Caci International, Inc. · NYSE:CACI
Caci International — Q1 FY2022 Earnings Presentation
19 slides from Caci International's earnings presentation, Oct 28, 2021
Slide 1: CACI International Inc Q1 FY22 Earnings Conference Call
CACI International Inc Q1 FY22 Earnings Conference Call October 28, 2021 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 President and Chief Chief Financial Officer Executive Officer 3 | CACI Proprietary Information CACI Q1 FY22 Earnings Conference Call
Slide 4: Strong Q1 FY22 Performance
Strong Q1 FY22 Performance Revenue +2% as reported and organic Technology revenue +10% Adjusted EBITDA Margin 10.8%1 Robust free cash flow of $164 million1 Strong contract awards of $2.4 billion; ~50% new business to CACI TTM book-to-bill 1.6x 1 See slides at the end of this presentation for definit
Slide 5: Positive Budget and Market Environment
Positive Budget and Market Environment CACI well-aligned with the administration’s national security, defense, and modernization priorities Budgets trending higher; overall budget environment remains favorable Bipartisan support for national security and IT modernization CACI well-positioned in grow
Slide 6: Leading in Software Development and Cyber
Leading in Software Development and Cyber Software addresses customer needs for new capabilities, speed, agility, flexibility, security, and efficiency CACI industry leadership in agile software development Enhanced our CORIAN C-UAS system with software-defined capabilities Continued leadership in c
Slide 7: Flexible and Opportunistic Capital Deployment
Flexible and Opportunistic Capital Deployment Continue to invest ahead of need in high-demand, high-value capabilities Acquired two Mission Technology companies Open-source intelligence (OSINT) solutions focused on Dark Web Specialized cyber and satellite communications Opportunistic and flexible ca
Slide 8: Q1 Financial Summary
Q1 Financial Summary Revenue (Ms) Diluted EPS (GAAP) $1,600 $5.00 +2% $1,491 $4.00 $3.67 +1% $3.70 $1,500 $1,460 $3.00 $1,400 $2.00 $1,300 $1.00 $1,200 $0.00 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 1 Adjusted Diluted EPS +2% Organic revenue growth of 2.0% $5.00 $4.14 $4.24 $4.00 $3.00 Technology revenue +9.
Slide 9: Strong Cash Flow
Strong Cash Flow ▪ Q1 FY22 net cash provided by operating Cash Flow and CapEx 1 activities excluding MARPA of (millions, TTM) $174 million1 and free cash flow of $700 $650 $164 million1 $600 $550 $500 ▪ Year-ago cash flow includes ~$32 million $450 benefit from CARES Act payroll tax deferral $400 Da
Slide 10: Free Cash Flow per Share
1 Free Cash Flow per Share 1 Free Cash Flow (FCF) per Share $35.00 ▪ FY20 includes CARES Act payroll tax $30.00 deferral benefit of ~$40 million $25.00 ▪ FY21 includes CARES Act payroll tax $20.00 deferral benefit of ~$50 million and tax $15.00 payment of ~$90 million due to certain $10.00 tax elect
Slide 11: Deploying Capital for Growth – Q1 Acquisitions
Deploying Capital for Growth – Q1 Acquisitions Acquired two Mission Technology companies Total consideration ~$120 million FY22 revenue contribution ~$30 million, with modest accretion Contribution included in existing FY22 guidance 11 | CACI Proprietary Information CACI Q1 FY22 Earnings Conference
Slide 12: Reaffirming FY22 Guidance
Reaffirming FY22 Guidance Organic revenue growth of FY22 Guidance ~4% at the midpoint, incl. Afghanistan headwind (2%) Revenue $6,200 – $6,400 (millions) Adj. EBITDA Margin1 of ~10.9% Diluted shares outstanding Adjusted Net Income1 $430 – $450 (millions) expected to be 23.9 million Capital expenditu
Slide 13: Positive Forward Indicators
Positive Forward Indicators Strong Q1 FY22 contract awards of 89% STRONG $2.4 billion TTM Book-to-Bill of 1.6x Existing Business Performance Backlog of $23.9 billion, +9% YoY Includes $1.1 billion reduction 7% HIGH due to Afghanistan withdrawal Recompetes Win Rate Pipeline of submitted bids: $6.0 bi
Slide 14: Delivering Results and Meeting Commitments
Delivering Results and Meeting Commitments Good Q1 results to start the year Solid organic growth Healthy margins Robust cash flow Strong awards and growing backlog Investing ahead of customer need Internal investment M&A – OSINT, cyber, satcom Talented employees committed to success of customers an
Slide 15: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures Adjusted net income and Adjusted diluted EPS are non-GAAP performance measures. We define Adjusted net income and Adjusted diluted EPS as GAAP net income and GAAP diluted EPS, respectively, excluding intangible amortization expense and the related tax impact as we do
Slide 16: Reconciliation of Net Income to Adjusted Net Income and Diluted EPS
Reconciliation of Net Income to Adjusted Net Income and Diluted EPS to Adjusted Diluted EPS (Unaudited) (in thousands, except per share data) Three Months Ended 9/30/2021 9/30/2020 % Change Net income, as reported $ 88,109 $ 93,644 -5.9% Intangible amortization expense 17,593 16,134 9.0% Tax effect
Slide 17: Adjusted EBITDA Reconciliation
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) (Unaudited) Three Months Ended (in thousands) 9/30/2021 9/30/2020 % Change Net income $ 88,109 $ 93,644 -5.9% Plus: Income taxes 28,522 30,800 -7.4% Interest income and expense, net 10,398 9,980 4.2% Depreciati
Slide 18: Reconciliation of Net Cash from Operating Activities to Free Cash Flow
Reconciliation of Net Cash Provided by Operating Activities to Net Cash Provided by Operating Activities Excluding MARPA and to Free Cash Flow (Unaudited) Three Months Ended (in thousands) 9/30/2021 9/30/2020 Net cash provided by operating activities $ 185,953 $ 176,900 Cash used in (provided by) MA
Slide 19: Reconciliation to Free Cash Flow and Free Cash Flow per Share
Reconciliation of Net Cash Provided by Operating Activities to Net Cash Provided by Operating Activities Excluding MARPA, to Free Cash Flow, and to Free Cash Flow per share (Unaudited) Twelve Months Ended (in thousands, except per share data) 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/20