Q2 2024 Earnings Summary
Reported on Jan 25, 2024 (After Market Close)
Pre-Earnings Price$334.14Last close (Jan 25, 2024)
Post-Earnings Price$337.86Open (Jan 26, 2024)
Price Change
$3.72(+1.11%)
- Strong growth and raised guidance: CACI is raising its fiscal 2024 guidance, reflecting stronger momentum in the second half and increased confidence in their expectations for the year.
- Healthy pipeline of opportunities: CACI has a pipeline of $14 billion in bids expected to be submitted over the next two quarters, an increase from $10 billion last quarter, including several billion-dollar opportunities in enduring, well-funded areas of need.
- Large program wins driving future growth: Recent significant contract awards, such as the $525 million GENMOD contract, are expected to ramp up and contribute to growth in fiscal 2025 and beyond, supporting long-term revenue growth.
- CACI anticipates lower profitability in the initial stages of ramping up new programs, particularly in photonics and SA Photonics, which could impact near-term margins.
- A significant 57% of earnings is projected to come in the second half of the fiscal year, relying on a substantial improvement in margins and revenue, which may pose execution risks if ramp-up does not occur as expected.
- Management emphasizes a long-term approach to margin expansion, indicating that continued heavy investment and R&D spending may pressure margins in the near term.
Research analysts covering CACI INTERNATIONAL INC /DE/.