Caci International, Inc. · NYSE:CACI
Caci International — Q3 FY2020 Earnings Presentation
14 slides from Caci International's earnings presentation, Apr 30, 2020
Slide 1: CACI International Inc Q3 FY20 Earnings Conference Call
CACI International Inc Q3 FY20 Earnings Conference Call April 30, 2020 CACI Proprietary Information CACI Proprietary Information
Slide 2: Forward-looking Statements
Forward-looking Statements There are statements made herein that do not address historical facts and, therefore, could be interpreted to be forward- looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to risk factors that co
Slide 3: On Today's Call
On Today’s Call John Mengucci Thomas Mutryn Greg Bradford President and Chief Chief Financial Officer President and Chief Executive Officer Executive, CACI Limited UK 3 | CACI Proprietary Information CACI Q3 FY20 Earnings Conference Call
Slide 4: Strong Q3 Performance
Strong Q3 Performance Q3 revenue growth of 15.9%, with 9.9% organic growth Strong profitability Robust cash flow from operations1 Healthy contract awards of $1.4 billion ~50% new business to CACI Reiterating FY20 guidance, including at least 7% organic growth 1 See slides at the end of this presenta
Slide 5: Proactive Response to COVID-19
Proactive Response to COVID-19 Employees – our top priority is their health and safety − Working remotely whenever possible − Adhering to CDC/customer guidelines; implemented enhanced cleaning procedures Customers – we remain committed to supporting their missions − Being flexible – CACI working wit
Slide 6: Resilient Business Model
Resilient Business Model National security and modernization priorities are enduring, despite COVID-19 Healthy funding environment; most of our work under long-term contracts Government customers’ procurement and payment operations continue to work CACI continuing to recruit and hire to execute on o
Slide 7: Q3 FY20 Revenue and Net Income
Q3 FY20 Revenue and Net Income Revenue (Ms) Revenue driven by new business wins and on- $1,600 $1,466 contract growth, as well as acquired revenue +16% $1,400 $1,265 $1,200 Organic growth accelerated to 9.9% from $1,000 8.1% in Q2 and 5.6% in Q1 $800 COVID-19 negatively impacted Q3 revenue by $600 $
Slide 8: Resilient Financial Model
Resilient Financial Model Cash Flow1 and CapEx ▪ Q3 net cash provided by operating activities (millions, TTM) excluding MARPA of $125 million1, up 10% $500 year-over-year $450 $400 ▪ Q3 TTM net cash provided by operating activities $350 excluding MARPA of $467 million1, up 44% $300 year-over-year $2
Slide 9: Stable Industry and Positive Forward Indicators
Stable Industry and Positive Forward Indicators Industry CACI Stable government customer base Large and growing addressable market well- aligned with key national security priorities Funding fully appropriated for GFY20, budget deal through GFY21 Q3 FY20 contract awards of $1.4 billion TTM Book-to-B
Slide 10: FY20 Guidance
FY20 Guidance Current Guidance Prior Guidance Organic revenue growth of at least 7% Revenue $5,600 – $5,800 $5,600 – $5,800 (millions) FY20 Adjusted EBITDA Margin of ~10% Net Income $305 – $325 $305 – $325 Tax rate expected to be (millions) approximately 20% Diluted shares outstanding Diluted EPS $1
Slide 11: Delivering Results, Being Responsive
Delivering Results, Being Responsive Delivered strong financial performance in Q3, including accelerating organic revenue growth Responding to our employees, customers, and communities to help mitigate challenges from COVID-19 Operating our business to emphasize resiliency, financial strength, and t
Slide 12: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures The Company defines net cash provided by operating activities excluding CACI’s Master Accounts Receivable Purchase Agreement (MARPA) as net cash provided by operating activities calculated in accordance with GAAP, adjusted to exclude net cash received from CACI’s MAR
Slide 13: Reconciliation of Net Cash Provided by Operating Activities to Excluding MARPA
Reconciliation of Net Cash Provided by Operating Activities to Net Cash Provided by Operating Activities Excluding MARPA Quarter Quarter Ended Ended (dollars in thousands) 3/31/2020 3/31/2019 Net cash provided by operating activities $ 120,800 $ 313,301 Cash used (provided) by MARPA 3,938 (200,000)
Slide 14: Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA)
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) Quarter Ended Nine Months Ended (dollars in thousands) 3/31/2020 3/31/2019 % Change 3/31/2020 3/31/2019 % Change Net income $ 80,577 $ 68,145 18.2% $ 227,749 $ 215,574 5.6% Plus: Income taxes 19,012 13,297 43.0