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% YoY

Annual EBITDA of $798.0 million and EBITDA margin of 10.4%

Annual contract awards of $14.2 billion and book-to-bill of 1.9x

Company committed to continued healthy cash flow in Fiscal Year 2025, driven by revenue growth, strong margins, and efficient capital management

RESTON, Va.: #LimitlessPotential--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.

“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.”

Fourth Quarter Results

Revenues 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.

Fourth Quarter Contract Awards

Contract 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:

• CACI 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.
• CACI 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.
• CACI 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.
• CACI 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.
• CACI 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.
• CACI 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.
• CACI 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.

Total 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.

Additional Highlights

• CACI’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.
• CACI 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.
• CACI 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.

Fiscal Year Results

Revenues 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.

Fiscal Year 2025 Guidance

The table below summarizes our fiscal year 2025 guidance and represents our views as of August 7, 2024.

Conference Call Information

We 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/.

About CACI

At 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.

There 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.

CACI International Inc Consolidated Statements of Operations (Unaudited) (in thousands, except per share data)
	Three Months Ended									Twelve Months Ended
	6/30/2024			6/30/2023			% Change			6/30/2024			6/30/2023			% Change
Revenues	$	2,038,295		$	1,703,101		19.7	%		$	7,659,832		$	6,702,546		14.3	%
Costs of revenues:
Direct costs		1,328,468			1,108,861		19.8	%			5,147,540			4,402,728		16.9	%
Indirect costs and selling expenses		476,317			410,135		16.1	%			1,720,439			1,590,754		8.2	%
Depreciation and amortization		35,760			35,309		1.3	%			142,145			141,564		0.4	%
Total costs of revenues		1,840,545			1,554,305		18.4	%			7,010,124	If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter. Related news Tax Systems Launches AI-powered, SaaS Solution for Global Pillar Two Compliance and Reporting Humanoids Summit Expands to London in May 2025 and Returns to Silicon Valley in December Esker Q4 2024 Sales Activity AI Use Cases Research Report 2024 with Best Practice Recommendations for Enterprises - Leveraging Best-in-Class Solutions and Services Will Be Pivotal to Successful Deployments - ResearchAndMarkets.com InVitro Capital Launches with a Bold Approach to Transform Under-Innovated Markets Equilar Celebrates 25 Years of Partnership, Innovation and Growth Procurify Appoints Jeffrey Hardy as Chief Revenue Officer Cerebras Systems and Mayo Clinic Unveil Best in Class Genomic Foundation Model Last News RSA at Cybertech Europe 2024 Alaa Abdul Nabi, Vice President, Sales International at RSA presents the innovations the vendor brings to Cybertech as part of a passwordless vision for… Italian Security Awards 2024: G11 Media honours the best of Italian cybersecurity G11 Media's SecurityOpenLab magazine rewards excellence in cybersecurity: the best vendors based on user votes How Austria is making its AI ecosystem grow Always keeping an European perspective, Austria has developed a thriving AI ecosystem that now can attract talents and companies from other countries Sparkle and Telsy test Quantum Key Distribution in practice Successfully completing a Proof of Concept implementation in Athens, the two Italian companies prove that QKD can be easily implemented also in pre-existing… Most read Keysight Launches All-In-One Solution for Network Visibility and Security #AI--Keysight Technologies, Inc. (NYSE: KEYS) launched AppFusion, a network visibility partner program that integrates third-party security and monitoring… AI Solutions for Visually Impaired, AI Search and AI Agents Win ISG Startup… #AI--AI-powered solutions for addressing visual impairments, optimizing brands for AI search and creating AI agents won the ISG Startup Challenges at… Sensormatic Solutions Extends Shrink Analyzer Capabilities ‘Beyond the… Sensormatic Solutions, the leading global retail solutions portfolio of Johnson Controls (NYSE: JCI), continues its mission of building smarter, more… N-Power Medicine Acquires Syapse to Expand Its Next-Generation Community-Based… N-Power Medicine, a company leading the reinvention of the clinical trial process, today announced the acquisition of Syapse Holdings Inc. (“Syapse”),… Newsletter signup Join our mailing list to get weekly updates delivered to your inbox. Sign me up! G11 Media Networks BitCity ChannelCity ImpresaCity SecurityOpenLab GreenCity ImpresaGreen ItalianChannelAwards AgendaIct Home Newsletter Staff Copyright Contact us InnovationOpenLab is a channel of BitCity, a newspaper registered at the court of Como , n. 21/2007 del 11/10/2007- Registration ROC n. 15698 G11 MEDIA S.R.L. Registered office Via NUOVA VALASSINA, 4 22046 MERONE (CO) - P.IVA/C.F.03062910132 Como business register n. 03062910132 - REA n. 293834 CAPITALE SOCIALE Euro 30.000 i.v. Cookie Privacy