CACI International (CACI) Q4 2024 earnings summary

Executive summary

• Achieved 14% revenue growth in FY24, with Q4 revenue up nearly 20% year-over-year, driven by strong execution, major contract wins, and strategic investments in technology and talent.

• Secured over $14 billion in contract awards, a company record, with a 1.9x book-to-bill ratio and backlog up 22% to $32 billion, supporting long-term growth and visibility.

• Delivered EBITDA of nearly $800 million and free cash flow of $384 million, with free cash flow per share up 41% year-over-year.

• Executed strategy focused on larger, longer-duration contracts and superior operational execution.

• Positioned for continued growth in FY25, with a robust pipeline and high win rates.

Financial highlights

• FY24 revenue totaled $7.7 billion, up 14.3% year-over-year (13.7% organic), with Q4 revenue at $2.04 billion, up 19.7% year-over-year.

• FY24 adjusted diluted EPS was $21.05, up 12%; Q4 adjusted diluted EPS was $6.61, up 25% year-over-year.

• FY24 EBITDA margin was 10.7% underlying; Q4 EBITDA margin was 11.5%, up 60 basis points year-over-year.

• Free cash flow for FY24 was $384 million, up 36% year-over-year; Q4 free cash flow was $135 million.

• Days sales outstanding (DSO) at a record 46 days, reflecting efficient working capital management.

Outlook and guidance

• FY25 revenue expected between $7.9B and $8.1B, representing 6%-8.5% growth (5%-8% organic, excluding $200M non-recurring revenue in 1H FY24).

• Adjusted net income guidance: $505M–$525M; adjusted diluted EPS: $22.44–$23.33.

• Free cash flow expected at least $425M, or $18.89 per share, up 11% year-over-year.

• EBITDA margin projected in the high 10% range; capital expenditures projected at ~$80 million.

• Higher profitability anticipated in the second half of FY25.