CACI Reports Results for Its Fiscal 2024 Fourth Quarter and Full Year and Issues Fiscal Year 2025 Guidance

Business Wire08-08

Annual revenues of $7.7 billion, up 14% YoY Annual net income of $419.9 million; Diluted EPS of $18.60, up 13% YoY Annual adjusted net income of $475.1 million; Adjusted diluted EPS of $21.05, up 12% ...

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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCACI Reports Results for Its Fiscal 2024 Fourth Quarter and Full Year and Issues Fiscal Year 2025 Guidance\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-08 04:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/caci-reports-results-fiscal-2024-201500432.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Annual revenues of $7.7 billion, up 14% YoY\nAnnual net income of $419.9 million; Diluted EPS of $18.60, up 13% YoY\nAnnual adjusted net income of $475.1 million; Adjusted diluted EPS of $21.05, up 12% ...</p>\n\n<a href=\"https://finance.yahoo.com/news/caci-reports-results-fiscal-2024-201500432.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RF","symbol_name":"地区金融","start_time":0,"source_url":"https://finance.yahoo.com/news/caci-reports-results-fiscal-2024-201500432.html","article_id":"2457687796","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/RU0vQuc6Sdm5ezsWDXuYNg--~B/aD0yODQ7dz00ODA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/business-wire.com/f4a22f9130775c6221d68f830c9530e8"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2457687796","pubTimestamp":1723061700,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Annual net income of $419.9 million; Diluted EPS of $18.60, up 13% YoY. Annual adjusted net income of $475.1 million; Adjusted diluted EPS of $21.05, up 12% YoY. Annual EBITDA of $798.0 million and EBITDA margin of 10.4%. Company committed to continued healthy cash flow in Fiscal Year 2025, driven by revenue growth, strong margins, and efficient capital management. \"CACI’s exceptional fiscal year 2024 financial performance is the result of the relentless execution of our strategy. Our results were strong across the board, including achieving organic growth in the mid-teens, and delivering on our margin and cash flow expectations,\" said John Mengucci, CACI President and Chief Executive Officer. \"With more than $14 billion of awards, we continue to demonstrate our ability to win in the marketplace with differentiated capabilities that address our customers’ most critical national security needs. Our industry-leading business development efforts drove a 22% increase in our backlog, boosti","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"RF":"地区金融","BK4585":"ETF&股票定投概念","LU1169590202.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"I\" (USD) ACC","BK4139":"生物科技","BK4588":"碎股","LU1169589451.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"A\" (USD) ACC","BK4123":"调查和咨询服务","BK4211":"区域性银行","PNT":"POINT BIOPHARMA GLOBAL INC","DSOC":"Innovator Double Stacker ETF","CACI":"CACI国际"},"translate_title":"CACI报告2024财年第四季度和全年业绩并发布2025财年指引","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CACI":1,"DSOC":1,"PNT":1,"RF":1},"content_text":"Annual revenues of $7.7 billion, up 14% YoY\nAnnual net income of $419.9 million; Diluted EPS of $18.60, up 13% YoY\nAnnual adjusted net income of $475.1 million; Adjusted diluted EPS of $21.05, up 12% YoY\nAnnual EBITDA of $798.0 million and EBITDA margin of 10.4%\nAnnual contract awards of $14.2 billion and book-to-bill of 1.9x\nCompany committed to continued healthy cash flow in Fiscal Year 2025, driven by revenue growth, strong margins, and efficient capital management\nRESTON, Va., August 07, 2024--(BUSINESS WIRE)--CACI International Inc (NYSE: CACI), a leading provider of expertise and technology to government customers, announced results today for its fiscal fourth quarter and full year ended June 30, 2024, and issued guidance for fiscal year 2025.\n\"CACI’s exceptional fiscal year 2024 financial performance is the result of the relentless execution of our strategy. Our results were strong across the board, including achieving organic growth in the mid-teens, and delivering on our margin and cash flow expectations,\" said John Mengucci, CACI President and Chief Executive Officer. \"With more than $14 billion of awards, we continue to demonstrate our ability to win in the marketplace with differentiated capabilities that address our customers’ most critical national security needs. Our industry-leading business development efforts drove a 22% increase in our backlog, boosting it to $32 billion. Overall, our FY24 performance expands our ability to deliver value for our customers and shareholders throughout fiscal year 2025 and beyond.\"\nFourth Quarter Results\n\n\n\n\nThree Months Ended\n\n\n(in millions, except earnings per share and DSO)\n6/30/2024\n6/30/2023\n% Change\n\n\nRevenues\n$\n2,038.3\n\n$\n1,703.1\n\n19.7\n%\n\n\nIncome from operations\n$\n197.8\n\n$\n148.8\n\n32.9\n%\n\n\nNet income\n$\n134.7\n\n$\n107.8\n\n25.0\n%\n\n\nAdjusted net income, a non-GAAP measure1\n$\n148.7\n\n$\n121.9\n\n22.0\n%\n\n\nDiluted earnings per share\n$\n5.98\n\n$\n4.68\n\n27.8\n%\n\n\nAdjusted diluted earnings per share, a non-GAAP measure1\n$\n6.61\n\n$\n5.30\n\n24.7\n%\n\n\nEarnings before interest, taxes, depreciation and amortization (EBITDA), a non-GAAP measure1\n$\n234.9\n\n$\n185.7\n\n26.5\n%\n\n\nNet cash provided by operating activities excluding MARPA1\n$\n157.2\n\n$\n124.8\n\n26.0\n%\n\n\nFree cash flow, a non-GAAP measure1\n$\n134.6\n\n$\n101.9\n\n32.1\n%\n\n\nDays sales outstanding (DSO)2\n\n46\n\n\n48\n\n\n\n\n\n\n\n\n(1)\n\nThis non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.\n\n\n(2)\n\nThe DSO calculations for three months ended June 30, 2024 and 2023 exclude the impact of the Company's Master Accounts Receivable Purchase Agreement (MARPA), which was a reduction of 6 days and 7 days, respectively.\n\n\n\nRevenues in the fourth quarter of fiscal year 2024 increased 19.7 percent year-over-year, driven by 18.5 percent organic growth. The increase in income from operations was driven by higher revenues and gross profit. Growth in diluted earnings per share and adjusted diluted earnings per share was driven by higher income from operations and share repurchases earlier in the year, partially offset by a higher tax provision. The increase in cash from operations, excluding MARPA, was driven primarily by higher net income and strong working capital management.\nFourth Quarter Contract Awards\nContract awards in the fourth quarter totaled $5.4 billion, with nearly 70 percent for new business to CACI. Awards exclude ceiling values of multi-award, indefinite delivery, indefinite quantity (IDIQ) contracts. Some notable awards during the quarter were:\n\nCACI was awarded an eight-year contract worth up to $2 billion to provide digital solutions technology to standardize and centralize 11 of NASA’s IT services under the NASA Consolidated Applications and Platform Services (NCAPS) award. NCAPS expands CACI’s current relationship with NASA and will bring enterprise-wide automation across more than 200 systems from various NASA locations into a single program, enhancing efficiency and boosting productivity.\nCACI was awarded a ten-year expertise contract valued at up to $450 million to support the Joint Navigation Warfare Center (JNWC), an operational center of U.S. Space Forces – Space and the Department of Defense’s center of excellence for navigation warfare (NAVWAR). CACI will provide 24/7 operations support, joint and operational planning, adversary positioning, navigation, and timing (PNT) capability and order of battle assessment, and other tasks that inform and enhance joint force, DoD combatant commander, interagency, and allied NAVWAR requirements.\nCACI was awarded a five-year technology task order valued at up to $416 million to design, produce, and deliver complex, customized radio frequency (RF) systems for the U.S. Army’s signals intelligence (SIGINT) missions. As part of the Exploit, Enhance, Enable and Influence-TENCAP (E3I-T) work, CACI will begin deploying new, upgraded hardware systems this year.\nCACI was awarded a five-year task order valued at up to $414 million to provide expertise and unmanned systems support to the U.S. Army Combat Capabilities Development Command (DEVCOM) – Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance, and Reconnaissance (C5ISR) Center to enable warfighter rapid response to current and emerging threats.\nCACI was awarded a five-year task order valued at up to $319 million to provide intelligence systems expertise to the U.S. Army, Communications-Electronics Command (CECOM), Software Engineering Center (SEC), Electronic Warfare & Sensors Directorate (IEWSD), Army Reprogramming Analysis Team-Program Office (ARAT-PO). Through the ARAT task order, CACI will help the Army, other services, and foreign military partners establish a state-of-the-art, on-demand environment that provides the most current threat data possible to support multi-domain operations.\nCACI was awarded a six-year expertise task order valued at up to $239 million to provide intelligence analysis and operations to the U.S. Army commands in Europe and Africa. Under the Theater Military Intelligence Support Services (TMISS) task order, CACI will deliver comprehensive all-source and single-discipline intelligence expertise tailored to the U.S. European Command (EUCOM) and U.S. Africa Command (AFRICOM) AORs during peacetime activity as well as crisis and contingency.\nCACI was awarded a firm-fixed-price contract worth approximately $100 million for the Terrestrial Layer System Brigade Combat Team Manpack (TLS BCT Manpack) by the U.S. Army. CACI will deliver a tailorable, modular, low size, weight, and power (SWaP) solution that integrates and delivers significantly improved signals intelligence and electronic warfare capabilities to soldiers at the tactical edge.\n\nTotal backlog as of June 30, 2024 was $31.6 billion compared with $25.8 billion a year ago, an increase of 22 percent. Funded backlog as of June 30, 2024 was $3.8 billion compared with $3.7 billion a year ago, an increase of 3 percent.\nAdditional Highlights\n\nCACI’s optical communications technology was used by NASA to successfully send data from its Psyche spacecraft to the Jet Propulsion Laboratory in Southern California, a distance of more than 200 million kilometers, as part of the Deep Space Optical Communications (DSOC) experiment. Additionally, NASA will continue to leverage CACI’s optical technology for DSOC as the range is extended.\nCACI hired Retired Lieutenant General Bob Marion as a Senior Vice President in the new role of corporate strategic advisor. In this new position, Marion will provide insight on critical industry and acquisition issues as an active member of the team charged with leading efforts to augment CACI’s growing national security business.\nCACI Chairman of the Board of Directors, Michael \"Mike\" A. Daniels, received the Virginia Chamber of Commerce Lifetime Achievement Award honoring his career as a technology leader and for promoting a thriving economy within the Commonwealth, supported by a world-class workforce.\n\nFiscal Year Results\n\n\n\n\nTwelve Months Ended\n\n\n(in millions, except earnings per share)\n6/30/2024\n\n6/30/2023\n\n% Change\n\n\nRevenues\n$\n7,659.8\n\n$\n6,702.5\n\n14.3\n%\n\n\nIncome from operations\n$\n649.7\n\n$\n567.5\n\n14.5\n%\n\n\nNet income\n$\n419.9\n\n$\n384.7\n\n9.1\n%\n\n\nAdjusted net income, a non-GAAP measure1\n$\n475.1\n\n$\n440.9\n\n7.7\n%\n\n\nDiluted earnings per share\n$\n18.60\n\n$\n16.43\n\n13.2\n%\n\n\nAdjusted diluted earnings per share, a non-GAAP measure1\n$\n21.05\n\n$\n18.83\n\n11.8\n%\n\n\nEarnings before interest, taxes, depreciation and amortization (EBITDA), a non-GAAP measure1\n$\n798.0\n\n$\n716.0\n\n11.5\n%\n\n\nNet cash provided by operating activities excluding MARPA1\n$\n447.3\n\n$\n345.8\n\n29.3\n%\n\n\nFree cash flow, a non-GAAP measure1\n$\n383.6\n\n$\n282.1\n\n36.0\n%\n\n\n\n\n\n\n(1)\n\nThis non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.\n\n\n\nRevenues in fiscal year 2024 increased 14.3 percent year-over-year, driven by 13.7 percent organic growth. The increase in income from operations was driven by higher revenues and gross profit. Growth in diluted earnings per share and adjusted diluted earnings per share was driven by higher income from operations and share repurchases, partially offset by higher interest expense and a higher tax provision. The increase in cash from operations, excluding MARPA, was driven by higher net income, lower tax payments including those related to our method change enacted in fiscal year 2021 and Section 174 of the Tax Cuts and Jobs Act of 2017, and strong working capital management.\nFiscal Year 2025 Guidance\nThe table below summarizes our fiscal year 2025 guidance and represents our views as of August 7, 2024.\n\n\n\n(in millions, except earnings per share)\nFiscal Year 2025 Guidance\n\n\nRevenues\n$7,900 - $8,100\n\n\nAdjusted net income, a non-GAAP measure1\n$505 - $525\n\n\nAdjusted diluted earnings per share, a non-GAAP measure1\n$22.44 - $23.33\n\n\nDiluted weighted average shares\n22.5\n\n\nFree cash flow, a non-GAAP measure2\nat least $425\n\n\n\n\n\n\n(1)\n\nAdjusted net income and adjusted diluted earnings per share are defined as GAAP net income and GAAP diluted EPS, respectively, excluding intangible amortization expense and the related tax impact. This non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.\n\n\n(2)\n\nFree cash flow is defined as net cash provided by operating activities excluding MARPA, less payments for capital expenditures (capex). This non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. Fiscal year 2025 free cash flow guidance assumes approximately $55 million in tax payments related to Section 174 of the Tax Cuts and Jobs Act of 2017 and an approximately $40 million cash tax refund related to our method change enacted in fiscal year 2021. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.\n\n\n\nConference Call Information\nWe have scheduled a conference call for 8:00 AM Eastern Time Thursday, August 8, 2024 during which members of our senior management will be making a brief presentation focusing on fourth quarter and full year results and operating trends, followed by a question-and-answer session. You can listen to the webcast and view the accompanying exhibits on CACI’s investor relations website at http://investor.caci.com/events/default.aspx at the scheduled time. A replay of the call will also be available on CACI’s investor relations website at http://investor.caci.com/.\nAbout CACI\nAt CACI International Inc (NYSE: CACI), our 24,000 talented and dynamic employees are ever vigilant in delivering distinctive expertise and technology to meet our customers’ greatest challenges in national security. We are a company of good character, relentless innovation, and long-standing excellence. Our culture drives our success and earns us recognition as a Fortune World's Most Admired Company. CACI is a member of the Fortune 1000 Largest Companies, the Russell 1000 Index, and the S&P MidCap 400 Index. For more information, visit us at www.caci.com.\nThere are statements made herein that do not address historical facts and, therefore, could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to risk factors that could cause actual results to be materially different from anticipated results. These risk factors include, but are not limited to, the following: our reliance on U.S. government contracts, which includes general risk around the government contract procurement process (such as bid protest, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; significant delays or reductions in appropriations for our programs and broader changes in U.S. government funding and spending patterns; legislation that amends or changes discretionary spending levels or budget priorities, such as for homeland security or to address global pandemics like COVID-19; legal, regulatory, and political change from successive presidential administrations that could result in economic uncertainty; changes in U.S. federal agencies, current agreements with other nations, foreign events, or any other events which may affect the global economy, including the impact of global pandemics like COVID-19; the results of government audits and reviews conducted by the Defense Contract Audit Agency, the Defense Contract Management Agency, or other governmental entities with cognizant oversight; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); failure to achieve contract awards in connection with re-competes for present business and/or competition for new business; regional and national economic conditions in the United States and globally, including but not limited to: terrorist activities or war, changes in interest rates, currency fluctuations, significant fluctuations in the equity markets, and market speculation regarding our continued independence; our ability to meet contractual performance obligations, including technologically complex obligations dependent on factors not wholly within our control; limited access to certain facilities required for us to perform our work, including during a global pandemic like COVID-19; changes in tax law, the interpretation of associated rules and regulations, or any other events impacting our effective tax rate; changes in technology; the potential impact of the announcement or consummation of a proposed transaction and our ability to successfully integrate the operations of our recent and any future acquisitions; our ability to achieve the objectives of near term or long-term business plans; the effects of health epidemics, pandemics and similar outbreaks may have material adverse effects on our business, financial position, results of operations and/or cash flows; and other risks described in our Securities and Exchange Commission filings.\n\n\n\nCACI International IncConsolidated Statements of Operations (Unaudited)(in thousands, except per share data)\n\n\n\n\n\n \n\n\n\nThree Months Ended\n\nTwelve Months Ended\n\n\n\n6/30/2024\n\n6/30/2023\n\n% Change\n\n6/30/2024\n\n6/30/2023\n\n% Change\n\n\nRevenues\n$\n2,038,295\n\n$\n1,703,101\n\n19.7\n%\n\n$\n7,659,832\n\n$\n6,702,546\n\n14.3\n%\n\n\nCosts of revenues:\n\n\n\n\n\n\n\n\n\n\n\n\n\nDirect costs\n\n1,328,468\n\n\n1,108,861\n\n19.8\n%\n\n\n5,147,540\n\n\n4,402,728\n\n16.9\n%\n\n\nIndirect costs and selling expenses\n\n476,317\n\n\n410,135\n\n16.1\n%\n\n\n1,720,439\n\n\n1,590,754\n\n8.2\n%\n\n\nDepreciation and amortization\n\n35,760\n\n\n35,309\n\n1.3\n%\n\n\n142,145\n\n\n141,564\n\n0.4\n%\n\n\nTotal costs of revenues\n\n1,840,545\n\n\n1,554,305\n\n18.4\n%\n\n\n7,010,124\n\n\n6,135,046\n\n14.3\n%\n\n\nIncome from operations\n\n197,750\n\n\n148,796\n\n32.9\n%\n\n\n649,708\n\n\n567,500\n\n14.5\n%\n\n\nInterest expense and other, net\n\n24,301\n\n\n24,156\n\n0.6\n%\n\n\n105,059\n\n\n83,861\n\n25.3\n%\n\n\nIncome before income taxes\n\n173,449\n\n\n124,640\n\n39.2\n%\n\n\n544,649\n\n\n483,639\n\n12.6\n%\n\n\nIncome taxes\n\n38,792\n\n\n16,873\n\n129.9\n%\n\n\n124,725\n\n\n98,904\n\n26.1\n%\n\n\nNet income\n$\n134,657\n\n$\n107,767\n\n25.0\n%\n\n$\n419,924\n\n$\n384,735\n\n9.1\n%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBasic earnings per share\n$\n6.04\n\n$\n4.73\n\n27.7\n%\n\n$\n18.76\n\n$\n16.59\n\n13.1\n%\n\n\nDiluted earnings per share\n$\n5.98\n\n$\n4.68\n\n27.8\n%\n\n$\n18.60\n\n$\n16.43\n\n13.2\n%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWeighted average shares used in per share computations:\n\n\n\n\n\n\n\n\n\n\n\n\n\nWeighted-average basic shares outstanding\n\n22,300\n\n\n22,795\n\n-2.2\n%\n\n\n22,381\n\n\n23,196\n\n-3.5\n%\n\n\nWeighted-average diluted shares outstanding\n\n22,510\n\n\n23,012\n\n-2.2\n%\n\n\n22,573\n\n\n23,413\n\n-3.6\n%\n\n\n\n\n\n\nCACI International IncConsolidated Balance Sheets (Unaudited)(in thousands)\n\n\n\n\n\n \n\n\n\n6/30/2024\n\n6/30/2023\n\n\nASSETS\n\n\n\n\n\nCurrent assets:\n\n\n\n\n\nCash and cash equivalents\n$\n133,961\n\n$\n115,776\n\n\nAccounts receivable, net\n\n1,031,311\n\n\n894,946\n\n\nPrepaid expenses and other current assets\n\n209,257\n\n\n199,315\n\n\nTotal current assets\n\n1,374,529\n\n\n1,210,037\n\n\n\n\n\n\n\n\nGoodwill\n\n4,154,844\n\n\n4,084,705\n\n\nIntangible assets, net\n\n474,354\n\n\n507,835\n\n\nProperty, plant and equipment, net\n\n195,443\n\n\n199,519\n\n\nOperating lease right-of-use assets\n\n305,637\n\n\n312,989\n\n\nSupplemental retirement savings plan assets\n\n99,339\n\n\n96,739\n\n\nAccounts receivable, long-term\n\n13,311\n\n\n11,857\n\n\nOther long-term assets\n\n178,644\n\n\n177,127\n\n\nTotal assets\n$\n6,796,101\n\n$\n6,600,808\n\n\n\n\n\n\n\n\nLIABILITIES AND SHAREHOLDERS’ EQUITY\n\n\n\n\n\nCurrent liabilities:\n\n\n\n\n\nCurrent portion of long-term debt\n$\n61,250\n\n$\n45,938\n\n\nAccounts payable\n\n287,142\n\n\n198,177\n\n\nAccrued compensation and benefits\n\n316,514\n\n\n372,354\n\n\nOther accrued expenses and current liabilities\n\n413,354\n\n\n377,502\n\n\nTotal current liabilities\n\n1,078,260\n\n\n993,971\n\n\n\n\n\n\n\n\nLong-term debt, net of current portion\n\n1,481,387\n\n\n1,650,443\n\n\nSupplemental retirement savings plan obligations, net of current portion\n\n111,208\n\n\n104,912\n\n\nDeferred income taxes\n\n169,808\n\n\n120,545\n\n\nOperating lease liabilities, noncurrent\n\n325,046\n\n\n329,432\n\n\nOther long-term liabilities\n\n112,185\n\n\n177,171\n\n\nTotal liabilities\n\n3,277,894\n\n\n3,376,474\n\n\n\n\n\n\n\n\nTotal shareholders’ equity\n\n3,518,207\n\n\n3,224,334\n\n\nTotal liabilities and shareholders’ equity\n$\n6,796,101\n\n$\n6,600,808\n\n\n\n\n\n\nCACI International IncConsolidated Statements of Cash Flows (Unaudited)(in thousands)\n\n\n\n \n\n\n\nTwelve Months Ended\n\n\n\n6/30/2024\n\n6/30/2023\n\n\nCASH FLOWS FROM OPERATING ACTIVITIES\n\n\n\n\n\nNet income\n$\n419,924\n\n\n$\n384,735\n\n\n\nAdjustments to reconcile net income to net cash provided by operating activities:\n\n\n\n\n\nDepreciation and amortization\n\n142,145\n\n\n\n141,564\n\n\n\nAmortization of deferred financing costs\n\n2,194\n\n\n\n2,233\n\n\n\nNon-cash lease expense\n\n67,898\n\n\n\n69,400\n\n\n\nStock-based compensation expense\n\n53,904\n\n\n\n39,643\n\n\n\nDeferred income taxes\n\n(49,763\n)\n\n\n(146,013\n)\n\n\nChanges in operating assets and liabilities, net of effect of business acquisitions:\n\n\n\n\n\nAccounts receivable, net\n\n(127,878\n)\n\n\n32,081\n\n\n\nPrepaid expenses and other assets\n\n580\n\n\n\n(43,568\n)\n\n\nAccounts payable and other accrued expenses\n\n125,173\n\n\n\n(6,629\n)\n\n\nAccrued compensation and benefits\n\n(58,352\n)\n\n\n(34,422\n)\n\n\nIncome taxes payable and receivable\n\n(27,227\n)\n\n\n10,997\n\n\n\nOperating lease liabilities\n\n(73,905\n)\n\n\n(75,586\n)\n\n\nLong-term liabilities\n\n22,638\n\n\n\n13,621\n\n\n\nNet cash provided by operating activities\n\n497,331\n\n\n\n388,056\n\n\n\n\n\n\n\n\n\nCASH FLOWS FROM INVESTING ACTIVITIES\n\n\n\n\n\nCapital expenditures\n\n(63,686\n)\n\n\n(63,717\n)\n\n\nAcquisitions of businesses, net of cash acquired\n\n(90,240\n)\n\n\n(14,462\n)\n\n\nOther\n\n1,974\n\n\n\n2,462\n\n\n\nNet cash used in investing activities\n\n(151,952\n)\n\n\n(75,717\n)\n\n\n\n\n\n\n\n\nCASH FLOWS FROM FINANCING ACTIVITIES\n\n\n\n\n\nProceeds from borrowings under bank credit facilities\n\n3,102,000\n\n\n\n3,238,000\n\n\n\nPrincipal payments made under bank credit facilities\n\n(3,257,938\n)\n\n\n(3,276,625\n)\n\n\nProceeds from employee stock purchase plans\n\n11,290\n\n\n\n10,225\n\n\n\nRepurchases of common stock\n\n(161,487\n)\n\n\n(273,235\n)\n\n\nPayment of taxes for equity transactions\n\n(20,760\n)\n\n\n(14,473\n)\n\n\nNet cash used in financing activities\n\n(326,895\n)\n\n\n(316,108\n)\n\n\nEffect of exchange rate changes on cash and cash equivalents\n\n(299\n)\n\n\n4,741\n\n\n\nNet change in cash and cash equivalents\n\n18,185\n\n\n\n972\n\n\n\nCash and cash equivalents, beginning of year\n\n115,776\n\n\n\n114,804\n\n\n\nCash and cash equivalents, end of year\n$\n133,961\n\n\n$\n115,776\n\n\n\n\n\n\n\nRevenues by Customer Group (Unaudited)\n\n\n\n \n\n\n\nThree Months Ended\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n$ Change\n% Change\n\n\nDepartment of Defense\n$\n1,532,329\n\n75.2\n%\n\n$\n1,263,390\n\n74.2\n%\n\n$\n268,939\n\n21.3\n%\n\n\nFederal Civilian agencies\n\n409,762\n\n20.1\n%\n\n\n353,828\n\n20.8\n%\n\n\n55,934\n\n15.8\n%\n\n\nCommercial and other\n\n96,204\n\n4.7\n%\n\n\n85,883\n\n5.0\n%\n\n\n10,321\n\n12.0\n%\n\n\nTotal\n$\n2,038,295\n\n100.0\n%\n\n$\n1,703,101\n\n100.0\n%\n\n$\n335,194\n\n19.7\n%\n\n\n\n \n\n\n\nTwelve Months Ended\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n$ Change\n% Change\n\n\nDepartment of Defense\n$\n5,695,408\n\n74.4\n%\n\n$\n4,817,470\n\n71.9\n%\n\n$\n877,938\n\n18.2\n%\n\n\nFederal Civilian agencies\n\n1,588,262\n\n20.7\n%\n\n\n1,533,295\n\n22.9\n%\n\n\n54,967\n\n3.6\n%\n\n\nCommercial and other\n\n376,162\n\n4.9\n%\n\n\n351,781\n\n5.2\n%\n\n\n24,381\n\n6.9\n%\n\n\nTotal\n$\n7,659,832\n\n100.0\n%\n\n$\n6,702,546\n\n100.0\n%\n\n$\n957,286\n\n14.3\n%\n\n\n\n\n\n\nRevenues by Contract Type (Unaudited)\n\n\n\n \n\n\n\nThree Months Ended\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n$ Change\n% Change\n\n\nCost-plus-fee\n$\n1,243,561\n\n61.0\n%\n\n$\n999,947\n\n58.8\n%\n\n$\n243,614\n\n24.4\n%\n\n\nFixed-price\n\n548,571\n\n26.9\n%\n\n\n503,053\n\n29.5\n%\n\n\n45,518\n\n9.0\n%\n\n\nTime-and-materials\n\n246,163\n\n12.1\n%\n\n\n200,101\n\n11.7\n%\n...\n   \n46,062\n\n23.0\n%\n\n\nTotal\n$\n2,038,295\n\n100.0\n%\n\n$\n1,703,101\n\n100.0\n%\n\n$\n335,194\n\n19.7\n%\n\n\n\n \n\n\n\nTwelve Months Ended\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n$ Change\n% Change\n\n\nCost-plus-fee\n$\n4,654,689\n\n60.8\n%\n\n$\n3,896,725\n\n58.1\n%\n\n$\n757,964\n\n19.5\n%\n\n\nFixed-price\n\n2,091,179\n\n27.3\n%\n\n\n2,023,968\n\n30.2\n%\n\n\n67,211\n\n3.3\n%\n\n\nTime-and-materials\n\n913,964\n\n11.9\n%\n\n\n781,853\n\n11.7\n%\n\n\n132,111\n\n16.9\n%\n\n\nTotal\n$\n7,659,832\n\n100.0\n%\n\n$\n6,702,546\n\n100.0\n%\n\n$\n957,286\n\n14.3\n%\n\n\n\n\n\n\nRevenues by Prime or Subcontractor (Unaudited)\n\n\n\n \n\n\n\nThree Months Ended\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n$ Change\n% Change\n\n\nPrime contractor\n$\n1,822,333\n\n89.4\n%\n\n$\n1,505,818\n\n88.4\n%\n\n$\n316,515\n\n21.0\n%\n\n\nSubcontractor\n\n215,962\n\n10.6\n%\n\n\n197,283\n\n11.6\n%\n\n\n18,679\n\n9.5\n%\n\n\nTotal\n$\n2,038,295\n\n100.0\n%\n\n$\n1,703,101\n\n100.0\n%\n\n$\n335,194\n\n19.7\n%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\nTwelve Months Ended\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n$ Change\n% Change\n\n\nPrime contractor\n$\n6,849,849\n\n89.4\n%\n\n$\n5,973,700\n\n89.1\n%\n\n$\n876,149\n\n14.7\n%\n\n\nSubcontractor\n\n809,983\n\n10.6\n%\n\n\n728,846\n\n10.9\n%\n\n\n81,137\n\n11.1\n%\n\n\nTotal\n$\n7,659,832\n\n100.0\n%\n\n$\n6,702,546\n\n100.0\n%\n\n$\n957,286\n\n14.3\n%\n\n\n\n\n\n\nRevenues by Expertise or Technology (Unaudited)\n\n\n\n \n\n\n\nThree Months Ended\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n$ Change\n% Change\n\n\nExpertise\n$\n912,399\n\n44.8\n%\n\n$\n803,249\n\n47.2\n%\n\n$\n109,150\n\n13.6\n%\n\n\nTechnology\n\n1,125,896\n\n55.2\n%\n\n\n899,852\n\n52.8\n%\n\n\n226,044\n\n25.1\n%\n\n\nTotal\n$\n2,038,295\n\n100.0\n%\n\n$\n1,703,101\n\n100.0\n%\n\n$\n335,194\n\n19.7\n%\n\n\n\n \n\n\n\nTwelve Months Ended\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n$ Change\n% Change\n\n\nExpertise\n$\n3,556,989\n\n46.4\n%\n\n$\n3,091,372\n\n46.1\n%\n\n$\n465,617\n\n15.1\n%\n\n\nTechnology\n\n4,102,843\n\n53.6\n%\n\n\n3,611,174\n\n53.9\n%\n\n\n491,669\n\n13.6\n%\n\n\nTotal\n$\n7,659,832\n\n100.0\n%\n\n$\n6,702,546\n\n100.0\n%\n\n$\n957,286\n\n14.3\n%\n\n\n\n\n\n\nContract Awards (Unaudited)\n\n\n\n \n\n\n\nThree Months Ended\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n$ Change\n% Change\n\n\nContract Awards\n$\n5,420,636\n\n$\n2,324,891\n\n$\n3,095,745\n\n133.2\n%\n\n\n\n \n\n\n\nTwelve Months Ended\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n$ Change\n% Change\n\n\nContract Awards\n$\n14,192,908\n\n$\n10,118,442\n\n$\n4,074,466\n\n40.3\n%\n\n\n\nReconciliation of Net Income to Adjusted Net Income and Diluted EPS to Adjusted Diluted EPS (Unaudited)\nAdjusted net income and Adjusted diluted EPS are non-GAAP performance measures. We define Adjusted net income and Adjusted diluted EPS as GAAP net income and GAAP diluted EPS, respectively, excluding intangible amortization expense and the related tax impact as we do not consider intangible amortization expense to be indicative of our operating performance. We believe that these performance measures provide management and investors with useful information in assessing trends in our ongoing operating performance, provide greater visibility in understanding the long-term financial performance of the Company, and allow investors to more easily compare our results to results of our peers. These non-GAAP measures should not be considered in isolation or as a substitute for performance measures prepared in accordance with GAAP.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(in thousands, except per share data)\nThree Months Ended\n\nTwelve Months Ended\n\n\n\n\n6/30/2024\n6/30/2023\n% Change\n\n6/30/2024\n6/30/2023\n% Change\n\n\n\n\nNet income, as reported\n$\n134,657\n\n\n$\n107,767\n\n\n25.0\n%\n\n$\n419,924\n\n\n$\n384,735\n\n\n\n9.1\n%\n\n\n\n\nIntangible amortization expense\n\n18,626\n\n\n\n18,618\n\n\n0.0\n%\n\n\n73,776\n\n\n\n75,426\n\n\n\n-2.2\n%\n\n\n\n\nTax effect of intangible amortization1\n\n(4,575\n)\n\n\n(4,524\n)\n\n1.1\n%\n\n\n(18,640\n)\n\n\n(19,236\n)\n\n\n-3.1\n%\n\n\n\n\nAdjusted net income\n$\n148,708\n\n\n$\n121,861\n\n\n22.0\n%\n\n$\n475,060\n\n\n$\n440,925\n\n\n\n7.7\n%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThree Months Ended\n\nTwelve Months Ended\n\n\n\n\n\n6/30/2024\n6/30/2023\n% Change\n\n6/30/2024\n6/30/2023\n% Change\n\n\n\n\nDiluted EPS, as reported\n$\n5.98\n\n\n$\n4.68\n\n\n27.8\n%\n\n$\n18.60\n\n\n$\n16.43\n\n\n\n13.2\n%\n\n\n\n\nIntangible amortization expense\n\n0.83\n\n\n\n0.81\n\n\n2.5\n%\n\n\n3.27\n\n\n\n3.22\n\n\n\n1.6\n%\n\n\n\n\nTax effect of intangible amortization1\n\n(0.20\n)\n\n\n(0.19\n)\n\n5.3\n%\n\n\n(0.82\n)\n\n\n(0.82\n)\n\n\n0.0\n%\n\n\n\n\nAdjusted diluted EPS\n$\n6.61\n\n\n$\n5.30\n\n\n24.7\n%\n\n$\n21.05\n\n\n$\n18.83\n\n\n\n11.8\n%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFY25 Current Guidance Range\n\n\n\n\n(in millions, except per share data)\n\n\n\n\n\n\nLow End\n\n\n\nHigh End\n\n\n\n\nNet income, as reported\n\n\n\n\n\n\n$\n451\n\n\n\n---\n\n\n$\n471\n\n\n\n\n\nIntangible amortization expense\n\n\n\n\n\n\n\n72\n\n\n\n---\n\n\n\n72\n\n\n\n\n\nTax effect of intangible amortization1\n\n\n\n\n\n\n\n(18\n)\n\n\n---\n\n\n\n(18\n)\n\n\n\n\nAdjusted net income\n\n\n\n\n\n\n$\n505\n\n\n\n---\n\n\n$\n525\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFY25 Current Guidance Range\n\n\n\n\n\n\n\n\n\n\n\nLow End\n\n\n\nHigh End\n\n\n\n\nDiluted EPS, as reported\n\n\n\n\n\n\n$\n20.04\n\n\n\n---\n\n\n$\n20.93\n\n\n\n\n\nIntangible amortization expense\n\n\n\n\n\n\n\n3.20\n\n\n\n---\n\n\n\n3.20\n\n\n\n\n\nTax effect of intangible amortization1\n\n\n\n\n\n\n\n(0.80\n)\n\n\n---\n\n\n\n(0.80\n)\n\n\n\n\nAdjusted diluted EPS\n\n\n\n\n\n\n$\n22.44\n\n\n\n---\n\n\n$\n23.33\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(1)\n\nCalculation uses an assumed full year statutory tax rate of 25.3% and 25.5% on non-GAAP tax deductible adjustments for June 30, 2024 and 2023, respectively.\n\n\n\n\n \n\n\nNote: Numbers may not sum due to rounding.\n\n\n\nReconciliation of Net Income to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (Unaudited)\nThe Company views EBITDA and EBITDA margin, both of which are defined as non-GAAP measures, as important indicators of performance, consistent with the manner in which management measures and forecasts the Company’s performance. EBITDA is a commonly used non-GAAP measure when comparing our results with those of other companies. We define EBITDA as GAAP net income plus net interest expense, income taxes, and depreciation and amortization expense (including depreciation within direct costs). We consider EBITDA to be a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business on a consistent basis across reporting periods, as it eliminates the effect of non-cash items such as depreciation of tangible assets, amortization of intangible assets primarily recognized in business combinations, which we do not believe are indicative of our operating performance. EBITDA margin is divided by revenue. These non-GAAP measures should not be considered in isolation or as a substitute for performance measures prepared in accordance with GAAP.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThree Months Ended\n\nTwelve Months Ended\n\n\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n% Change\n\n6/30/2024\n6/30/2023\n% Change\n\n\n\n\nNet income\n$\n134,657\n\n$\n107,767\n\n25.0\n%\n\n$\n419,924\n\n$\n384,735\n\n9.1\n%\n\n\n\n\nPlus:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIncome taxes\n\n38,792\n\n\n16,873\n\n129.9\n%\n\n\n124,725\n\n\n98,904\n\n26.1\n%\n\n\n\n\nInterest income and expense, net\n\n24,301\n\n\n24,156\n\n0.6\n%\n\n\n105,059\n\n\n83,861\n\n25.3\n%\n\n\n\n\nDepreciation and amortization expense, including amounts within direct costs\n\n37,125\n\n\n36,898\n\n0.6\n%\n\n\n148,293\n\n\n148,482\n\n-0.1\n%\n\n\n\n\nEBITDA\n$\n234,875\n\n$\n185,694\n\n26.5\n%\n\n$\n798,001\n\n$\n715,982\n\n11.5\n%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThree Months Ended\n\nTwelve Months Ended\n\n\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n% Change\n\n6/30/2024\n6/30/2023\n% Change\n\n\n\n\nRevenues, as reported\n$\n2,038,295\n\n$\n1,703,101\n\n19.7\n%\n\n$\n7,659,832\n\n$\n6,702,546\n\n14.3\n%\n\n\n\n\nEBITDA\n\n234,875\n\n\n185,694\n\n26.5\n%\n\n\n798,001\n\n\n715,982\n\n11.5\n%\n\n\n\n\nEBITDA margin\n\n11.5%\n\n\n10.9%\n\n\n\n\n10.4%\n\n\n10.7%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nReconciliation of Net Cash Provided by Operating Activities to Net Cash Provided by Operating Activities Excluding MARPA and to Free Cash Flow (Unaudited)\nThe Company defines Net cash provided by operating activities excluding MARPA, a non-GAAP measure, as net cash provided by operating activities calculated in accordance with GAAP, adjusted to exclude cash flows from CACI’s Master Accounts Receivable Purchase Agreement (MARPA) for the sale of certain designated eligible U.S. government receivables up to a maximum amount of $250.0 million. Free cash flow is a non-GAAP liquidity measure and may not be comparable to similarly titled measures used by other companies. The Company defines Free cash flow as Net cash provided by operating activities excluding MARPA, less payments for capital expenditures. The Company uses these non-GAAP measures to assess our ability to generate cash from our business operations and plan for future operating and capital actions. We believe these measures allow investors to more easily compare current period results to prior period results and to results of our peers. Free cash flow does not represent residual cash flows available for discretionary purposes and should not be used as a substitute for cash flow measures prepared in accordance with GAAP.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThree Months Ended\n\nTwelve Months Ended\n\n\n\n\n(in thousands)\n6/30/2024\n6/30/2023\n\n6/30/2024\n6/30/2023\n\n\n\n\nNet cash provided by operating activities\n$\n157,208\n\n\n$\n152,102\n\n\n$\n497,331\n\n\n$\n388,056\n\n\n\n\n\nCash used in (provided by) MARPA\n\n—\n\n\n\n(27,310\n)\n\n\n(50,000\n)\n\n\n(42,215\n)\n\n\n\n\nNet cash provided by operating activities excluding MARPA\n\n157,208\n\n\n\n124,792\n\n\n\n447,331\n\n\n\n345,841\n\n\n\n\n\nCapital expenditures\n\n(22,595\n)\n\n\n(22,873\n)\n\n\n(63,686\n)\n\n\n(63,717\n)\n\n\n\n\nFree cash flow\n$\n134,613\n\n\n$\n101,919\n\n\n$\n383,645\n\n\n$\n282,124\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(in millions)\n\n\n\n\nFY25CurrentGuidance\n\n\n\n\n\n\nNet cash provided by operating activities\n\n\n\n\n$\n505\n\n\n\n\n\n\n\nCash used in (provided by) MARPA\n\n\n\n\n\n—\n\n\n\n\n\n\n\nNet cash provided by operating activities excluding MARPA\n\n\n\n\n\n505\n\n\n\n\n\n\n\nCapital expenditures\n\n\n\n\n\n(80\n)\n\n\n\n\n\n\nFree cash flow\n\n\n\n\n$\n425\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20240807469805/en/\nContacts\nCorporate Communications and Media:Lorraine Corcoran, Executive Vice President, Corporate Communications(703) 434-4165, lorraine.corcoran@caci.com\nInvestor Relations:George Price, Senior Vice President, Investor Relations(703) 841-7818, george.price@caci.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2457687796"}