Caci International, Inc. · NYSE:CACI
Caci International — Q1 FY2018 Earnings Presentation
14 slides from Caci International's earnings presentation, Nov 2, 2017
Slide 1: CACI International Inc First Quarter Fiscal Year 2018 Conference Call
CACI International Inc First Quarter Fiscal Year 2018 Conference Call November 2, 2017 INFORMATION DEPLOYED. SOLUTIONS ADVANCED. MISSIONS ACCOMPLISHED.
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: Our Participants Today
Our Participants Today Ken Asbury President and Chief Executive Officer John Mengucci Chief Operating Officer Tom Mutryn Chief Financial Officer DeEtte Gray President, U.S. Operations Greg Bradford Chief Executive Officer, CACI Limited in the UK INFORMATION DEPLOYED. SOLUTIONS ADVANCED. MISSIONS ACC
Slide 4: First Quarter Results
First Quarter Results Revenue up 1.2% with 1.1% organic revenue growth Net income up 14.7%; benefited from a tax reduction associated with share-based compensation accounting Cash from operations of $79.7 million, up 37.9% in the quarter Awards of $1.2 billion Contract funding orders of $1.5 billion
Slide 5: Current Market Positioning
Current Market Positioning Probability of a fully-appropriated FY18 budget before year- end • If enacted, will drive increased defense and intelligence spending Our strategy is working CACI will continue to be a strategic consolidator Expect to achieve our long-term financial goals • 1% - 4% organic
Slide 6: First Quarter Revenue and Net Income
First Quarter Revenue and Net Income Revenue Net Income $1,200.0 $45.0 $42.0 $1,100.0 $1,073.3 $1,085.8 $40.0 $ millions $ millions $1,000.0 $36.7 $35.0 $900.0 $800.0 $30.0 Q1'17 Q1'18 Q1'17 Q1'18 Driven primarily by new Driven by a lower-than- business wins planned tax rate as a result of excess ta
Slide 7: Continued Strong Cash Flow
Continued Strong Cash Flow Generated $80 million in operating cash flow for the quarter, up 38%; 190% of net income Net debt of ~$1.1 billion Net debt/TTM adjusted EBITDA of ~3.0 times Days sales outstanding – 64 days versus 59 days in Q4’17 $400 TTM TTM Operating Cash FlowFree % of Flow as a Cash 2
Slide 8: Revising FY18 Guidance
Revising FY18 Guidance Current Previous FY18 Guidance FY18 Guidance Revenue (millions) $4,350 - $4,500 $4,350 - $4,500 Net Income (millions) $171 - $179 $165 - $173 Diluted EPS $6.76 - $7.08 $6.52 - $6.84 Diluted shares (millions) 25.3 25.3 FY18 revenue expected to be flat to 3% above FY17 revenue F
Slide 9: Successful First Quarter
Successful First Quarter Third consecutive quarter of positive organic revenue growth Investing in strategic growth initiatives Contract awards of $1.2 billion, with 60% for new business to CACI Significant volume of recompete bridges 9 | CACI 1st Quarter Fiscal Year 2018 Conference Call | November
Slide 10: Forward Indicators are Strong
Forward Indicators are Strong FY18 Revenue Profile 89% EXISTING 7% RECOMPETES 4% NEW BUSINESS BUSINESS Well funded High win rate Strong pipeline Backlog of $11.1 billion, well over 2 years of revenue on a TTM basis Pipeline of submitted bids totals $6.5 billion ~72% for new business to CACI Bids exp
Slide 11: CEO Closing Comments
CEO Closing Comments A special thanks to CACI employees who, with their own homes damaged and families displaced by the hurricanes that impacted Texas, Florida, Puerto Rico, and the U.S. Virgin Islands, worked to bring customer mission capabilities back online immediately after the storm damage Demo
Slide 12: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures The Company views Adjusted EBITDA and Adjusted Net Income, all of which are defined as non-GAAP measures, as important indicators of performance, consistent with the manner in which management measures and forecasts the Company’s performance. Adjusted EBITDA is a com
Slide 13: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) Adjusted EBITDA is GAAP net income plus interest expense, income taxes, depreciation and amortization, earnout adjustments and other Quarter Ended (dollars in thousands) 9/30/2017 9/30/2
Slide 14: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures Adjusted Net Income Adjusted net income is GAAP net income plus stock-based compensation expense, depreciation and amortization, amortization of financing costs, and earnout adjustments, net of related tax effects Quarter Ended (dollars in thousands) 9/30/2017 9/30/2