- Earnings call transcript Q1 2023

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the CACI International Fiscal 2023 First Quarter Conference Call. Today's call is being recorded. At this time all lines are in a listen-only mode. Later, we will announce that opportunity for questions and instructions will be given at that time. time, to like President Dan Relations CACI this conference turn of At for over call Leckburg, International. Instructions] I to would the Investor [Operator Senior Vice sir. ahead Go

Dan Leckburg

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

are slides. We providing presentation

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

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

open Let's turn Slide our three, discussion to to this morning. please,

President Here's of Chief and John CACI Mengucci, Officer Executive International. John?

John Mengucci

morning, MacLauchlan, Jeff who on November me morning and role is this President joining Good us our fiscal With results. Financial assume to Vice everyone. Officer will for Dan. Thank you CFO of quarter Tom Thanks, XXXX discuss X. our the year first Senior Chief Finance, Mutryn,

Tom plans retire has XX after years his in know, dedicated to of to all you CACI, service As January. announced

together. to execute pleasure uncompromising I And I our as our on thank have For his financial do for we've a I right, depend customers, the to dedication deliver ongoing shareholder you'll we to Tom, Jeff, strategy commitment what's the contributions make our leadership lot unwavering quite Tom's communities. to and accomplished employees, last to had you the and continue value. And acumen, years, great his always your forward welcome. CACI, our and XX look

Jeff MacLauchlan

to very happy I'm John. Thanks, the join team.

great growth the watched forward profitable cash Over I've and flow. and continued to success respect. look strong us helping admiration deliver CACI I years, with

John Mengucci

on performance first commentary, please. and profitability business with X% year. additional strong. awards, then fiscal to $X.X and growth quarter CACI. our on in Thanks, external fiscal cover flow both for trailing now cash over for I also the XX% technology the and financials. night, X, the Jeff. were and to And environment. to start results to shortly. strong call is than And provide we am Tom basis. financial month XX revenue turn the contract more to my the our will released X.X two a X I'll new year details times a book-to-bill that expertise grew represents won Slide Last to our billion quarter Slide and pleased XXXX. We That turning we times which of Tom please,

long-term shareholder cyber IT flow, and robust defense, budget growth to see expansion, spending strong CXISR please. our for remain indications and there Prospects we positive. value. XXXX in priorities. for the areas demand This us like Security. not support clear. is through is continue that are the appropriations under CR national clear the look strong margin we digital space. a operating see intelligence X solutions, sustained modernization perspective, backdrop are ability in And and enterprise In we of a the bipartisan year security years. cash while and opportunities favorable What and gives fiscal term, in out several customer timing over compelling government From immediate Homeland As drive Slide is next and we to mid-December, confidence and

As of head our the customer offerings. us need to in are you've differentiate the technology past, we investing on heard focused say

recent space-based many a with very capabilities as high of our those compelling OEMs LGS to capabilities delivering long-term space customers. photonics The examples include is growth SA opportunity Some Photonics. and most in for and acquired in these already we programs. government And for we successes our capabilities the priority customers, supplier to a through are domain, directly other investing are photonics where on

sensing We or other are space payloads. seen the like government Assured major technology and investments and laser space-based also in technology, Precision to already demand LiDAR. prime agencies invest continue from Navigation Timing, to These R&D in remote

a key investments CACI invest technology software a we software to the national that workforce, great priority. software-defined a pay agile to with provide modernization a our an Evidence continues selected manner to is our one support and recently realize defined off. legacy defined networks Turning value requirement. in of cyber deliver U.S. to defense, capabilities Space offerings example CXISR, to the priorities. Force. need ability efficiency increasingly a to in applications was broad of IT available capabilities fast, of data. Agencies range This for critical these to support continue Leveraging innovation improve is everything modernize The enterprise dispersed and consolidate strategy to and advanced

will this This entire of management program, the States systems foundation enterprise future processes mentioned infrastructure CACI such Force, deliver example investments automation are leverage as in the recent Juniper. and $X.X will providers of I the earlier. in billion is Under by contract IT-as-a-Service we commercial as IT across AWS differentiation CACI all the Here code of service investing UiPath with Air well as at repeatable United enterprise Wave IT award and as technology partnerships department ServiceNow waves. X Force. great A program Air processes, key for

collections, we've technology AI-based intelligence and their better we head investing a to vision contract recent differentiated an the community, within buying addition A In CACI's example expertise Through efforts. the customer computer the software, offering our customers. analysis demonstrated where to sides, investments solutions to enhanced both reduce earning need, invest award customer in bids, and also was of our value expertise technology. how we to realize provide our intelligence mission And by and was support with make margins. cost. and and we realizes on a our benefits efficient, repeatable the we effective leveraging customer people dependency reduced This in a labor differentiate valuable requirements labor and of customer offering reduce benefits more can to overall better and our capabilities market constrained made

to the Demand environment bipartisan examples budget positive we remain security for the for results not In on are our is summary, All and but proof grow support first we modernization of positive, to only priorities. technology enhance quarter continued these also strong track are strategy business, our delivered working that in national full year. margins. and

between synergy and We in technology With strategy successfully executing win that, need to turn the I'll to our are the invest and leverage ahead marketplace. of Tom. call to expertise the over

Tom Mutryn

morning, John, everyone. you, good and Thank

for results, innovation. but in Before shareholder I financial I worked of and he thank John his our many over successes. years to culture provided and we has want kind safeguarding strengthening turn also Not the take have to in I integrity and value creation, performance our only support strong pride accomplishments our together. and remarks the many the

and the come to are great customers team. our to that X our And the of is knowing With our CACI employees of from and part Jeff wish I I that come. the value team I for John rest this best the our every yet let's and operational turn please. am have grateful been their dynamic build Slide excellence we a deliver truly country. We company for CACI to to and to success. to retired and careers, place results.

to start in fiscal X.X% is of X.X%. quarter year. the representing $X.X first strong revenue a and We of overall generated the of growth Our organic quarter, growth billion

earnings share year was ago, profits. please. was up adjusted Adjusted by XX.X%. X EBITDA First driven higher a X% revenue per Slide and diluted quarter margin our associated from

diligence receivable accounts First profitability reflecting flow DSO quarter $XXX collection. with X.X of months represents strong a facility which the day We $XXX was and million at cash adjusted trailing record Free company. million and debt the to healthy operating XX low, across recorded was flow our and purchase times. excluding work quarter We EBITDA cash XX net cash for quarter. ended our hard

have capital, manner. to X, deploy modest our flexible opportunistic Slide fiscal strong access a Given our to and continue capital year cash reaffirming in and are to leverage flow we profile, optionality significant XXXX we guidance.

both We technology. expect in revenue growth X.X% expertise to X.X% and and with grow between

We expect the our in acquired $XXX revenue million to mid full and about range. will margin of year be XX% high EBITDA

XXXX higher we a expect to be interest in As result our higher $XX million, forecast. year than fiscal $XX million around around of interest original expense now rates,

underlying of our flow Given we net guidance. adjusted maintaining and cash are income strength business, the free our

Act. CARES the a under repay payment As of final deferred payroll second $XX we in reminder, to taxes the make will million quarter a

discussed, modernization around be deferral of remain strong. Air absolute based million would to That more code We as known value won Force operating expense. the Section scope. forward of headline the Force even Recognize this our tax please. the addition, to cash XX-year represents IT-as-a-Service large relating the last indicators, drive prospects of during only not the X% our the additional over of that includes Slide year. In XXX difference for $X between and XXX to period. award $XX occur, The contract to year. on driving repeal assuming we've are currently this the the backlog impacts If approximately amount. and Continuing previously or Air timing opportunity compared our quarter, innovation from to awards taxes, enterprise cash flow R&D billion $X.X the growth billion of does Section not XX, we lower

year and to programs, new XXXX, from from fiscal we our come XX% of recompetes from business. existing X% For now expect X% revenue

for of that XX% nearly We over expect that, XX% new $XX X CACI. With over back to John. evaluation, call under of I'll billion with quarters turn bids new submitted which submit with have over of business another billion of bids is the we the to And over business. next for $XX

John Mengucci

Tom. you, Thank

fiscal to delivered awards. go a our was XX, flow wrap strong start To contract profitability, Slide Let's cash great and to up, growth, revenue We please. year. QX

We additional have opportunities. a of robust pipeline

long-term remain expansion a committed margin and returns and flexible growth Looking forward, capital while those opportunistic we with strategy. compounding to deployment delivering

of flow the long-term. driven a to by cash commitment this is All grow share per free over

do I'm for our each case, you that, the innovation everyone continued CACI. And Alex, to talent, our your commitment. employees' As I nation. on proud our let's success our you of our by is day driven the is shareholders, team, questions. company and and always of for for open support the every and thank what With CACI extremely To call

Operator

Thank you you. [Operator Thank Instructions].

comes from Tobey for line Truist Our open. Tobey, Sommer from question now first your is today Securities.

Tobey Sommer

is frame laser business today and versus what I photonics some may term, garnered in profitability the of dig you you. over you. recent Thank and wondering your could a sort if was it that into Thank little like acquisitions, what and if level the you medium look opportunity size bit of via successful?

John Mengucci

created market Look, thanks. shareholders really our for and position the with as well that Tobey, as within we're we laser for happy Yes, communications. in ourselves photonics the

have the - missions. are units of We and planetary that space our what in GEO the I production involved are different bespoke A in couple in one ones. call several types are would

have mission. laser And complete here. optics to We've devices. be down of view Artemis lot scale something factor the produce are to We a pounds from terminals got on We're just everybody the to headed that and and going laser a we're comp volume on. give about of is higher talking manufacturing to to modems what and anywhere build are moon a capability starting that high-volume on grape that XX satellites heard optical LEO is, to fruit satellite of satellite size the terminals And those able to the that constellations proliferated form at then side cross-links. we're looking - as has part small

XXXX in you're activities. We investments larger-scale are so all the a we're involved, most, or capabilities support production also important we're is imaging help making, last there. I production and contracts LGS facility off those year we SA programs. our additional then The we and CRAD are the CRAD Photonics, whether number with of timeframe. state not can And purchased that opened still of Florida. activities And your looking markets. to OEMs partnered capital why when some part this market more fiscal we're We second up making question, XXXX in satellite we new of the Tobey, extend DARPA in growth to that material today, We've investments a of at if talking that's in mentioned, have taking as the

planned we've right positioning the Photonics I is are one, where in in So in way and SA the LGS the like photonics of it. we with line and work

Tobey Sommer

interest for And that trajectory follow-up, time. rates as a leverage expect will clearly, in influence a interest growth yet, M&A kind of bottom higher seems to? it sort my influencing of Thanks. for it valuations, is higher market I'd if - changes it - allocation? all, like influenced question of about available line at in the the the your it ask and of expense, do if How hasn't to financing you is How capital period and

John Mengucci

Yes, fact that always about use talked the not M&A over our number we've talked yes, a Tobey thanks. our capital, we've but important Look, of very as only one. is of the years,

capital options time. at dynamics the deployment all on evaluate to the based continue current We

acquirer. continue right to disciplined long-term and right? the always additional M&A the is give then capabilities course, right at focused, Our strategy We're right look that different us driving find relationships to strategically of us the We're or target culture. be We're customer for going growth. to that to with a areas always looking going allow price

side, the us a way materially pipeline us? over you for as looking pursue to but gaps. last talk a fill quarters. little the from we continue what and rates to at been M&A to it bit changed On want our preemptive hasn't how It's do Tom, robust, positions strategy really M&A discussing the about always few we've not

Tom Mutryn

Tobey. Yes, Thanks, yes. yes,

do at would expense on interest acquisitions. we not our interest higher So rates around say quarter, average our look first a impact was the I material In the that X.X%. - have way

think proposed decision that's at the is a cost, in slightly historical a But was capital and point any of again, value I economics deals. time. than alter of maker weighted still actively higher to hurdle slightly that long-term don't going period but kind materially borrowing present to not of associated higher that's but Now average rates cost ago, still with We're it where it. and this higher, a year meaningful

Tobey Sommer

you much. very Thank

Tom Mutryn

Tobey. Thanks

Operator

you. Thank

comes Our is now next open. question for today your Parsons line from Goldman Gavin from Sachs. Gavin,

Gavin Parsons

Hi, good morning.

John Mengucci

Good morning, Gavin.

Gavin Parsons

Tom to and And congrats Jeff.

Tom Mutryn

Thank you.

Jeff MacLauchlan

Thank you.

Gavin Parsons

of Pretty and you labor to in just customer environments budget update terms good kind an start on wanted the just would? if environment, I bookings. revenue and of get funding

John Mengucci

very say the years, let's and Look, always take few Gavin, all Yes, heard first. the so. have been challenging times. it many, It's and you this many market hiring for me remains past

plays because at we As I'm of handle call how really hiring, out. going how look cost that's we and labor to it this the

right right specialized paying the We talent technology for with top are with skills, certifications the and clearances.

to and hate pay say, to as any - would. I very top for happy So CEO I'm talent

only We appropriately, and are force. fair tracking that of sure work the does market that for making lot able of and CACI, we talent not been are way retain our we've to amount folks to a attraction the also a the for coming paying but

cost really Now avenues our different those additional XX% two labor for was revenue have us. of plus. costs

along and us to So brightest there, higher brightest, passed get customer wages the asks and do our cost. the best but and best find that's customer, again, the what to

got that to generate keep costs avenues we've labor But right is still we costs. for many XX% us check the and those allow in higher to margins to other The need. susceptible us

is first in revenue there in linear thing head to on the XXX% it's nearly revenue area of our count where business. necessarily not The our focused expertise Half labor. is is

pay who other is write the portion how labor we're them. we get rate going the The side to hire on technology reserve to the going and categories, where we we're full to

call. very And what still as a chain security budgets. We out fortunate. higher super been see have And space. many, We've much potentially the I also is terrorism what I've peers call other supportive out a as you I to asked Look, national hiring world there. say are looking see near supply is the software said with continually also well. Gavin, in budget. there power. We're so issues much have for us there, wake-up more the efficiencies dangerous very, we there for some counter we the I productivity, place. deliver many as about is very times, well. we that But allows and out China, Ukraine lesser capability is us, It

a continuing We are into under resolution. year fiscal another moving

- increased 'XX in lot peer and that's And the Gavin, defensive time, looking anywhere the us of an our we're detection today, the spending from to that is at INDOPACOM We're and play And near within community, intelligence IT awful future. have for have into and great role to don't some going said solid defense largest immediate going budgets. We're of within in intel heading defeat going modernization to very also tech. analysts and to SIGINT in from So cyber DHS there's a but one see that, - provide we're foster. having FY have we appropriations space. spending to

in a into some all, very of - the a at reasonably are hiring pressures. all and we the So good solid supportive budget how heading and look

Gavin Parsons

Got it.

has those environment improved? Have moving you marry of quickly two If awarded? the the labor customer, stuff they for more your getting on been contracting officer

John Mengucci

Yes couple supportive customer, I funding varies customer our and have type Funding, mentioned own And very award the that received of of that first right? 'XX continue on normal that, I've will plan. own think we the last it we believe FY and calls be forward the D&A. their of by awards we in funding I mean, really every their quarter. has

government knows much the extremely of work the working On look, contracting agencies that, do. hard. an so issue, -- those can they're in there's that the there's end side, at officer But that everybody day, the and all only is

we've frankly, seeing awards are way Gavin, out, pretty come We much the expected.

again, days deliver award believe XXX are. the always customers, some that after they have we We

we our plan. into that put So

to to officer On the tough. contracting side, going it's continue be

We'll the by sense to a wheels, issue. make I'd maybe the the a makes and people middle get also at to to that have, to some normal. some that year better. where we fiscal point our COVID throughout tough to of like Thanks that have gotten can that of all place also Gavin. point, we see you'll hiring that receded a think 'XX, impacts persistent back hope I

Gavin Parsons

Thank you.

Operator

Thank you.

next is Our Fargo. line comes question Akers now from open. from your Matt, Wells Matt

Matt Akers

thanks and good step kind to role, maybe as Yes, as just as thoughts Jeff, opportunities if into morning, you priority just your of over? initial the ask, the wanted biggest CFO into could, step kind and congrats. I you And yes take season I of your maybe you as

Jeff MacLauchlan

I'm here, your again, I To team. be question, myself, for say changes Not to working I excited that Matt. and this question, the with to look shouldn't Thanks John the transition. you but repeat to major really would expect forward really and with

I a place the in delivering a is evolution. company of And for job done years, to has spot, in growth, a making particular, lot The and great capital you great over great current situation. think a of for improvements. expansion. think look I ought we're in margin the structure, Thanks. refinement Tom the kind

Matt Akers

if guess Okay, fast could you bit thanks. win, from is pretty then of talk actually how I expect that up a differently. revenue big. headline should of kind great, talk I understand - know, just little I on ramps I contract about we that ask IT-as-a-Service And Can about could the the what is kind you number that? contribution and

Tom Mutryn

a work businesses on not be as Yes, CACI value. thank prime. who Either a will large there's that headline - some getting in to very you small flow portion of should

of adjudicated our contribution into business we we it up so took this factor you as that ramp $X careful into what billion kind FY timing anything, in - ranges plan, we new - of to expect When protest, of why with was going the look take together, we put under if 'XX. The us number, a some was is awards. and long of award take how not business, books. in you minimal be So in putting plans for you I'm the pending, variability a knew of reflected were which be And our guidance of at up our appropriate we It's one would kind will to is clear our time. the because reasons to going a that's like. our kind to came not know. have and new

year us a more So I 'XX for ramp to FY get would role. into up meaningful look next to

John Mengucci

with of show also been them of to I'd Matt, talk the possible across They to goal Hey contracts. our been we a this somewhere add, duration, we this States three-year certain a has to extremely about - about is goal taking higher-value Force. longer investments this larger could to that and making contract. road of new. Air and proud customer, art quite selected two When the John. awarded sort this have it's But large have We're consistent and win long-established United very

the repeats the we're in win programs, another as as not have in was the program to bid just often service-wide less, strategy us advancements in this it's which we as do we - build-out are jobs recompete go network So means stage other cater that bring after size. working, can was, just that BEAGLE stepping Army is that It the technological on as more, larger been. allows the may that

for So thank that you question.

Matt Akers

thank helpful, it's you. Yes,

Operator

Thank you.

from Forbes line Scott from comes question next now is open. Jefferies. Scott, Our your

Scott Forbes

Tom, Good morning, congrats. guys.

John Mengucci

Scott. morning, Good

Tom Mutryn

Good morning, Scott.

Scott Forbes

You've if of portfolio any domain? in space, today? acquisitions recent a today Is And about do moving provide do reaching timing investments about the the think into lot think made profile, that the get kind bit the you talked inflection being to Thanks. are space some of we you the I when that you've about mean, about more return color little there? in up think really investment just can there you curve that. of and how done a the about point

John Mengucci

Photonics. This And take thanks. space to when And it of year need. 'XX of is I space. 'XX and that time. spent as APNT perfect doing customer one the optics, amount scope work so we purchased repetitive. because want XXXX of don't to those be in fair within dollars we SA we're throughout well space. even LGS. a a investment awareness, of our there's broad of We're acquisition fiscal CapEx And during back does looking investing upon definitely situational But examples fiscal that at Yes, looking we're of look, year beyond Scott, we're looking ahead at do have to

With both largest are LGS the space-based the of and we provider acquisition and the like. Photonics, photonics, SA of optics U.S.

So ourselves and going to investment of our that us for than spend position higher to fiscal to. throughout XXXX. is a gotten 'XX into When we to amount year continue tremendous We're a have see volumes work there. up, we've whether area. pick about all is involved Scott. This lot this SDA LEOs - OneWeb it's Amazon, proliferated constellation commercial of heard or other within the We're a normal in

going on we've We to done. focus XX least the see side. takes. you're so them. cut at those for years, then we've take Frankly, work So us incredible side, more of the types and algorithmic the understand We've in on manufacturing working some harden to already area it that understand them photonics commercial then and wireless and qual space XX move we space technologies how technologies of to what been

topline focused. We're to lot we've will been So look, well. forward here. going to investment towards get do businesses bottom and line looking on lot grow we when to margins a Margins, there's 'XX FY and These beyond. a pushing of as

Scott Forbes

That's you. Thank very helpful.

John Mengucci

thanks Yes, Scott.

Operator

you. Thank

question for Colin, line is Canfield Our open. next Colin comes today Barclays. from now your from

Colin Canfield

debt for the looks as similar you've in on rate versus previous of deployment, an ahead think capital stock Thanks Appreciating Tom. is ASRs. about Congratulations, guys Hi, quarters to Circling ASR secondary deployment the material And for pay capital attractiveness somewhat potential the the but quarter. questions. How down, do the done capital offering. for environment management aspect. good for what not working back in you a morning. the

just I on of hear the stock. your perspective to So kind want

John Mengucci

recognize to needs, proud increase inventory that. me let internal X.Xx Look, at of start in and We've that tech We extremely like. been our in right? mission able around CapEx spend the our increase support we're where sort of businesses to leverage. with that, spending, invest we're levels

on all off, going M&A don't value. to M&A And to use we where purposely all to are the frankly, at table at. remain We work. word drive and be the and is opportunistic. investments shareholder that and options on many key So options. looking times, balanced. going and we And it's the We time. the say love we're dynamics internal Also like based evaluating flexible options We're the repurchases first at

measuring valuation, investments. key looking our also consistent mentioned is then a We've a in prepared which vision, focusing looking continuing and at and shown technology remarks. success where off a line BEAGLE, Agile award valuation of and top multibillion-dollar market, my We're We're bottom talked been AI-based growth. we capital You the clearly. as that item internal in on as development lot in areas. about is long-term computer growth the software line it And I watch continue in invest for to is bottom Counter-UAS, at us won us. top invest we're And to there.

on again, all So options are the table. Tom?

Tom Mutryn

here. I'll Yes. And asymmetry information Colin, make the point of that there's

may we and capital. at thoughts different looking our opportunities. of in how have should pipeline levels acquisition deploy At some any at our of leverage about looking kind time, we have CACI, point people kind So looking at just an

are said, at look inform we is highly and deploy on always to may we to helps underscore And that will level. be be kind of at and real-time Some how judgment I management ongoing the what that this John some probable, may but our company level mix board those as basis, our remote, capital. a something the both in

fact imply that very attention this So action close matter. important it focus ours we're careful to it's does not paying of not that very the taking not we're appears and a key any

Colin Canfield

of John, to talk can more some and scaled strategy? your if respect that lessons then you've about, costs of Lockheed production margins a And maybe it. just Got hardware learned to with from you switching kind managing of

John Mengucci

team the our me, important Yes, than far have Colin, is NSS sure. Look, organization. in more that we

It's at believe As go. market thing to where a team strategically one our we to I journey. and take senior began this leadership going is the look

Brought got of and the I in make is all areas XX a where worth to that brought focused just their folks new to this us the tech, then in is really years' what that in from on allowed to second and technology Have in. frankly, majority the what experience. about government long-term optics spend have growth it most I'm It CACI to in where fist level the our sit So primes. apt major production strategic can to is drive get manufacturing the of that will within more again, folks side build a business. dollars on also line company, XX

one [indiscernible], second have Florida. built the we line We line in out

timing under It's do frankly. don't the - Scott have really are do what what we then looks we and to You what And in like, understand company asked think with that good somebody bringing frankly, then investment asked of without I - of thesis. the size a people invest primes it's investments. another contracts optical earlier, and many indication out right, the there's of these new we some the imaging uses involved that some fact other with are in there that was for so the start The algorithms there's like.

talent. up, system system it a got some wrapping supply and all talent chain grown those We've MRP we whole brought create really in. a of an chain frankly, good to, internal So some We We've in had supply areas. great group.

Mastodon thoughts came that the level, from we smaller some but companies bought others. of Some at quantity AVT and a of and really other good

thoughts. innovative So us great they brought some

now scale we're the when primes sure not from part from I'll time I'm we've stress created So - the right I'm to but team, the that that comes. folks very able actually great got who are only making CACI. that smaller and some companies the team confident of big really

Colin Canfield

answering Thank you question. for my

John Mengucci

Thanks Colin.

Operator

you. Thank

is for Stifel. from line your Bert Subin from Bert, now comes open. Our today final question

Bert Subin

I'll And to Yes, thanks for my question. echo and both the Tom congratulations Jeff.

Tom Mutryn

you. Thank

Jeff MacLauchlan

you. Thank

Bert Subin

guys Did think sort as with just quarter? thinking in significant side went environment? Do the change note of improved maybe should growth a traction you strong the about September. current continue in revenue your O&M XQ environment, pretty in you through the through on revenue the So outlays steadily that you CR

Tom Mutryn

Yes.

government they somewhat government, business, of expertise So issues, there's level. pay one is is portion outlays. I the funding one think to kind we our we have work, our of in is cost. your them, a good steady A that And On charge we revenue independent is there very two and employees is dependable. come and revenue fluctuations of

kind time, tied and of of hung And shorter year, something some John up of in mentioned, given have levels. of we referenced officer those where At our does normalized quarter kind us. purchasing hitting steady technology of do, point watch carefully guidance some are that - the that in as for we the be cycle and a the last funding $X a this million, kind that not government mission of first of associated challenges was we We we concern funding, be appear not Again, levels kind got right activity. for generally at are, the $XX of in funding to worth major some million that with hardware headwind programs. $XX In where latter but numbers. types may of part work to now, more in million, mission contracting our technology

Bert Subin

I that there's Tom, on-contract some imagine maybe to tends appreciate But business steadier. the just to part clarify be that expertise outlays will of. a be it's think growth guys I to there. arising, think you fair I

just to right direction in and were I'm trending given get guess results if versus at CR. October, CACI, I a I September the has that looked feel July into continued for for So trying the

Tom Mutryn

we would a as some seeing what funding terms expecting And seasonality a and I in growing increase we're - kind recognizing and fluctuations. after both of growth that a in go of company, in steady kind we're say quarter of to of growth that - forward. support quarter, there Yes, and we're bit on-contract continued see growth that a is

John Mengucci

add. Yes, another have in out 'XX the different got FY of we a calling Look, don't our as CR, are we some upcoming. factors. the well, those Look, scenario, there's also assumptions We operations Bert, you're yet. multitude election of I'd many in of that does reflect guidance

But whether another yet a year do for long and situation. to would growth I government to that with KO the been is have ourselves or range, meetings recent our people ability there guidance along CR, We would the are all numerous organic all I the like pending from can see then you sitting side in, expect out that that everyone threats us I've also more tell to points believe that I in think the we at that. on government understands there not move

to to as a security budget bipartisan supported come again, So believe well that I within the effort. 'XX our guidance. very year - large when the fall us National And support their out - and is finish do as funding outlays

Bert Subin

just Okay. Maybe of space-related of the line sort to color. the appreciate with up I follow questions.

Just of domain. for been space of sales give some or view of you think Can business but optics you any something products how that space-related, the context, or been your I the has there's puts of is that I variety XX% those along high-level obviously, lines? know less sort of a whether area growth, be big a much think of

John Mengucci

of analysts. processing majority great got in. it. in talk that is relationships we way in CRAD in getting is But Yes. on individual there. a done let primes space the the that. we've lot the right the involved optics. a areas satellite doing U.S. the other path. reason through We an we're of are place. The space-based business [indiscernible] about in, I'm open we we're We've the position on go post very down we the we do after provider from in like the I'd know doing of coming line world why all that in not this and some of very we're areas offering. I like got the the rest feeds There's outstanding like of ground because saying with great the lot can't down position job. of an satellite ground that are out that leading a We've station focused that efforts rather confident what We're line our that That's that of

it's on overall, you to where that to give hesitate base. always for based percentage I of But So space line understand because investors. draw tough do our

the We are upon with and and to to - in been are these spent spent, the right dollars the where assets. partnerships going we right primes right larger the have continue have be areas are

technology, our riding of on. be we'll All

Bert. thanks, So

Bert Subin

very much. Yes, thanks

Operator

you. Thank

for further have today. questions We no

So that concludes today's conference call. Thank you all for joining.

You may now disconnect.

CACI International (CACI) 27 Oct 222023 Q1 Earnings call transcript