Caci International, Inc. · NYSE:CACI
Caci International — Q1 FY2020 Earnings Presentation
16 slides from Caci International's earnings presentation, Oct 31, 2019
Slide 1: CACI International Inc Q1 FY20 Earnings Conference Call
CACI International Inc Q1 FY20 Earnings Conference Call October 31, 2019 CACI Proprietary Information
Slide 2: Forward-looking Statements
Forward-looking Statements There are statements made herein which 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 factors that could
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 Q1 FY20 Earnings Conference Call
Slide 4: Strong Start to FY20
Strong Start to FY20 Strong Q1 revenue growth of 16.9%, with 5.6% organic growth Strong Profitability Robust cash flow from operations1 Strong contract awards of $4.0 billion ~60% new business to CACI Raising FY20 guidance to include recent acquisitions 1 See slides at the end of this presentation f
Slide 5: New Framework for Understanding Our Business
New Framework for Understanding Our Business Capabilities enabling internal agency operations Capabilities enabling agency missions Deliver talent with Deliver talent with technical and functional knowledge technical and domain knowledge in support of agency operations in support of agency missions
Slide 6: Strong Award Activity across Enterprise and Mission
Strong Award Activity across Enterprise and Mission Nearly five-year, $385 million ceiling value task order to support the U.S. Navy’s MyNavy Human Resources (HR) Transformation − Enterprise Technology – implementing business systems − Illustrates value of our talent, proven methodologies, Agile Sol
Slide 7: Continuing to Invest for Growth through M&A
Continuing to Invest for Growth through M&A Three acquisitions closed this past week Next Century Corporation − Mission Technology company delivering advanced geospatial mapping, predictive analytics, data fusion, and machine learning to the Intelligence Community and DoD Linndustries Shielding Spec
Slide 8: Positive Market Environment and Budget Trends
Positive Market Environment and Budget Trends Capabilities well-aligned with critical national security and modernization priorities − Electronic warfare (EW), cyber, communications, and space − IT systems and infrastructure modernization − CACI alignment evidenced by strong contract awards Positive
Slide 9: Q1 FY20 Revenue and Net Income
Q1 FY20 Revenue and Net Income Revenue (Ms) Driven by acquired revenue, new business $1,500 wins, and on-contract growth $1,363 +17% $1,300 $1,166 Organic growth increased to 5.6% $1,100 $900 $700 $500 Q1 FY19 Q1 FY20 Net Income (Ms) In-line with expectations and FY20 plan $100 $79 -14% For comparis
Slide 10: Strong Cash Generation and Ample Debt Capacity
Strong Cash Generation and Ample Debt Capacity Q1 cash flow from operations of $114.6 million1, up 38% year-over-year 1 Operating Cash Flow and CapEx (millions, TTM) $400 $350 Days Sales Outstanding of 59 days $300 (excluding A/R facility) $250 $200 Pro Forma Leverage of 3.0x2 $150 (3.3x after
Slide 11: Raising FY20 Guidance
Raising FY20 Guidance Prior Guidance Current Guidance Revenue $5,500 – $5,700 $5,550 – $5,750 Three recent acquisitions (millions) expected to contribute $50M in revenue and Net Income $3M in net income (millions) $295 – $315 $298 – $318 Diluted shares outstanding expected to be 25.6M Diluted EPS $1
Slide 12: Positive Forward Indicators
Positive Forward Indicators 94% STRONG Record Q1 FY20 contract awards of $4.0 billion Existing Business Performance TTM Book-to-Bill increased to 2.3x Record backlog of $19.5 billion, +49% YoY 4% HIGH Pipeline of submitted bids totals $7.5 billion Recompetes Win Rate >80% for new business to CACI Bi
Slide 13: Continuing to Deliver Results and Meet Commitments
Continuing to Deliver Results and Meet Commitments Successfully executing our strategy Delivered strong financial performance across all measures in Q1 Deploying robust cash flow with accretive, capability-enhancing M&A Raising FY20 guidance, continue to expect increasing organic growth and margin e
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 facility) as net cash provided by operating activities calculated in accordance with GAAP, adjusted to exclude net cash received from C
Slide 15: Reconciliation of Net Cash Provided by Operating Activities
Reconciliation of Net Cash Provided by Operating Activities to Net Cash Provided by Operating Activities Excluding MARPA Facility Quarter Ended (dollars in thousands) 9/30/2019 Net cash provided by operating activities $ 103,204 Cash used (provided) by MARPA facility 11,424 Net cash provided by oper
Slide 16: Adjusted EBITDA Reconciliation
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) Quarter Ended (dollars in thousands) 9/30/2019 9/30/2018 % Change Net income $ 67,977 $ 78,833 -13.8% Plus: Income taxes 15,369 11,881 29.4% Interest income and expense, net 16,811 8,886 89.2% Depreciation and