CACI Reports 8% Growth in Fiscal 2023 Q1 Revenue; John Mengucci Quoted

CACI International (NYSE: CACI) reported $1.60 billion in revenue for the first quarter of its 2023 fiscal year, up 8 percent from the prior year period, and attributed the increase to a 4 percent organic growth and recently closed acquisitions.

The Reston, Virginia-based government technology contractor said Wednesday net income from operations rose 4.5 percent for the July-September period to $132.8 million and diluted earnings of $3.76 per share.

Sales in CACI’s defense segment increased 9.5 percent for the quarter and represented the majority, or 68.2 percent, of its total Q1 revenue.

The company closed the quarter with $3.2 billion in contract wins, which include a potential $5.7 billion blanket purchase agreement from the U.S. Air Force for Enterprise IT as a Service Wave 1 services.

Total backlog as of Sept. 30 stood at 24.9 billion, of which $3.7 billion was funded.

“We continue to successfully execute our strategy and invest ahead of customer need, demonstrated by our strong awards, large and growing backlog, and healthy pipeline of opportunities,” said John Mengucci, president and CEO of CACI and a three-time Wash100 awardee.

In the past 12 months, the company acquired ID Technologies, SA Photonics and Bluestone Analytics.

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