CACI Q4 2023 Earnings Report
Key Takeaways
CACI International Inc. reported a 3.7% increase in revenues for the fourth quarter of fiscal year 2023, driven by organic growth. The company secured $2.3 billion in contract awards, with a substantial portion for new business. Diluted earnings per share increased by 19.1% year-over-year.
Revenues increased by 3.7% year-over-year, driven by organic growth.
Income from operations increased by 24.2% due to higher revenues and gross profit.
Contract awards totaled $2.3 billion, with nearly 70% for new business.
Total backlog as of June 30, 2023, was $25.8 billion, an 11% increase year-over-year.
CACI
CACI
CACI Revenue by Segment
Forward Guidance
CACI provided fiscal year 2024 guidance, anticipating revenues between $7.0 billion and $7.2 billion, adjusted diluted earnings per share between $19.13 and $20.22, and free cash flow of at least $400 million.
Positive Outlook
- Revenues between $7.0 billion and $7.2 billion.
- Adjusted net income between $440 million and $465 million.
- Adjusted diluted earnings per share between $19.13 and $20.22.
- Diluted weighted average shares of 23.0 million.
- Free cash flow of at least $400 million.
Challenges Ahead
- Assumes approximately $75 million in tax payments related to Section 174 of the Tax Cuts and Jobs Act of 2017.
- Estimates exclude potential impacts from future acquisitions or other strategic realignments.
- Guidance is subject to various risks and uncertainties.
- Actual results may differ materially from anticipated results.
- Guidance represents views as of August 9, 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income