CACI International raised its fiscal 2027 revenue and adjusted earnings ranges after reporting 8.2% first-quarter sales growth, while free cash flow fell 6.6% year over year.
The national security company reported revenue of $2.475 billion for the three months ended Sept. 30, up from $2.288 billion a year earlier. Organic growth was 2.1%. Net income increased 4.5% to $130.4 million, and diluted earnings per share rose 3.7% to $5.84.
Adjusted net income, which excludes intangible amortization and its related tax impact, reached $171 million, up 12.7%, according to CACI’s Oct. 21 results release. Adjusted diluted earnings per share rose 11.8% to $7.66. EBITDA, another non-GAAP measure, increased 22.4% to $328.8 million, with a 13.3% margin.
For fiscal 2027, CACI now projects revenue of $10.7 billion to $10.9 billion, compared with its previous range of $10.65 billion to $10.85 billion. Its adjusted net income range is $740 million to $760 million, and adjusted diluted earnings per share guidance is $33.18 to $34.08. The company kept its forecast for at least $900 million in free cash flow.
Awards totaled $4.8 billion, with about 61% for new business to CACI. The total excludes ceiling values for multi-award indefinite-delivery, indefinite-quantity contracts. The company reported a 2.0x book-to-bill ratio, which compares contract awards with revenue. As of Sept. 30, funded backlog was $6.2 billion, up 14.8% from a year earlier; total backlog was $34.0 billion, up 0.3% from $33.9 billion.
Operating cash flow, excluding CACI’s Master Accounts Receivable Purchase Agreement, declined 9.5% to $144.8 million. CACI said higher working capital was the primary driver of the decrease. Free cash flow fell 6.6% to $133.5 million.
“Our first quarter results represent a strong start to fiscal year 2027,” CACI President and Chief Executive Officer John Mengucci said. CACI scheduled a call to discuss the results for 8 a.m. ET Thursday, Oct. 22.
