CACI - Earnings call 1 2024 | CACI International Inc

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the CACI International Fiscal 2024 First Quarter Conference Call. Today's call is being recorded. [Operator Instructions]. At this time, I would like to turn the call over to George Price.

George Price

morning, good and Brianna, everyone. Thanks, Senior I'm for of Relations President International. George Price, CACI Investor Vice Thank us for you joining this morning. not this We're move providing statements that under in constitute to let's fact do call Slide X. There current as presentation will be forward-looking slides, such address historical so and law. statements anticipated. as today cause to results our are reflect to subject from statements These of important our actual differ views and factors could materially that described in factors listed are press the release of bottom night's company's are last the Those at filings. SEC and

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

to Let's here President John Mengucci, Slide To this International. discussion please. Executive CACI morning, turn open is of John? Chief X, and our Officer

John Mengucci

Thank George, fiscal 'XX our results is our good as Thanks, Financial and year well Chief me as you morning, this our quarter for fiscal Jeff first morning guidance. With to Officer. 'XX discuss us joining MacLauchlan, everyone.

now years did, previously CACI, taken get as as job Investor fine we and the his he the executive and my position. us My to George Relations both company. and role to a experience deputy thanks elsewhere Relations congratulations who Dan X analyst the many sell-side executive replacing for Dan an Investor as I started, you, George, of significant to brings for and Price Dan Before Leckburg, has leads for informed who in the

and fiscal value first we results our released first were our X, Last actions I'm say results with please. for let's creation And results. Slide in the So model. quarter quarter directly with 'XX. to first our move aligned pleased our that quarter that, to year night,

investment of per drive and expectations, working Against EBITDA, is cash $XXX growth growth, and organic As growth, that of deployment. we a combination capital of flow exceeded to long-term profitability, repurchase built million predictable model is flow in capital our $XXX share we've discussed, executed elements, continued CapEx, by that free delivered revenue value-creating one management value utilizing organic efficient share supportive a we prudent revenue million that of and free XX% opportunistic cash those program. creation

contract of addition, awards of half awards, X.Xx we but basis. well. strong were CACI, performance which months our and to on had a than for on In the book-to-bill won $X.X a our trailing for work we represents recompetes X.Xx quarter as XX billion More new

Our first shortly. Slide quarter the performance need opportunity many our provides about guidance, network and please. Jeff provide AI, for We've priorities, details modernized to opportunity significant and a CACI. for our government Cyber raise a and long-term of 'XX are year Secure, X, CX. Gen for talked will us foundation modernization networks being the required elements critical fiscal financials including the

the and to develop of ID modernization innovative both Technologies. have acquisitions via invested and organically We LGS capabilities, network

billion $X.X awarded network broader our had beachhead result, proposal. a of modernization incumbent. visibility customer established We contract increased DoD community community. and a modernize for We to long customer, We displaced valued we access intelligence technical of this the intelligence around intelligence critical and the rate to a entrenched new with support at the highest network we were major X-year up a missions As world. an the to across

leveraging one addition, is solutions a specifically In million our modernization or just technology. $XXX network of win. notified we CSfC for This classified were commercial DoD

of opportunities. additional continue a We demand modernization network to for and see pipeline healthy strong

capabilities, the in enabler million the contract importance $XXX has awareness software and have X-year value systems continue with superpower. offerings software most continued our These Air Force. to maximum and of and providing a that market software as CACI United the Next, development for you've demonstrate to today. States ceiling emissions, an a heard we software-defined space support open led is customer the building mature, of to discuss to battle advanced us of capabilities award systems the the software engineering to

that increased In being is with software-defined unique electromagnetic of to to signals quickly of an deliver marketplace. same Program and our supply software-defined software-defined selected addition, electronic in continues offerings and of spectrum Program of deep enduring critical are signals We're offerings our capabilities, priorities. Slide identify, to record fast, These the enables innovation our understanding our to manner as areas in interest. and please. well particularly evaluation Army another soldiers of to geolocate successes a technology, warfare. signals evidenced This support the coupled of by the in technology the our to CACI differentiate adoption intelligence and great for seeing detect, agile market of Army ability X, security national dismounted examples the as defeat

we're in work, and on to in the new we large year. fiscal executing excellence winning addition with during In last X -- announced awards performing our

with Let an update. provide me you

Both IT on up contract service enterprise desk our the our Enterprise to as is and before both year-end track 'XX. goals systems for with to support support Force the as-a-Service program -- these operations additional up or existing financial of assume stand Air EITaaS milestones accelerate our FY for half our of year. of track of and second actions customer ramping our First, planned. on fiscal day-to-day We're

Cyber is of Intel transition the large our NSA progressing award and well. also Next,

our show to and our superior receiving from We continue value the technically executives. feedback positive proposal of we're customer

need. because great an ahead hit is Program customer of our technical the environment running we've requirements, with we off Even ground start. Finally, invested a complex extremely and Navy to Spectral

is with a We Navy our performance. pleased the with great partnership and customer have our

please. type open X, program requires. Slide heart provides For Spectral at the architecture the capabilities of that the the vendor theater, breaks -- ever-evolving that lock an INDOPACOM threats in the is the open with built fight speed Navy software of and

macro environment. the to Turning

process which we most of are addressed of guidance range. most believe -- fiscal monitor we're which a to we believe the closely. budget continue number prepared of We year our scenarios, 'XX for within government We're

have government electromagnetic please. a Customer by is enhance demand areas of significant pacing elevated many modernization and place CACI the only capabilities positioned As including both opportunity efficiency space broad times, our the enduring driven cyber, events for remains demand view. environment, to recent dangerous and in key the world and of adversaries security. global high, remains the intelligence. Slide very threat that and we've IT well the confirmed modernization, in X, spectrum, said

meet security needs. and urgent As national company, a their our customers trusted most rely critical to on CACI government

requests when budget purchase network We're to delivered to respond delivered before that just cybersecurity our to recent able to next the the in fiscal we opportunity was quarter and nearly first ended. slated year million material with and of million licenses rapidly of quarter. million $XXX requests $XXX uncertainty, Given such team received be other equipment, another material and our arose efficiently these government proud $XXX an the

Excluding these material growth purchases, X%. our organic was underlying

deploy our summary, in the growth call and successfully invest and in per I'll winning quarter Demand to is the and to manner 'XX great a marketplace, were We're build results year address drive value. With to to turn of a and positioned opportunistic customer strength free our start. off cash flexible strong, fiscal need priorities. and shareholder signals that, our In a key to share capabilities executing to first strategy over healthy, and we're result, to as capital ahead well differentiated we're Jeff. financial leveraging we're flow are

Jeffrey MacLauchlan

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

related demonstrates revenue The no this We is million the government driven approach to business growth as strong Our average across years our and X of 'XX ahead generated X% was to awards the year. essentially remaining first John the the fewer over described. healthy profit. of that an all-time quarters. fiscal purchases, we several quarter, our further effectiveness opportunities execution This $XXX our the start our over is growth pursue extended A on activity drove quarter the strong by to X% larger year-over-year unplanned invest of past of strategy of awards success quarter, high. Slide which of customer the XX, to duration indication a of performance fiscal billion of material in of capitalize please. which the need. and weighted year This $X.XX with just about was

drag underlying profitability count $X.XX our a a reported reflects interest operating per basis were higher quarter margin Higher expense result repurchases. EBITDA provision lower unchanged context, a the of mentioned. earnings share strong. and as year. diluted XX was of the from material from our higher Adjusted prior volume points share First lower is that by I offset In tax income, of just share

capital. XX and million, days, strong excluding year's quarter account our First to last that was solid sales $XX for $XXX outstanding Free as cash X days flow cash working Recall year, authorized of program. Board We low efficiently receivable please. share above flow, reflecting a day collections. record repurchase reported our cash profitability last continue we quarter. Slide $XX was million purchase just million operating facility, XX, manage the

With capital we and 'XX expect and business, fiscal to shareholder opportunistic our essentially discussed be leverage of higher $XXX volume between first provide our are dollar even remaining share, cash deployment. additional of material this latest characteristics in optionality. remain flow in which to all the earlier. our we model billion billion, opportunistic in have drive repurchases, of modest the we're have significant the share split free We range of the capital focused share capital our year expectations share an leverage value. Slide positioned over the want revenue, growth well shares our has EPS cash to for that to repurchase us This trailing the be year reflecting deploy more increased we adjusted price raising results 'XX executed reflects purchases revenue to revenue and August the to flexible on organic. is We quarters. through flexible $X.X our and is share. be mentioned, million EBITDA, authorization. John flow value quarter cash us driving the $XXX creation the shares including per As funds free outstanding. We repurchases. XX authorization of of per positioned repurchased This $XXX and The our Accordingly, debt at conditions. in of program net ended months in of $XXX average flow another market I continue manner unchanged. with healthy quarter clear please. million Board access to approximately growth used and future in full responsive an to initiated million X% a the market is and through quarter XXX,XXX After increase $X.X Since and now EBITDA the to first long-term open end of approximately for guidance. quarter evolving second repurchase XX, This repurchase repurchase, end, fiscal January, our to at in we share authorization X.Xx our completion with standing evenly

operating our quarter. the of revenue flattish material are results business first and with with assist Beyond be quarter expectations. To the expect the consistent to the the second with modeling, underlying dollars we relatively EBITDA purchases,

case EPS as by the year. mission of half last repurchases. guidance This a from see reflect investment in last the fixed our the share higher open of call unit second mission of as the first lower was is result the and and some adjusted driven profitability of raising half share As to half new second year, our programs. market increases we as quarter, We're shared tech additional higher declining we levels second technology our price in improvement half in as well count volume work guidance

diluted share million XX.X now shares. year is full count guidance Our

fiscal reflecting free range repurchases. The additional In minimal $XXX the in to of addition, the by is interest to guidance this expected our flow expense $XXX is existing net million, of 'XX $XXX accommodated raising income range. million cash our to We're least net the within share million. adjusted impact million income full at guidance $XX now be year change year

please. increased We X% cash count in share initial versus free benefit per of results flow free combined reduced the expect our expectations. Slide that cash increase of flow share an this XX, with the

be indicators, forward strong. continue our CACI's to prospects Turning to

the first our awards and over of Our strong X X.Xx a have first quarter duration performance book-to-bill marketplace in of years. reflects weighted quarter average

ago our visibility year revenue. First X quarter from of years good business. metrics represents provide annual backlog $XX.X of long-term almost a billion grew into X% These and

reflects we XX% 'XX, expect X% business. increased from and X% of revenue metrics new on expectations come programs, existing year in Progress fiscal our recompetes year. from the for from to these our For confidence now

we're in expect and under up, And bids a In for over $XX pipeline, to we terms over flow These for start back free in turn guidance. have able to $XX of year to new increase great to to generate and of our reflect free was of I'll to CACI. The metrics our growth, be wrap cash which EPS cash disciplined X drive XX% bidding. To ability business. we new billion healthy full and quarters performing pleased remain year, business additional flow confident with evaluation, demand continue another bids of is the adjusted that, to we business submit billion and John. first quarter the the with raise value. And revenue, call share are well, about our that shareholder to XX% per next long-term over things and

John Mengucci

Thank Jeff. you,

XX, please. Slide to go Let's

is 'XX Our fiscal great a year off to start.

successes a that in supports in flexible right opportunistic positioned growth. markets continue capabilities. show manner. winning deploying free has work and high-value per business a The tremendous cash We're these flow and We're retain. is differentiated value. growth Key with we're driving develop able our to combination We talent CACI capital enduring share long-term that of to shareholder the to strategically success is attract, and been

national company, their grow country, skills offers boundless and a serve our employees security horizons. to their As opportunities their CACI for expand leading

to long-standing best lower existing The day. leads outcomes, is people country. Ours attrition, employees, offer we've of recognizing number made investments including positive every referrals CACI where the we and innovation to culture increased proposition of and the a the is in awards, by of a new continue character to numerous hires one places drive work value our

has employer CACI Fortune number a workplace Magazine admired new and diversity. I'm by world's been recognitions most best CACI top be Forbes. our named by one to of for CACI for continues veterans including received recognized women, that our as also XX being the veterans years, fact, of the recognized In a support companies. as especially for graduates of proud for

for our As for success our let's Brianna, do and CACI is our of the company our and achieve innovation talent, because call what and the thank always every entire the that, questions. I team open to case, commitment. we employees' for want each nation they day. With

Operator

first Bank Our with Mariana from comes of Instructions] [Operator Mora question America. Perez

Mariana Perez Mora

budget. into question the And to the those depends political you environment So environment without is How about and growth see having of funded year budget? more macroeconomic my going on this much when a be actually the specifically, on X of going just budget? much billion in of a the and bids that much to new actually like you're awards contract $XX like And how having submit how takeaway? that of next months, that depends is

John Mengucci

remarks, cut avoid actually with speaker, Mariana, we're many spending XX aware in prepared the start know. scenarios. appropriations to house Look, going committed those floor know pass Senate in X% be number a what but as bills different ceiling They're they're of to The to this the thanks. I'll one. here's to monitoring start if Congress we're has to budget those, do duration the we I mentioned has we the and that one process -- And And now going shutdown We pass can't of the FY planning a we're variables we're closely. world bills. bringing are vote. hard will in for that But through of those guidance, 'XX, what out process committee. we to very closer budget with majority shutdown and those that likely any of the that And do appears RC prepared my In who work continue of a impacts. debt from a CR. all passed the being full We're our pretty say quite the events. Getting by of the of 'XX the XX funding. that confident year and home. full to April we're get Mariana our but continuing the how CR -- a shutdown, is, or because be current work to ongoing confident of deadline. It's case considered

this year high budget entire all a and end a sooner. CR low CR full the The end, of during short we passed you If remember, our assumed guidance, we assumed fiscal year. the

award, that of or select That both CR reason confident major expertise we is be it we're budget have being we moved and into that that making a long from one we submitted work submitted, spent the we're is waiting work on As and not, bids, offers and that we're pertains the but the services for deep whether we that within areas to why a of company touched. Whether those company we that this work. are that bid funding tech. the the to for enduring jobs the are the to long we're pure streams awardee government time a exactly the government certain that have very not already have in the being

that So we're predict sitting [Audio Gap] concern that we cut days CR that don't I it. don't our does us. I'm FY 'XX. the if boy, to or FY to present any nothing see into any But saying, near-term want continues, given impacts there's the year, we're to only submitting any 'XX to us today budget on growth or table is the that

Mariana Perez Mora

And Perfect. a you mentioned technology just how's company, a supply focused transitioning more follow-up, to as chain?

John Mengucci

last the we Look, a our chain. bit. supply in have about to without a wise future One purchased that delays offerings We've manner is of in mission technology we a chain but very Yes. over done quarters, couple could delivered talked get cost-effective, supply make things. few any we certain that the quite

one. that's So

right sure delay going or technology dates. get to delivering doesn't frankly, supply that business calls happens, that we've also AI us go mission we delivery make instrumented parts are from longer of all that the our materials we immediately chain us Second, in technology it to offering. when obsolete make either predictive And actually our alerts with, billable all to and go

Operator

Subin with from comes question Bert Stifel. next Our

Bert Subin

to guidance follow-up. of there. slides? having process sort X Is question a the just your things follow-up Mariana's contracts expected? any a the just progressing Maybe current ramp as highlighted impact Or are on you the in CR for Maybe

John Mengucci

Yes, to manner. areas. seen create Bert. RFPs are impacts in We truly CR out a still timely and RFIs number in of RF, not have any a coming

late You their always every all has some -- deliver heard the early. me and organization past -- perpetually some in DNA class deliver own they award saying in the and

So no impact there.

we're current slowdown for through our Spectral deliveries for funded X fully EITaaS, RFPs, then sorry, seen year we either our year program And fiscal major that RF, are and just programs, -- haven't the any As awards, Large through and fiscal funding 'XX Intel yes, in. funds.

Bert Subin

then, question. And high-level a Great. more, for about Okay. guess, John, ever-increasing margins a just I you've Historically, CACI. talked

Now have changed shift next next view clear that dial pretty couple is I over of growth sight margins over that more you at line term? over these years? X years, say, that into of does near all toward has the growth the guess to

John Mengucci

built Yes, much model realized work A view We were I'll things have X years and couple for cash as on Bert. we're this right well. today. drives we very that flow share, per vision generating way Look, winning again, back the the focused of that add here, we X free Jeff wasn't value So return. right? value company, we're his and in we're creation exactly of that purpose-built or full level the

bidding things on that on margins step, and first So the focus on. out were focus there

That from margin capability bench, after the work great the from expertise high a term high a build can focus while Xs little more bit we drove technology. moving longer so Let's to XXs. go enduring to

growth, into share, about is a organic talked growth, this line fiscal we business. year, certain reliable capital making deployment, per what cash that bottom coming an flow line there, free growth, focus we're top we're and on line cost-effective top absolute running that Now

those all X% our every longer X. no we're free since are we it's that it's of driven have -- for cash very and of share now anything? that us, Jeff, the on guide. what focus levers flow on we've one X, additional to And avail us, happy So focus original an per

Jeffrey MacLauchlan

right. mean, Yes. No. I exactly that's

level. it focus cash earnings free of generating doesn't obviously, generating sort think to additive. the it as taking it's next the but part kind It think of -- of replace of it's because, profitability is important flow, we an I

been cash we've not that but taking increased a efficiency We've now on now focus. we're the progress as it, focused on significant our So profitability, ball, John but on per flow and increased off that free always made adding shared to we're and share, focus capital eye it. focus on

John Mengucci

to initial million margin Bert XX% it parts some this that current worth in, of look $XXX we want this period. a to that also with follow-up clear The year to material. we're that we And focused on make have business we're as the it moving without million I million, at $XXX very as high underlying pertains throughout very, to a year. decision out -- continue is fact $XXX X margin make understand that to we're rate executing transparent. come that to XXs math outstanding, the but or the very we it this and had in, at I do And our of revenue them high XX-X was underlying we'll so XX-X business works

Jeffrey MacLauchlan

be too entirely the where Yes. times can't to are that operations It the expect business of said consistent we underlying be. many with

Operator

with JPMorgan. next Seth Seifman question from comes Our

Rocco J Barbero

the This on The be material QX, the is buys throughout for guidance build the the year expect growth in Or be for weighted buys? we unplanned should what front-half will ex-material new to lower growth was indicated ex as increase X% Rocco they on organic prior buy, with the QX sales Seth. impressive call?

Jeffrey MacLauchlan

Yes.

the Our -- for Rocco. question, view thanks

going underlying and we're our while But the we're operate guidance, a off year for to quarters. another view be or flattish so And we X operations here we like to you is each I strong from the Remember, of fairly buys the expect ought unplanned million there's the that in quarter of first. business, to really of $XXX to the Our reiterated reassess. those think in the quarter feel start. second material

Rocco J Barbero

look? be sense. you Is are deployment. pipeline there repurchase how for program? consistent future M&A how does That there thinking the then Great. a capital about potential And And share makes to a

John Mengucci

dynamics stock we're is, of are there. demand to what a and look, continue factors, Yes. laid are as those outlooks, that M&A our Boy, mentioned, of range you We're that's Look, a options the going valuation rates, is, we've looks leverage those opportunistic, out business pipeline our to go table. for either all flexible our what on evaluate and all, the on what trends, -- actually interest like, and are always days first price frankly, Rocco. those

the So they drive at going cash leverage evaluate all given over as the time. Because value, all the know, all dynamics per free feels they create we're of flow you to And all share options. time, right.

M&A. look have versus at We to investments versus internal repurchase look share at We M&A.

on Our options decision relative Jeff, anything And that, be going we're with is like that add? to a based rates of looking you'd return X to on whatever over time. at

Jeffrey MacLauchlan

Yes. is see and any are we're. I very we're. we -- where some buy I probably what market a make we're mean, a interesting to combination don't to but continually continually price, exercise. us, at share really opportunistic, we flexible hearing get return-driven know tired look, very this it's for It's weakness we're mean, factors is are we pipeline under see -- times I a that stop levered the back be that that when It sense maybe of us near-term much than opportunities you going looking disciplined, less shares. I guys and see where some and to not those mean of our evaluation. does in

to us capital less and become you any with particularly have you us it's but a that Those us We that of appealing that, bore I regard. to very not structure won't follow study the know favorable levered. in details,

continue at act that options. circumstances. as us appropriate we're as see at changing constantly to we range And you'll of so And look looking

John Mengucci

good more to That's and lot is pipeline do dynamics. have looking always SIGINT, at changing build. number Rocco, -- a know frankly, have in interest is other EW all starting expectations our factors. view we that the asked to and been We you market now type term. But the slow we But acquisitions But M&A. adjust years that We're always, from relatively longer-term They've when look, really market did moderate can the near of to about that in to looking of X we're see talk change to of really relative of sized drives a in may that going so and can continue capabilities relationships now, the and space now. we company what market, seller's -- of the again, see from sort back market a of free cyber area. we in return, the buyer's in sellers' also gaps. looks longer, shifting And the a And in some company growth. customer opportunities per we're the flow area, the a to rising we past. things about valuations our large to cash company the rates light drive that done way rates the with share you addressed at

Operator

Akers Fargo. Our next with question comes from Matt Wells

Matthew Akers

I the going guess are kind out you business pull in around million maybe that, that people that are base of of of on, budget? you how people mentioned sort customers if of as any was your the acting pull curious -- of kind buys around I that's So uncertainty the there $XXX well? strip your that forward just on business, I'm that forward. some guess, material I uncertainty think shifted based some maybe the of

Jeffrey MacLauchlan

sure material little unplanned buys unpack -- your not make let's were the a bit Well, first question. let's premise The pull of forwards.

was unplanned activity, So customer we that which addressed. efficiently -- and were responsively

think if the anything, we we're the a business the path. Beyond our on performance may, be We on ahead for good well, first a is think slightly we good quarter, that, expectations and of -- we're path. underlying of

manage the continue early that, to year. and mean, continuing year John as to said, in position, I days our into it. be but So it's we'll we're and the XXX evaluate we'll we're with happy

Matthew Akers

it. Got

between the $XXX in maybe of over think And any that that work I table, things does guess, Okay. that's come the happening And on out of potential then there? any just the involvement plus thoughts billion CACI? of you supplemental East kind some for U.S. on Middle now could this

John Mengucci

Matt. many, we've that place. many dangerous unfortunately, is Look, said a Yes, right, times, the world

the and So around what's globally, going was certainly, call, the raised Ukraine frankly. on in wake-up level defense national urgency that first I think security

for. about suite all a major well increasingly Yes, threat. the is on money I'm that Israel of we mission few EW I've heard what know is it near-peer the a mission is, technology minimum defined they're know more that signal never is said to reminder We countries. in this, looking today. to on be also it. Nations and on was the E, near-peer built the attack what software was they mind, exactly an an M. that want E, world as It's the look, everything and and the how to it, country that repeat you've it to me for showing the where other is around the always supporting. we're counter-terrorism threats, But still afraid in there saying of E, think address be spent concern. all I you're increase can't I despite interested going $XXX our made going same doing this what electromagnetic always Eastern I what spectrum hearing European going our signal. engaged call. you to I'm can ore, most and we're thing We've we're there it all billion up But key Xi was countries technologies We're can spending. Look, specifics, are tell our But international those E, some and trips the to in as products. hearing that the to plus and a expertise convinced allies deliver as be

offerings markets taking very, we to very, discuss expansions it's going the look a what and around very other at. But, enter select Eastern countries So we'll Europe We're be I'm very specifics. NATO start to the to how have. with too and calculating as is that the sure early and international we that conservative frankly,

Operator

question Strauss with Barclays. David next Our from comes

Josh Corn

I on to wanted sounded considered for or the materials ask technology. Josh It like technology. This purchases if expertise in is David. Corn quarter the were actually

mean So like if that's it seemed the up tech case, was I was expertise purchases, ex-those growth and flat. XX%

I wanted the of the or about remainder So that quarter? specific ask implies year the to if anything in anything

Jeffrey MacLauchlan

kind technology. think managing think mix. but these mean don't to move were add they there's all, -- conclusion John want of of extend statistics obviously, to around, I may First that. don't from a there's and we're I this, I to generally particular

John Mengucci

this, said I'm just pleased of probably is every much The growth, I Yes. of with excited as technology they're I'm extremely growth. every right? growing, news dollar dollar Thanks, good Jeff. both by expertise right? Look, So

margins understand outstanding enterprise mission Todd new to seeing most we some that then as job all of finding Probert DoD, of up ways cues we I those they're see Agile within helps it's of both whether mission us tech here the day, technology, expertise extremely Afghanistan runs our expertise that work you, tech of whether ramp-up of it's federal our is cost-effective and what enables anything drive development NSA an expertise of invest which, some and more takes end see we picking we're of the doing of work, outstanding and job Cyber in does AI all Scale, the cost or how -- when well. think does us. in those that, the in At important that you in but DeEtte lapping tips withdrawal who expertise the tables, and to benefit all or I informs our in bring of the the also Expertise could Gray, frankly, expertise. And to Intel do down and space, technology new at tech software tell program.

I we're that explained quarter are business usually to think of there's at movements won. some latest large months easily with different of see rates. going over the But that growing we've Josh, pieces XX work our So quarter, different

George Price

for Brianna, question. next we're think I ready a

Operator

Jefferies. question with Our next comes Walters Conor from

Unknown Analyst

into wanted quarter. dig strong I bit major little of to programs a a some on Congratulations just more. these

into update and on revenue about the think progress and in contribution profit few is the years the an should around how next there? the quarter Now can that and cadence hiring you provide to over ramp, FocusedFox we a

John Mengucci

Yes.

of you expertise program positive worth but Meisha our feedback continue. by would certain proposed, in and customer just So a would always about somewhere than superior. say slightly we're going look, from was that expect to normal long-term today, program it because team I us. it's but up that transition I'm by ramped a won her from awards X path we faster that we up planned billion for up great of date. Lutsey our that $X.X down technically But and to know it's said program is major phase a What's recognize. as have to way I'll tell -- us. year-by-year. exact level, low we ramps And our And our we CACI expertise ramping the won I the proposal is was maybe work the that talk the programs. about well the And to nothing proposal. I we've not XX% Conor. We're risk transition that technology program crucial incumbent is And performance quarter-by-quarter the at that to was would we in frankly, would to making ahead, --

Unknown Analyst

in contribution as about the relates of billion with at Got scale intelligence the super vein should community from maybe the award it it. the That's customer. ramp And that? the thinking How $X.X be new same helpful. to timing and we

John Mengucci

award, was think billion. I Conor, $X.X it job. I Yes. network that's an build-out -- X-year a think That's

out. That's then different, to is that at period ramp-up and which globally. over jobs, bit making Technology that network little that is But changing light what the be going have of year, we would specification, When realm roll a a wanted. working a customer full is so and makes network or as looks say that last do is those the I right? with next So actual the offering these that mile in network we a our the lot little either Conor, work, that CSfC we'll the start we how we're would curve scale revisit on up used where large connecting, what what bit to unique. or device design programs side, a there's of the like customer front-end sure is

again, and And we so -- just work. won that

we'll but date. to as in So our that guidance change we'll fourth some place. and come going lighter that's no the to If third on protests be revenue in in, nothing it, where quarter, see putting plan are there

Operator

Jan-Frans question from Engelbrecht next comes Our with Baird.

Jan-Frans Engelbrecht

I'm on for Peter today. Great.

revisit So identified net high X.X an you made you M&A the of comments would target? Could some just provide leverage color want attractive how and on go if that you you of to sort with quickly today.

John Mengucci

a That's answer to perfect Yes. the hypothetical. not

we long we perhaps occasionally that X.X. said consider would a time, For

It's about to said. difficult to so answer think all you context going the a think that, I about ZIP right But certainly, what is the in more asset, be a the us historically target. sort in less. the current thinking a little for code target, to I of obviously, X.X, that's specific imagine we maybe environment, of But could outside we've should consider. up

Jan-Frans Engelbrecht

Great. a That's award. then helpful. quick And on really follow-up just the Spectral

sort months, we are hardened in the strengthen electronic the budget couple that years, given out warfare look see Indo-Pacific you any for Just to Navy should XX continue environment grade next XX related of opportunities in the of likely signals additional bidding next should that there to for? the Navy specifically intelligence the that

John Mengucci

Yes. how put It electromagnetic that and can there. Great. reason something program, that One, Remember, prepared is bids warfare today's threats. detection do at morph gets it's Spectral it the of on do Actually, to my really investing customer we that was about why is Look, much are and mentioned deployed as awarded remarks on current things. out Spectral our can we lot countermeasure on a actually our we what XX X is is right? already electronic XX looking so for began program next the Spectral. the updated Our spectrum, the months that today. assets other equipment talks not the about

it won think fiscal having there 'XX, right was awarded can do of and get a we're $X.X $XXX sooner remember in I was there's job delivery that detailed through look that million we address award. up lot other booked $XXX the this a we discussions the have to like. anything I year, looks threat past around that is what sorting sort set believe at the we year does if today, we're can like and billion million I then more and program, that we of platforms contract today. When what we

look there that that out to outstanding other to the happening the tie what as what's there perfect has we've -- The over delivering. type countries to our all customers are other as start and then are of capabilities. getting on purpose-built And that customer at we of and Spectral in an question, for we So we're those market. another there's the out job. us to say global have back there's I'd this show done We're deliver also Navy, is seeing stage, capabilities where another moved light Navy

right Spectral. place we funding the of have the love So rate need. to we in one, customer all we invest calls ahead that on Two, made

the because three, a INDOPACOM So technology then Navy entire that how threat up we it's where would the that depend to out is with working going quicker in near-peer immediately. deliver team start find And on. we region to even great can

Operator

Tobey from next Truist Our question Securities. comes with Sommer

Tobey Sommer

the the of Could revenue changes for of turn 'XX? as for that, trends both headcount about growth and of associated recruiting we kind you in expenses talk calendar and and terms difficulty implications you're that outlook growth into in seeing in sort billable any

John Mengucci

Yes, Tobey.

building to and guidance our talent our We've hires we logistics which then it's a X.X% last, great down. we've the size company over have going got very, as markets are build can great fungible around X.X%. growth time how is absolutely done program, are is very hiring sort what organic much we through is year, one some technology we're working does we're XXX to winning, of right? those people, expertise way the market know move on people assessed between move moves, they're Hopes -- around lot I draw of to hires our technology a this of find where well well. And raised to grow. look, the we're got first. different And expertise have financial referral, or of totally a expertise we their here. Look, that look? love tag a off when and company more off, need a we Look, that a our growth which and just says I'm jobs That's to get And frankly, we're technology job on marketplace First business. cost going from looking of know of going well that frankly, moved #making And today technology other flexible both business labor. for for ourselves helps in line, programs, material come And find whether X differentiate and -- we for and already they're from program internal XX% internal of then and for. interns. We people, looking keeps we outstanding have It or and to have career. Over they're them them lot around this the based is beauty projects. positioned We've jobs large people company frankly, there. This we to great have jobs, new us. the in that talent. people people the wellness

program So comes financial free of to flexible of charge time that bonus our a really good employees. off, all

FY attrition lower. 'XX about So percentage with finished we X point look, a running

there can less and You X% people and into to do how many hire. on XX,XXX people have out back go we

what giving like our hire the both tech, and to retain expertise for ability us So and is for I talent. market

Tobey Sommer

does what that changes and acquisition And if And impact in I merger program around the FTC? the get guidelines at thoughts could do your you perspective, proposed think that? on your how

Jeffrey MacLauchlan

about probably that sort are acquiring may thoughts interest in Yes. the our managing competition, that the thoughts on we're little, thinking this. areas some either a but strategic of It's add. capabilities, terms position about one to vertical our very gaps -- of It's -- There's and focus complementary where of to John filling have it expect or threatening to probably evaluating integration know very want if, to don't which to pipeline pipeline. want may don't large is of mean in any in I areas not on is a John, less us. involves add I to our really little will and have I competitors. impact

John Mengucci

answered. think you I have

Operator

Louie DiPalma from Blair. comes with question William final Our

Louie Dipalma

investing at disruptive and CACI on your And presentation particularly Spectral into your great for conflicts? solution different the success as drone there? And other distinguished Ukraine. warfare Spectral to proven has versus across a platforms. in opportunities other warfare Union CTO, Sieve many gave in XX out country has he integrating European Glenn the Electronic preparation Ukraine platforms payload there beyond Sieve your the to Kurowski And AUSA, electronic your with itself of are future like integrated appears be be

John Mengucci

goes, our Yes, it's some want fixed, right? have spectrum mind -- we where fine tools, we whether when goal geo, mission where my Louie. model be we believe And it's customers. in as package is offerings, these platform we we all when to which part, deliver these when companies software best-in-class We you first our well what as offerings that to is place, it's here's provider was Look, here's technology the I build build heard tools put and the talk directly electromagnetic Glenn whether a -- to a about very sorry, defining. I'm

on So at I to almost else's defined factor my day, hand, platform. form the is it software can with matter our an because software look doesn't unit gold international those going to us the somebody's the like. and ITAR The in the put front, at can end I we put if That's of to regulations as delivering come are we talk superpower. If software about why inside. someone

use the we So what difficult to take U.S. a in variant modification is of it not a

they're who not But country, get are us unilaterally fit we the need country, is they make and to get easy partners small Xi the form amount very to our is software or that changes, it's for work those to of capability. defined. line if us everything of Some and want beauty going because the to is time of with less. Xi potentially If more they're they're going slightly function, a whether investment

that spend make distribute Guard Spectral or and time and different have investment it logic a those mission of ] So in able Spectrum spend are technology many we're or there. to offerings better, those or when money relatively algorithms to shared or that Korean of SkyTracker, case to Magpie [ all offerings Sieve for all one baseline whether out all and we us it's

Louie Dipalma

-- my John. my several And to that second question. relates

CACI also large for software and MIST. baseline BEAGLE and You SAFFIRE, your for program. this have FADE offerings just developed has shared software discussed team the the And also

favorable of the lot leverage platforms, different you to software next the a that on these such have like you For are recycle components able operating platform? common

John Mengucci

Yes.

data information number data take understand and or Those in of all of intelligence of take that. what have lot a We DoD and systems we deliver terabits minute for a a what doesn't. transform ability that been me take let we systems first of so targeted place our part our years. be and So into the that to both AI-based to visualization and customers has build allow systems that and

those other does move from continue of intelligence board. one on job phenomenal to team customer users and another to our We bringing

and whether visualization foundational of actually make models is tools, making it's to are the frankly, by the real deployed. we've reference and and computer tools DoD doing all of one other mapping that all or fighters, both certain time, vision, long And they're We're war So has across AI frankly, models, We're actually facets not those customers, are for of used how AI. We're base board. those happen. been Intel advising it's data delivering amount it. work and it a whether delivering those the been AI all

that also those manner across software can and those a we to it As models all share the baselines yes, of preference software, products. built are our that pertains all in

company's of assign hardware software this -- have super, would that superpower more we being things. that really in a well So to how solution. so much things It's Louie, just type domain, form not the about swap we and architected actual

to step and we the deliver So and we're repeat when place, we in capability get it. able

Operator

This turn to for concludes remarks. call our Mengucci back over now I John session. closing will the question-and-answer

John Mengucci

are call. for dialed great thank many everyone who webcast thank and stay to Thank your of participation. and help Brianna, and today's Thanks, call. your families, and for you We you call. to continued our know MacLauchlan to a International. Jeff CACI listened like our We follow-up questions, all healthy, This day. that Price have your you concludes interest today's Please you, available their and or will on thank have my best after George in for you and in

Operator

may You now disconnect.

CACI International (CACI) 26 Oct 232024 Q1 Earnings call transcript