CACI - Earnings call transcript Q1 2022

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the CACI International Fiscal 2022 First Quarter Results. Today's call is being recorded. [Operator Instructions]. At this time, I would like to turn the conference over to Dan Leckburg, Senior Vice President of Investor Relations for CACI International. sir. ahead, go Please

Daniel Leckburg

and of everyone. and Investor joining you Ailee, Senior I Dan Vice for morning. this President Relations us good thanks, I'm morning, Leckburg, thank Well, for CACI,

results views be let's providing are Slide There statements to call fact, address presentation These do so that bottom and of constitute actual today release could to factors in Those our statements filings. factors are We of under described company's the press move as the materially current this in and law. cause as such, slides, differ are #X, to please. subject not important night's historical and at anticipated. that are SEC will from our listed forward-looking reflect last statements

on would not These also will with to our as measures a harbor and of include non-GAAP substitute is prepared exhibit for discussion part performance as that measures. in safe should accordance like I transcript should incorporated statement of call. of GAAP. be or presentation any in considered included this isolation point out this be Our financial

President Let's Chief CACI turn please. To Mengucci, I'll turn Officer open Executive X, the call to International. to John discussion John? this of over our Slide morning, and

John Mengucci

Chief morning, our Dan, Financial XXXX discuss our Officer. results. for Thanks, first good everyone. Mutryn, joining and quarter is morning With you Thank us Tom to me this

Slide Let's to X, move please.

and contract revenue for start a Profitability X, represent XX%. XX-month the technology Our we first XX.X%. by flow, with of quarter growth and book-to-bill of Slide We X.Xx cash by strong margin quarter both and adjusted driven We a won in basis. strong of results organically, $X.X revenue billion representing a were robust awards, was expectations please. our on our trailing EBITDA X% fiscal with to line year. grew of generated

remain very Turning environment, to optimistic. the we external

is agenda modernization It to see and while The is near-peer toward develop with well R&D-led adversaries to a common are an supporting pursuing the impacted business. as capabilities strategy a December, on historically you increasingly continued very and is speed has investments. our technology, broad we early administration continue CR standpoint, which not flexibility. administration's priorities. through an From that geared We our capabilities know, under and counterterrorism, align very focuses most agenda and of also budget

continues. the play out, on as all government spending process increasing consistent to are market the Defense process been CACI. While sides addressable still year 'XX fiscal and large has continues appropriations with growing very for budget the discussions

be is there of in or past, positioned spending As growth very for civilian cybersecurity, well well-funded are CACI, remains IT DoD, higher, offerings enterprise I've noted bulk AI continues modernization the modestly on support based flat national whether spending. in like please. the and to across our strong security-related areas of agencies the bipartisan the technology X, At Slide community. and mission and software. intelligence entirety CACI

of technology usability. Software threat speed increased to enables security evolving the new challenges and -- address and the our with that technology landscape delivery without capabilities at and of require most pressing environment. customers' within Challenges us the agility,

and our successes desire enterprise program posture. the migrate and with customers. This and delivering were forward As IT and award move other development recently DHS This step and major The is by of to with doing a additional It's awarded modernization environment. cloud, legacy scalable using to our cyber application Army, the new systems Force's cloud an $XXX recompete customer million we our regarded as work. and is the agile many modernize modernize, in example, enterprise Air agile other to capabilities technology so, significantly example a efficiency. security, follows scalability by capabilities contract financial to a a systems win improved a software enhance the to great overall these

heart our capabilities. swarms, technology the range addition, are architectures mission to of technology. to at with and and in the area, counter-UAS systems our deployment extending counter-UAS ability track everything enabling effectiveness, We industry-leading software-defined AVT's enhancing increasing our flexibility, recently electrical optical defeat the like CORIAN open and of system, other In announced enhancements integration infrared

increase In property. addition, an to which funded our deployed Tactical, that counter-UAS as These we pursue win a demands can less new CORIAN enhancements CACI opportunities. we based be introduced address than on intellectual in is and configuration entirely new streamlined hour and probability

through our in and With our also synergies, community. and the performance million those over offensive with growth CACI This and continued flow. This to provide came of to the our quarter, and came originally defensive. significant our cash includes a its million quarter, a dollar CACI recompete including margin continues our unannounced to NSS demonstrate multiple LGS first to offensive X, Slide cyber intelligence provider focus multi-hundred competitions. acquisition capabilities expansion, This opportunity strong from combined contracts capabilities, please. amount CACI customer have ensured of cyber-related remains cyber, awards $XXX with In a to both in CACI content. on position go-to leadership generate from classified

in flow cash overall strength flexibility and a provide optionality number financial of Our to the capital and deploy ways.

we win need the warfare investments have are to These cyber, photonics, of work. to invest the us CACI customer and counter-UAS, and many new electronic market organically discussed, high-value others. among artificial enabling intelligence, continue we areas differentiating First, in ahead in

of These several companies sensitive we acquired open potential cyber are growth to years. mission capabilities Their X provide Second, include source during QX, areas the satellite specialized technology customers. intelligence next solutions, significant government that over and communications.

open-source of the Analytics, but increasing of enforcement, a companies, not for in only aspect on intelligence law security Bluestone the domain importance, intel for is focused dark also every of and One gathering. web, national

on deployment free based cash the capital long-term per opportunities remain the the on share dynamics first committed of all accelerated growth at capital front, with at on of share. $XXX we Lastly, focus our flow repurchase quarter. program completed evaluating driving our time million end the deployment We to a

As continued call that, delivering shareholder capital Tom has flexible ample over discuss turn With to detail the execute shortly, in and a Tom. deployment capital value. will strategy, more CACI to opportunistic I'll

Thomas Mutryn

and Please Thank good you, morning, #X. everyone. Slide turn John, to

results track Our us the with a first our expectations, deliver solid revenue keeping another in contribution. year growth organic We fiscal to of growth on with directly to growth start X.X% margin line year, the generated X% $X.X are in billion quarter expansion. quarter, representing of and

benefit Adjusted share COVID the program. year First ago, tough diluted a under in fixed-price materially on lower cost to repurchase EBITDA offsetting XX.X%. up margin our temporary by against X, last quarter please. X.X% adjusted was around per comparisons Slide share $X.XX, a compared earnings was driven from year's

cash $XXX collections. quarter excluding receivable First free reflecting and purchase accounts cash million, flow profitability healthy our was facility, strong

on million deferral included resulted last payable great under benefit XX Our business. the a collections days, continued taxes reminder, for in at CARES from our year performance And $XX as DSO of focus quarter of first the a employee Act.

Excluding the this mentioned, XX%. up the XX-month free of first benefit, debt to the consideration. adjusted start net quarter would from free acquisitions with greater X closed EBITDA with than been We trailing John flow flow have the quarter year at cash first down cash purchase the X.Xx after

consider us options allows we flow value. strong all drive create as capital more and Our to quickly shareholder to flexibility deployment optionality cash long-term delever,

business on externally revenue margins, record growth. Next A generate to internally metric operational and robust as cash free both expanding is focus per a strong CACI slide, as flow track cash growing and our key please. excellence, that With our well track of flow. and share is

including has share X-year years, Over share Slide cash the few by CAGR combination a investment, driven digits, repurchase. double per capital organic free CACI's allocation, M&A consistently XX, disciplined flow please. of in the past been and our

mission million of expect for high in business add We high these timing our we As and acquisitions Both fiscal X revenue modest million these area in growth margins. given accretion $XX noted, we year first businesses, acquired quarter. XXXX a close of in associated technology during $XXX onetime of invested to John costs. of the and and companies around total with approximately are the

XX, acquisitions, guidance within size the please. to Given them these of our existing range. consider be Slide we

year our reaffirming XXXX guidance. are fiscal We

continue expect X% year expect revenue to be full and XX.X%. growth to organic margin EBITDA We of our

materially other assumptions Our remain unchanged.

We $XXX to refund. in tax of guidance and expect refund the As a October cash associated we a returns fiscal tax includes half in second flow reminder, actions. our the free our filed government year, million upon dependent

headwind $XX repay payroll work. the U.S. of million revenue backlog amount tax in Slide XXXX, XX, represents in from X% our reviewed fiscal the addition, related said we we about December. will light In we deferral Afghanistan, withdraw which in decision In with approximately of contracts please. to

of backlog contract we this year-over-year, $XX withdrawal. to $X.X reduced a $X.X As contract driven revenue awards reduction, not due value billion, of by our the do backlog that strong to with result, grew billion, Even first expect billion. by to our quarter convert we given X% our nearly

strong. to Turning other remain indicators, forward our prospects

expect 'XX, the in revenue we from this fiscal our fiscal at historical For X% XX% These existing consistent ranges from around year. metrics business. from recompetes point X% year are new and programs, to of with come

turn with with XX% are expansion the John. that to X of growth, $X of have billion with the bids cash that to flow. another and performance expect for of margin under year new And over to expecting over over back In $XX.X quarters, business another nearly submitted We submit billion next robust new of financial summary, evaluation, I'll continued for that, organic solid XX% CACI. we we business. strong call With

John Mengucci

you, Thank Tom.

organic awards flow. Let's margins, delivered strong go We results healthy first with quarter to cash and solid Slide strong growth, robust XX. contract

of We invest doing and are years are positioned through come. successfully to ahead so strategy M&A, need, organically our to executing both the for customer to we and continue

create our in As confident our shareholders. a for remain we customers long-term value and our to ability result,

for open customers' Ailee, I perform questions. of I missions times. to our these the innovation thank highly our that, people heart in continue proud each and day work shareholders us. the in commitment of at am their for support to and continued to Our to employees' also call honored is every And want I'm With talent, success. uncertain our alongside confidence other CACI our let's of each you. to to and how very

Operator

[Operator Instructions].

come question Seifman from Seth JPMorgan. first today with Our will

Seth Seifman

So growth, do rate? stay kind we we of growth in into double in start move of see organic digits does to in acceleration to withdrawal, terms of -- expertise up does the overall the by we and from breakdown back is we and the have and and think of you decline between it in the that driven think outlined technology, understood expertise saw that If it's with end we the what Afghanistan. about revenue and though, the guys year, bring much the expertise going out? likely Or expertise growth toward see with withdrawal at technology the the acceleration level the this kind about very to like definitely consistent we're seem see flattening

Thomas Mutryn

provided full Seth, we this year, that expect faster mentioned grow, than and both we will growing That organic kind expertise our is Tom. give for When range. to the guidance, initial will expertise. us X% be to technology technology I growth of and

the more technology. we both growth modest So areas expect in robust in in expertise, more

Seth Seifman

Okay.

Can Okay. could XXXX. beginning, kind that? in you It guys a We're us the regard sounds -- And companies little all just services have the if some with associated Great. stand on been more now. in like you maybe of where the talking the maybe middle of challenges some are then update. labor-related of companies kind And you maybe from That those of of from some abating seeing of the bit. to good. with seems pandemic manufacturing it about update

John Mengucci

of this remains Demand competitive than and talent absolutely is different Look, Seth, it is no the past high. And a extremely it really several number And has been quarters. we've challenging. Yes. saying hiring for been the high. for for John. it's environment But remains years.

jobs look period, I were of at mean, middle a pandemic. would throughout change wants in attrition to you we COVID the down, which generational rates who the As expect.

the question as in a So a programs back. program. the and place And One to fare is, focus we COVID out as put great #MakingMoves. years do of couple next we our referral move of was number how improve forward. was of second and We look come how we do we

schools continued local, that nationwide our strengthened even of is relationships the XXX year, expand we've we not This COVID. and out our interns colleges that universities over to program with leg number only much there. throughout from past we but very third had The internship a

specifics. Some

openings now One of our is X of filled every internally.

And people working company, on new forward, that's the referral X is X around out driving their career trends, different moving hires customers. also referral. So of with a the

the I We with make So audience hard jobs to as call add of captive find been really if those we from believe it, earnings very to public about that talking year very metrics, XXX on which and to and fact already take many a hand an X talent. to that it's that interns us. focused the really myself senior didn't company, in went CEO their of back find driver certain we've

to on staffing levels of that our and So I'm a both meaning number very expertise I deliveries to to talent would on providing last because We're continue levels. that's able And our we modulate given right the technology individual different all that the programs customer. on of they what at time. captive," not our "have work and on hire say, technology workforce staffing different can on portion, that side, the we the technology technology right a specific note,

risk workforce have that's CACI's we So entire on, the hiring that down. becomes, we fungible to the deliver and more technology more keeps to our of what win and continue

Operator

from Our next Securities. question Truist with comes Tobey Sommer

Tobey Sommer

your hoping margin mix? sort what inflation, but go-forward was impacts seeing much contract given your expecting a perhaps. issue, guide, more and growth, this that Really labor what be of just a And get of perspective on broadly? on may not kind different the organic contributing but year's another to to be one, basis? may I you're wage How your

John Mengucci

that's passed highly, accredited well we're employees cases, Tobey, else as about revenue market happy technology not additional customer. times, and them. new our fact become to going bears I've look, pay for the for to highly of to and as in as -- But marketplace is at for along talent I'm I top the comment specialized what challenging. I'm That's cost everything many paying and talent are, we're and plus, to to and continuing need what hiring requires marketplace that employees, that get lot our as we many, a but glib the for pushing with mentioned up skills be said happy is certifications badges a that higher earlier, very XX% of looking costs, pay. was wages so that's going that's what saying to

In addition, we much and we flexible who talent. technology work, our to efficient our able increasing more hire and leverage in we're how be though,

really So if we the is more at look costs important than how we wages. deliver like input

people, software opening top Agile, software that So Agile comments. got and we deliver development, tools BEAGLE, can with about significantly got programs Air software many like talked and levers we've can development processes We've the award and large-scale I so methodologies. talent. my so just afford Force to fewer We that in development many make certain find

the So in processes City. Shared -- frankly, and side, we everywhere using put we on Great automation our place under indirect there, can. Oklahoma Service Center

for cost efficiency gives it lever us and So another management.

last positioned real. I'm not So running It's of It's as the there. -- obsessing wage company, I over a said there. we part It's have extremely well public inflation. and out ourselves

Tobey Sommer

places costs like perhaps today and could about other a period? versus to that D.C. the look of your area you sort you geographies? X-year grow in of different over response, or of disproportionately other headcount with may X- mix expect Do on what that Building talk in employees metro sort the associated

John Mengucci

It's we or back thanks. X years do And of accredited took and "Hey, marketplace?" as got when have in Virginia different, we Tobey, we future different and with the Northern X nation. back role. was Ken the employees it Yes, to was across to for plan the to step pertains what CEO, We a in the this point I a literally said, probably -- hire quickly both can

of processor place quite software engineers, entire X for in network put across across engineers, engineers building can to resilient so the country. signal the look we an back a digital we system aggressive X company So plan years

relevant say are where to can number sources. Sarasota, and able from We pull us down back in schools whether to U.S. New been additional areas across then So where allows story, we workforce interns Florida; a the it's to those our Denver; inflation areas. Colorado network put build Springs, Rochester, a that it's York; a different sort that your build within wage we the to of We've start but map of find can out then

worked Our a where are. customer's miles had many within of It fight proposals customers facility. needs have said nationwide work wasn't for customers years the talent to be And x our to happen customers of not us request well. as where also with of that the back our lot number the recognize that that, development for based just

and heavily come at areas, still other we're areas if I Northern So we've different in more Virginia others, well. of talent Prevailing Virginia. to anything versus Tobey, this race for add? look of our indexes Tom, multitude wage but a probably Northern the all compared it's to very in out XX-XX, like,

Thomas Mutryn

Yes. which Tobey, what I that has an would is accelerated add, trend, the nation working to remotely. is across COVID done

besides work employees, can employees direct So indirect anywhere.

opening look HR or So positions. we accounting if we an those for particular in across to nation have the fill a or person contracts, can

a ability rates. employees And advantage the to wage provides that also broader lower of take base prevailing and so of

Operator

Our next Sachs. Goldman question Parsons comes with from Gavin

Gavin Parsons

Guys, targets kind recently to given have that are multiyear a peers your margin few of of down. flat

wanted can to you at a future? the So you're of foreseeable ask CACI if if to expand seeing margins think dynamic continue you for kind that's or

John Mengucci

I our tell last with ever year, the business talk to really about expanding that. my XX we've on. talking the addressable competitors we take years. what COVID. I'd us particularly to to longer-term we've Tom have revenue each really there are many, share been margins. what you with performance, continue comment market, given And you can't months, when out consistent And financial with many to be delivering I I But has on to and each pleased is at to we quarter Yes, our meaning and will market We Gavin. than giving today we're started believe continue for going positioned off that we're tell how -- guidance faster been growing committed over

day, a We've years been got north it's for now. And like more fair So had to focus flow at Tom, business. been long-term of it is new share, share add the end which that. cash our an rate. it's per on. of anything what free you'd several commitment. We've winning that? XX% of We've been we've We've to doing recompete of on driving focused absolute the

Thomas Mutryn

we're a statement technology in is come why we we on differentiated a margins. high and is way to reason -- drive economics grow do margin the will ever-increasing technology like. kind making cost at are have me, to higher the the the technology, focus markets reason Tobey, And why technology. Yes. It's drive our will level, Gavin, confident excuse and that from on differentiated disproportionately, going And operate. perspective That that of margins. in as efficiencies the continue We

some So behind there stated substance is goals. those

Gavin Parsons

on the the Then portion it's I that backlog X% Okay. backlog write-down that. that looks a to to I backlog to this write-down is of like headwind related revenue The think year. appreciate you'd detail. larger than said going initially about Afghanistan, be

Afghanistan here works the questions on larger of one, if than X just maybe is, methodology headwind kind So not, And can booking is remind the you us expect? there. how two, you

Thomas Mutryn

Yes.

is the So headwind X%.

contract and backlog pretty look is we solid. backlog. at know The you add So calculate to awards that that's and awards will those contract we way get

unpredictable, if government a Afghanistan the a creating when contract something X, needs in value just of will. so them of And not the buffer, case. niche make it instead on or sure which we to what are having the doing in aspirational that. particular, OCONUS X some awards, various saw kind of is operations, in programs is Sometimes, let's plus you have government We're

but those billion this rate, the $X of than contracts. is greater the nature that's year's of particular run so write-down And

John Mengucci

to a Yes. And looking number forward. -- that was backlog is of years cover

forward, right time So since X%. look had and thought absolute certain just make to now. thing quarter was revenue be And this do in year go to prudent clearly it this that we to were impact we to the make of to backlog that that change is drops as area, each unfunded once we the was going out we and we backlog relook and at number at our our X for right we that us backlog what completely knew every and

Operator

comes question Matt from Wells next Our Fargo. with Akers

Zonghan Yan

in Eric think were Delta This bit weaker any typically the Yan QX. is areas others? wave? you Any from individual for COVID there little I Was your than Could impact -- a more orders impacted Matt. actually were than we get

John Mengucci

are we or Eric. going trailing my quarter, on that outstanding Yes, there X.Xx, not No, lumpy, top awards it. X XX-month which another We is right our to by I'm isn't stick decade-old of read awards of customer into award. comment should anything had number. There's X right?

and they shared I of our Every personality. and the when some their think of right on some and last quarters. one time they later. own I has award couple award don't award customers When award

that's working some happens. put of major that. And they us government see already We are its our can the little a that just that's nothing first, last do sort first haven't in. delay of won, looks we've and we day awards through I'm seen awards day quarter around federal like some than the to and the lumpy. used residual and to. to no, of just as to. going task We second to slower still are And on what colleagues out variant, But COVID point come orders that what those more It's level assuming

Operator

Sharpe question Matt next Our from Stanley. Morgan with comes

Matthew Sharpe

contracts. think, you classified John, mentioned million of unannounced remarks, in I opening $XXX-or-so your

business time, your what was the is over the that business broader called talk to first this last of or in percentage might hoping think trended least the a so? component then that the while, relative you year of I business able classified to that quite be mentioned has I how today? at that is And or you've out. to

John Mengucci

a that awards in may our last what how but together. We've year, many, that historically which a and group shared you We've Yes, that's have We the set of portion really a sort while, there's number is Matt, grouped we we and just things up that protecting have of been classified, many the done business, those of never every customers which openly. tell once I large discuss can we're look those thanks. together. not quarters we in at can't we those do,

have what to about the of types that speaks that my winning which more fact all and this share moving And really counterterrorism mentioned, really funds focus national near beyond important was is more being deal are centric, the As that our fair that of is these that spent with, security prepared is towards than we to are are cyber. remarks offensive actually should much of a to peer. prepared they should we you message well. remarks share very that awards we of where that the issues in additional the cyber can't we -- talked lot talk defensive couple into we think And about about it about acquisition is all which plus a about One, can assets. forward. space our acquisitions about, ups I plays communications of It's as acquisition. right the more and being and say do and domain, and we protect seeing as space that more in go but how we around

breakout the that civil gives nothing So commercial We out a I'm and relevant into sorry, out I mean, can't no, break do DoD, Fed you versus un. ordinary. it and of insight. classified

Thomas Mutryn

level you clearance. of clearances. know, talk approximately we now, levels And employees different a as about also of of Right clearance the have Yes. have levels. And some of there's XX% variety our of percentage employees who

Matthew Sharpe

it. Got

believe fellows. all or agencies has X. either for COVID-XX. federal employees mandates if by in Okay. And FAR at the quickly then vaccination a incorporate all to just most directed maybe I subject Council That's into a not contract the of agencies, this helpful, that language mod December federal RFPs clause on point,

seeing question when end time December risk your handle to you yet? your that any how Or you my is, up So levels? comes? And the you to do then there showing come that on is language are X staffing

John Mengucci

Matt. December states an all by Thanks. contractors Look, Highly executive vaccinated accommodation or an and fully that be federal the approved Yes, President's are to required X. relevant. exemption order have

employees with communicate our get to and vaccination continuing frankly, are status support and we together vaccinated. them encourage So to to

a as rate towards guidance. On very a within of like the continue labor we disrupt we trending a different ensure the workers exaggerating differently skilled of going force, of spread bit monitor agency And out is to We're that activities how mandate. and order first, to that certainly, then we task didn't extremely hourly market. side, executive changes then every our I executive think has to mission-critical out fluid operations. handle to I you agency I At mean, that government this -- But or think positive that Matt, out tight to reacting company. is it's I vaccination which where right, continuity of address we don't them intention display are how and cleared if tell there bone, in going to came access to situation I XX% an government get each across with and fish every sort is to wouldn't agency be that working about safety this a order are is handle this customers point, it. to facilities to

a So change today, that going are that as enough we we material been. we always to felt was on breaking what have know things changes. it guidance. transparent would based left right. also is into our Right factored it's If more made we be Matt, guidance fluid that get have we breaking But information, now, it very we're some as are

aware -- be very is something very for be to us guidance it of. of we're confident but and still with all watching So range, our remain

Operator

of Mariana with from comes Bank question next Our Mora America.

Mariana Mora

as you us Could companies please have and challenges the actions So you chain. think taken so already post-COVID about color this on give highlighted far related we commented quarter, to mitigate them? world, so about exposure defense the CACI's labor far to market. But supply some

John Mengucci

supply companies disruption facing Thank issue across an Yes. Look, you. is many sectors. chain many

around compute computing issue power. the and is For us,

that biggest with -- not So the think releases. already was tactical X meaningful large but Across in us the 'XX BEAM and guidance. slow volumes, for impacts that It's enough us to to going about be 'XX planned FPGAs. for FY product counter-UAS in our are our board, ramp-up, then factored our and

have about is. orders delays. which had need year, it our A we're fiscal we early our did the the we year. supply may we year. tell. it's see problem lead now, Look, AVT. beyond see nice some supply is issues items timing chain viewing customer impacts talk to long market, planned of more ahead issue. in that supply that Forgetting here to of by for chain levels, I last those some did of in for and too if a address We though, ordering What delivery this right we expected They we later to -- issues items, way commercial But get chain most serve unlike fiscal

delivery threat doesn't the to The still happen. So go away. needs

are put date. how date at time miss first the relook training, how install, and don't the piece, more ahead delivery electronic So we do then is do we training delivery deployment, lines, sell test that do Production shorten can off, full to that line. we delivery continuing we end training, how we time of so

in but lot our parts So moving really the in of a FPGA business. area, of portion a smaller

Mariana Mora

the keeps like is And about short this buy think when this and term? we cash goods compared QX, your free off flow affecting in leading like to

John Mengucci

the preproduction material that de one size of the on of is company, use No. I holding our we're minimis. to compared the to word, balance sheet amount of mean Tom's I'll

the have area. the prepurchased around make no, we've and things, been it's that no, work -- we the able that certain item long that extent So to lead to really

the the have of alternate we that components mission of majority the technology for sources a lot deliver. that we are in So

Operator

from with next Sheila Kahyaoglu question Jefferies. Our comes

Prescott Forbes

X% than of little I of Can It's that a in pieces the QX, year some the is mean, range. growth obviously guidance Scott Forbes that Sheila. year? moving accelerate through higher for on X% grew about in talk the for the you full guys you but help kind

Thomas Mutryn

Yes, Scott. It's of issue. to of in kind come we a some which useful have of series no programs, life. any At point end singular time,

the realizing realize time, That sure existing -- always ours at major to we same make to growth. are of few of there's that we're full of focus activities. new and And so you kind work, And been programs the win of kind a the ramp-downs of continue we a work. on-contract has potential expanding,

where the that year. across plan of really portfolio, quarter for out it's the of the the lay by kind combination we'll So

and for have by month planning we Our in and lays by that cost the regularly, that of We a year. process -- forecast. update out such kind program revenue profit monthly is

a we visibility I'll degree So that. at high of that leave and have

John Mengucci

year, this playing out. And Scott. Yes, so far, is

During at Afghanistan quarter. X% guidance the hit our first gave loose would as our we first call, that Tom its directional would impact guidance, in quarterly fullest last look take knowing quarter year's some

we're So year this we growing plan. that planned on had with quarter-over-quarter, still

Prescott Forbes

from maybe cyber, do about think what space? lot a relative peers? high level, spoken your expectations you've you portfolio that a And that around then your how maybe about to And broader are

John Mengucci

new right? against separate us to that that It insights part we focused everything something, offensive Yes. the I the mean, providing look side. structured, used of we cyber, versus on gives just defensive how cyber at offensive to side, point, If every into can do a fact us defend our some move on technology that and not we're everything, we're be an time to to at customers, is to deliverable. expertise the we defensive way

very that everything, delivered it deliver much and mission the think been only understand as and about can it, technology engaged around it payload about effect threat, find decipher can we've not as that that. turn that can in When being find offensive well. an software-defined potentially it, but us devices cyber talk So threat, hear you you

going software it's focused of whether everything it's AI, devices is and like. machine So defined the our to and learning, again, on it's whether cyber, majority tech, whether be mission software

the intelligence playing hand at clearly, as world, one DHS the about we cyber Trust we and see without we of that as in the really are civilian Zero In And folks talk very that work. the we're can't architecture Department the like talking being CISA well. of out. you there, the on look community, federal about Defense few that who So building

to are the the like further growth the have. folks credentialed and just really hiring business we So tends that the able are we in like coming book highly and be drive -- that folks I of fact pour us further to the cyber CACI, domain. within that

Operator

concludes to for like closing call our any over I'd remarks. question-and-answer turn John This back the to Mengucci session.

John Mengucci

webcast you your the call. to today's have many thank you for would for or thank will like We Thanks, Ailee, listened participation. help dialed on We of to who in everyone and their Price Leckburg know concludes and best George and call. to families. Dan have Mutryn, my This you today's healthy, Tom Stay our questions. are a after available your call. all and and follow-up you, Thank day. great that

Operator

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CACI International (CACI) 28 Oct 212022 Q1 Earnings call transcript