrease in diluted EPS compared to the same quarter of the previous year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income