Q3 2024 Earnings Summary
Reported on Feb 18, 2025 (After Market Close)
Pre-Earnings Price$401.87Last close (Apr 25, 2024)
Post-Earnings Price$401.87Open (Apr 26, 2024)
Price Change
$0.00(0.00%)
- Strong organic growth: CACI is experiencing low double-digit organic growth in the second half of the fiscal year, driven by broad-based performance across the portfolio, including accelerated program ramps and share gains. ,
- Record backlog providing long-term visibility: The company has a record backlog of $29 billion, representing nearly 4 years of annual revenue, which supports future growth above long-term expectations. ,
- Strategic positioning in high-demand areas: CACI is well-positioned in key national security priorities such as electromagnetic spectrum operations, Counter-UAS technology, and network modernization, which are expected to drive growth beyond fiscal year 2025 with significant new opportunities and expanding addressable markets. , ,
- Management is not providing guidance for fiscal year 2025, leading to uncertainty about future margins and growth expectations. When asked about FY'25 margins, CFO Jeffrey MacLauchlan stated, "We're not ready to talk about '25... we really manage the business on an annual basis and I would encourage you to think about it that way."
- The company did not repurchase any shares during the quarter, despite having available headroom, which may raise concerns about capital allocation and confidence in the share price. CFO Jeffrey MacLauchlan noted, "Even though we didn't buy any shares in the quarter... we are continuing to evaluate both opportunities."
- Long-term growth is expected to be mid-single-digit, potentially lower than investor expectations considering the current double-digit growth. CEO John Mengucci stated, "We are at the point where we're a reliable mid-single-digit growth company over the long term."