Caci International, Inc. · NYSE:CACI
Caci International — Q2 FY2021 Earnings Presentation
16 slides from Caci International's earnings presentation, Jan 28, 2021
Slide 1: CACI International Inc Q2 FY21 Earnings Conference Call
CACI International Inc Q2 FY21 Earnings Conference Call January 28, 2021 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 Q2 FY21 Earnings Conference Call
Slide 4: We honor Jack's visionary leadership for nearly half a century.
We honor Jack’s visionary leadership for nearly half a century. Dr. J.P. (Jack) London 1937 - 2021 4 CACI Q2 FY21 Earnings Conference Call
Slide 5: Q2 Results – Another Strong Quarter
Q2 Results – Another Strong Quarter Revenue +5.2% as reported, +4.3% organic • Technology revenue +12.7% Adjusted EBITDA Margin 11.9%1 Net Income and Diluted EPS +34% Robust cash flow from operations ($190 million)1 1 See slides at the end of this presentation for definitions and reconciliations of
Slide 6: Strong Recompete Performance and Expansion
Strong Recompete Performance and Expansion Q2 awards $2.1B (book-to-bill 1.4x; 1.5x TTM), with several expanded renewals $447 million contract supporting acquisition Mission Technology − Contract consolidates with us work previously performed by six competitors $376 million Technology contract for a
Slide 7: Investing Ahead of Customer Need
Investing Ahead of Customer Need Investments drive higher value for customers and IP, differentiation, and future growth for CACI CACI is on the forefront of laser communication technology in the Space domain Long distances, faster, with lower probability of detection/defeat by adversaries Currently
Slide 8: Budget and Market Environment
Budget and Market Environment Large and growing addressable market of >$230 billion Bipartisan support for defense and national security priorities Global threat environment remains elevated Government fiscal year 2021 now fully funded – within the budget, we see benefits for our Counter-UAS, cyber,
Slide 9: Q2 FY21 Revenue and Net Income
Q2 FY21 Revenue and Net Income Revenue (Ms) Revenue driven by new business wins, $1,600 on-contract growth, and acquired revenue $1,395 +5% $1,469 $1,400 Organic growth of 4.3% $1,200 Technology revenue +12.7%, $1,000 Expertise revenue -1.3% $800 Q2 FY20 Q2 FY21 Net Income (Ms) Higher net income dri
Slide 10: Strong Cash Flow
Strong Cash Flow Cash Flow1 and CapEx (millions, TTM) $700 ▪ Q2 FY21 net cash provided by operating $650 activities excluding MARPA of $190 million1, up 62% YoY $600 $550 $500 $450 $400 ▪ Days Sales Outstanding of 53 days1 $350 $300 $250 ▪ Leverage of 2.0x2 $200 $150 $100 ▪ Strong cash flow and borr
Slide 11: Reaffirming FY21 Guidance
Reaffirming FY21 Guidance Guidance Organic revenue growth of Revenue $6,050 – $6,250 about 6.3% at the midpoint (millions) Adj. EBITDA Margin1 of ~10.8% Net Income $372 – $392 (millions) Diluted shares outstanding expected to be 25.7 million Diluted EPS $14.47 – $15.25 Capital expenditures of ~$70 m
Slide 12: Positive Forward Indicators for FY21
Positive Forward Indicators for FY21 Q2 FY21 contract awards of $2.1 billion 95% STRONG TTM Book-to-Bill of 1.5x Existing Business Performance Record backlog of $22 billion, +10% YoY 2% HIGH Pipeline of submitted bids totals Recompetes Win Rate $7.1 billion >70% for new business to CACI and >50% Tec
Slide 13: Delivering Results and Meeting Commitments
Delivering Results and Meeting Commitments Strong 1H FY21 performance while successfully navigating COVID-19 FY21 guidance reflects healthy organic growth, strong margin expansion, and robust cash flow CACI positioned well, performing well, and delivering on commitments Confident in our ability to c
Slide 14: 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 15: Reconciliation of Net Cash Provided by Operating Activities to Net Cash Provided by Operating Activities Excluding MARPA
Reconciliation of Net Cash Provided by Operating Activities to Net Cash Provided by Operating Activities Excluding MARPA Three Months Three Months Ended Ended (dollars in thousands) 12/31/2020 12/31/2019 Net cash provided by operating activities $ 205,387 $ 133,821 Cash used (provided) by MARPA (15,
Slide 16: Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA)
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) Three Months Ended (dollars in thousands) 12/31/2020 12/31/2019 % Change Net income $ 106,478 $ 79,195 34.5% Plus: Income taxes 25,974 16,278 59.6% Interest income and expense, net 9,087 14,714 -38.2% Depreciat