Organic Growth Delivers 10% Q3 Fiscal 2023 Revenue Hike for CACI; John Mengucci Quoted

CACI International (NYSE: CACI) logged a 10.1 percent year-over-year increase in revenue for the third quarter of its 2023 fiscal year to $1.74 billion, activity the company attributed to organic growth.

Profit for the three months ended March 31 rose to $100.7 million from $95.4 million in the prior-year period, while net income on a per-share basis was $4.33, up from $4.04, CACI said Wednesday.

Total backlog for the quarter stood at $25.3 billion, up 8 percent from the $23.5 billion reported a year ago.

Contracts awards for the third quarter amounted to $1.1 billion and notable bookings include an extension worth $100 million to assist the Air Force Distributed Common Ground System in mission software development efforts.

John Mengucci, president and CEO of CACI and four-time Wash100 winner, said the company’s differentiated technology and expertise are enabling them to win and execute opportunities in the marketplace, as evidenced by its growing backlog and pipeline of additional opportunities.

The Reston, Virginia-based company raised its guidance for fiscal 2023 and expects full-year revenue to be around $6.68 billion and $6.75 billion, compared to the previous range of between $6.48 billion to $6.68 billion.

Shares at CACI opened higher on Thursday at $315, compared to a previous close of $300.73.

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