NYSE$CACI
CACI International Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
CACI's first quarter results for fiscal year 2024 were reported, with revenue increasing by 15% year-over-year, driven by organic growth and higher material purchases, and contract awards totaling $3.1 billion.
CACI International Inc. reported a 15% increase in revenue for the first quarter of fiscal year 2024, reaching $1.9 billion. Diluted EPS remained unchanged at $3.76, while contract awards totaled $3.1 billion, resulting in a book-to-bill ratio of 1.7x. The company raised its fiscal year 2024 revenue, adjusted EPS, and free cash flow guidance.
- Revenues increased by 15% year-over-year, driven by organic growth and approximately $100 million in higher-than-expected material purchases.
- Contract awards totaled $3.1 billion, with over 50% for new business.
- Diluted earnings per share and adjusted diluted earnings per share were unchanged year-over-year.
- The company raised its fiscal year 2024 revenue, adjusted EPS, and free cash flow guidance.
Headline financials
Revenue & EPS history
CACI · Revenue · Quarterly
$1.85B
Revenue by segment
CACI · $7.4B total across 10 segments · Q1 2024
- Prime Contractor$1.65B+13.7%22.3%
- Dept. of Defense$1.35B+23.5%18.3%
- Cost-Plus-Fee$1.13B+21.4%15.3%
- Technology$972M+11.5%13.1%
- Expertise$878M+19.6%11.9%
- Fixed-Price$502M+4.2%6.8%
- Federal Civilian$407M-3.9%5.5%
- Time & Materials$214M+12.9%2.9%
- Subcontractor$201M+29.2%2.7%
- Commercial & Other$90.5M+4.8%1.2%
Forward guidance
CACI raised its fiscal year 2024 revenue, adjusted EPS, and free cash flow guidance.
Tailwinds
- Revenue guidance now reflects approximately $200 million of higher-than-expected material purchases by our customers, split evenly between the first and second quarters of fiscal year 2024.
- Guidance also now reflects lower diluted weighted average shares due to the effect of the share repurchases made during the first quarter.
- Higher free cash flow reflects first quarter results and confidence in our expectations for the year.
- Revenue is expected to be between $7,200 million and $7,400 million.
- Free cash flow is expected to be at least $410 million.
Headwinds
- Approximately $200 million of higher-than-expected material purchases by our customers has no material contribution to profit.
- Assumes approximately $75 million in tax payments related to Section 174 of the Tax Cuts and Jobs Act of 2017.
- Adjusted net income is expected to be between $440 million and $465 million.
- Adjusted diluted earnings per share is expected to be between $19.38 and $20.48.
- Diluted weighted average shares are expected to be 22.7 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+1.1%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+2.1%
Avg return
30 days after
63%
42 / 67 earnings
Positive
+14.7%
Q2 2016
Best reaction
-16.2%
Q3 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +2.8% | -0.7% | -2.3% | |
| Q2 2026 | +3.6% | +1.7% | -7.4% | |
| Q1 2026 | +12.3% | +10.1% | +15.3% | |
| Q3 2025 | +7.9% | +6.1% | +9.0% | |
| Q2 2025 | -9.3% | -15.7% | -29.7% | |
| Q1 2025 | +5.6% | +4.7% | -10.4% | |
| Q4 2024 | +3.1% | +3.7% | +4.5% | |
| Q3 2024 | +5.1% | +5.9% | +12.2% | |
| Q2 2024 | -1.6% | +1.3% | +8.7% | |
| Q1 2024 | +1.4% | -1.6% | +0.7% | |
| Q4 2023 | -3.2% | -3.7% | -10.4% | |
| Q3 2023 | +2.8% | +4.0% | -2.4% | |
| Q2 2023 | +5.2% | +4.5% | +2.9% | |
| Q1 2023 | +5.9% | +9.2% | +11.8% | |
| Q4 2022 | -2.6% | +1.4% | -1.0% | |
| Q3 2022 | -4.9% | -5.6% | +1.0% | |
| Q2 2022 | -8.9% | -7.4% | -0.5% | |
| Q1 2022 | -1.4% | +2.6% | -4.9% | |
| Q4 2021 | +0.1% | +0.8% | +1.0% | |
| Q3 2021 | -1.3% | -3.2% | -1.8% | |
| Q2 2021 | -2.4% | -5.3% | -12.4% | |
| Q1 2021 | +0.6% | +6.9% | +19.7% | |
| Q4 2020 | +5.8% | +8.0% | +4.5% | |
| Q3 2020 | +0.4% | +2.1% | +0.7% | |
| Q2 2020 | +4.0% | +1.2% | -9.0% | |
| Q1 2020 | +0.1% | +0.1% | +7.1% | |
| Q4 2019 | -3.8% | -0.8% | +2.4% | |
| Q3 2019 | +4.0% | +4.9% | +4.4% | |
| Q2 2019 | +6.0% | +9.3% | +16.9% | |
| Q1 2019 | -0.8% | -1.0% | -5.5% | |
| Q4 2018 | +4.5% | +4.2% | +8.1% | |
| Q3 2018 | +1.7% | +5.3% | +11.0% | |
| Q2 2018 | +7.0% | +1.4% | +6.9% | |
| Q1 2018 | -7.2% | -10.9% | -8.9% | |
| Q4 2017 | -1.8% | -2.9% | +1.8% | |
| Q3 2017 | +8.0% | +7.0% | +5.8% | |
| Q2 2017 | +7.1% | +5.4% | +2.1% | |
| Q1 2017 | -1.6% | -3.0% | +27.4% | |
| Q4 2016 | +2.5% | +4.5% | +3.0% | |
| Q3 2016 | -9.7% | — | — | |
| Q2 2016 | +14.7% | — | — | |
| Q1 2016 | +13.2% | — | — | |
| Q4 2015 | +2.3% | — | — | |
| Q3 2015 | -0.3% | — | — | |
| Q2 2015 | +0.1% | — | — | |
| Q1 2015 | +10.3% | — | — | |
| Q4 2014 | +1.2% | — | — | |
| Q3 2014 | +4.5% | — | — | |
| Q2 2014 | -3.9% | — | — | |
| Q1 2014 | +0.1% | — | — | |
| Q4 2013 | -0.5% | — | — | |
| Q3 2013 | -1.0% | — | — | |
| Q2 2013 | -4.4% | — | — | |
| Q1 2013 | +9.0% | — | — | |
| Q4 2012 | -5.9% | — | — | |
| Q3 2012 | -16.2% | — | — | |
| Q2 2012 | +0.7% | — | — | |
| Q1 2012 | -8.0% | — | — | |
| Q4 2009 | +5.7% | — | — | |
| Q4 2011 | +5.7% | — | — | |
| Q3 2010 | +1.1% | — | — | |
| Q3 2011 | +1.1% | — | — | |
| Q2 2010 | -2.0% | — | — | |
| Q2 2011 | -2.0% | — | — | |
| Q1 2010 | +1.2% | — | — | |
| Q1 2011 | +1.2% | — | — | |
| Q4 2010 | +1.2% | — | — |
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