Author: Ross Wilkers|| Date Published: October 27, 2016
CACI International (NYSE: CACI) lowered full-year earnings per share guidance Wednesday as first quarter EPS and revenue exceeded Wall Street analyst forecasts on continued contributions from the National Security Solutions business acquired in February from L-3 Communications (NYSE: LLL).
GovCon Index-listed CACI now expects earnings for its 2017 fiscal year started Oct. 1 of $5.98-$6.37 per share versus the prior $6.02-$6.43 outlook with revenue expectations held at $4.05 billion-$4.25 billion and the net income outlook also unchanged at $150 million-$160 million.
Earnings for the FY 2017 first quarter were $1.47 per share to exceed analysts’ expectations of $1.25 EPS, while revenue climbed 30.51 percent year-over-year to $1.07 billion versus Wall Street’s outlook of $1.02 billion.
NSS generated $254.3 million in first quarter revenue for CACI, which is scheduled to discuss results and market outlooks with analysts before markets open Thursday.
As of Wednesday’s close, shares in CACI have added 9.13 percent since the start of the year and are up 18.81 percent over 12 months.
By comparison, the GovCon Index has risen 7.36 percent on a year-to-date basis and 5.05 percent for 52 weeks.
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CACI International (NYSE: CACI) lowered full-year earnings per share guidance Wednesday as first quarter EPS and revenue exceeded Wall Street analyst forecasts on continued contributions from the National Security Solutions business acquired in February from L-3 Communications (NYSE: LLL).
