CACI Records 11% Q2 FY23 Revenue Growth; John Mengucci Quoted

CACI International (NYSE: CACI) saw its fiscal year 2023 second quarter revenue rise 11 percent to $1.65 billion and attributed the increase to a 6 percent organic growth and recently completed acquisitions.

The Reston, Virginia-based government technology services contractor said Wednesday total backlog at the end of December was $26.5 billion, of which $3.2 billion was funded.

CACI booked $3.5 bilion in contracts during the period and new business accounted for 70 percent of the contract awards.

Q2 FY 2023 contract wins include a $2.25 billion contract with the Defense Counterintelligence and Security Agency for background check support and a $284 million contract with the National Security Agency for systems engineering services.

The company reported $87.1 million in Q2 net income and $3.68 in diluted earnings per share.

Second-quarter revenue and gross profit drove income from operations to jump 5.4 percent to $130.9 million.

CACI maintained its full year revenue expectations at $6.5 billion to $6.6 billion and adjusted diluted earnings per share guidance at a range of $17.65 and $18.49.

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