CACI Reports Results for Its Fiscal 2027 First Quarter

Funded backlog grew 14.8%, while quarterly free cash flow declined 6.6% as higher working capital weighed on operating cash generation.

Rhea-AI Summary

CACI International (NYSE: CACI) raised its fiscal 2027 revenue and adjusted earnings outlook after reporting first-quarter revenue growth of 8.2%. Revenue for the quarter ended September 30, 2026, was $2,474.6 million, including 2.1% organic growth. Net income rose 4.5% to $130.4 million, and diluted earnings per share increased 3.7% to $5.84. Adjusted diluted earnings per share rose 11.8% to $7.66.

Contract awards totaled $4.8 billion, with approximately 61% representing new business. Funded backlog increased 14.8% to $6.2 billion. Free cash flow, a non-GAAP measure, fell 6.6% to $133.5 million. CACI now expects fiscal 2027 revenue of $10,700–$10,900 million and adjusted diluted earnings per share of $33.18–$34.08, while reaffirming free cash flow guidance of at least $900 million.

24 points · 1 major

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0 major · 6 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 revenue guidance increased to $10,700–$10,900 million from $10,650–$10,850 million.
• Moderate pointRevenue of $2,474.6 million increased 8.2% year over year, including 2.1% organic growth.
• Moderate pointOperating income of $247.5 million increased 16.6% year over year.
• Moderate pointNet income of $130.4 million rose 4.5%; diluted earnings per share increased 3.7% to $5.84.
• Moderate pointAdjusted net income of $171.0 million rose 12.7%; adjusted diluted earnings per share increased 11.8% to $7.66.
• Moderate pointEBITDA of $328.8 million increased 22.4%, with a 13.3% margin; both measures are non-GAAP.
• Moderate pointQuarterly contract awards of $4.8 billion produced 2.0x book-to-bill; approximately 61% represented new business. 36% of market cap
• Moderate pointFunded backlog of $6.2 billion increased 14.8% year over year at September 30, 2026.
• Moderate pointUSCENTCOM award has a $1.5 billion ceiling, with $1.2 billion recognized in quarterly awards and backlog. 11% of market cap
• Moderate pointUSASOC five-year, $1.6 billion task order contributed $1.2 billion to quarterly awards and backlog. 12% of market cap

14 minor points

• Minor point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 adjusted net income guidance increased to $740–$760 million from $735–$755 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 adjusted diluted EPS guidance increased to $33.18–$34.08 from $32.96–$33.86.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 free cash flow guidance remains at least $900 million, a non-GAAP measure.
• Minor pointTotal backlog of $34.0 billion increased 0.3% year over year at September 30, 2026.
• Minor pointNSWC Crane five-year task order is valued at up to $281 million for electromagnetic warfare support.
• Minor pointArmy PM E2S2 five-year task order is valued at up to $185 million.
• Minor pointArmy DEVCOM task order ceiling increase is valued at up to $153 million for unmanned systems support.
• Minor pointNSWCCD four-year task order is valued at up to $146 million for maritime capabilities.
• Minor pointGovernment customer IT contract received a 12-month extension for development, sustainment and modernization.
• Minor pointFederal financial management modernization secured a five-year task order.
• Minor pointGovernment communications sustainment and modernization secured a three and a half-year contract.
• Minor pointDepartment of War financial management systems secured a five-year sustainment and modernization contract.
• Minor pointSpace Force NITE-STAR contract selected CACI as one of 15 awardees.
• Minor pointNew defense electronics manufacturing facility added 61,000 square feet, increasing manufacturing space by more than 300%.

Negative

• Moderate pointFree cash flow of $133.5 million declined 6.6% year over year; this is a non-GAAP measure.
• Moderate pointOperating cash flow excluding MARPA fell 9.5% to $144.8 million, primarily from higher working capital.
• Moderate pointInterest expense and other, net increased 58.6% to $73,240 thousand year over year.
• Minor pointDays sales outstanding increased to 59 from 56, excluding the receivables purchase agreement's impact.
• Minor pointTotal costs of revenues increased 7.3% to $2,227,069 thousand year over year.
• Minor pointIncome taxes increased 6.4% to $43,921 thousand year over year.

News Explained

Total backlog grew 0.3% year over year, against 14.8% growth in funded backlog to $6.2 billion.

Among the quarter’s reported awards, CACI cited a USCENTCOM award with a $1.5 billion ceiling, but recognized $1.2 billion of award and backlog value based on current requirements.

At September 30, 2026, total backlog was $34.0 billion, up 0.3% year over year, while funded backlog was $6.2 billion, up 14.8%; the reported growth was concentrated in the funded portion while total backlog was nearly flat.

Key Figures

Revenue: $2,474.6 million; up 8.2% YoY Adjusted diluted EPS: $7.66; up 11.8% YoY Free cash flow: $133.5 million; down 6.6% +5 more

Revenue

$2,474.6 million; up 8.2% YoY

Fiscal 2027 first quarter

Adjusted diluted EPS

$7.66; up 11.8% YoY

Fiscal 2027 first quarter

Free cash flow

$133.5 million; down 6.6%

Fiscal 2027 first quarter

Contract awards

$4.8 billion

Fiscal 2027 first quarter

Funded backlog

$6.2 billion; up 14.8%

As of September 30, 2026, compared with a year earlier

Revenue guidance

$10,700–$10,900 million, versus prior guidance of $10,650–$10,850 million

Fiscal year 2027

Adjusted net income guidance

$740–$760 million, versus prior guidance of $735–$755 million

Fiscal year 2027

Adjusted diluted EPS guidance

$33.18–$34.08, versus prior guidance of $32.96–$33.86

Fiscal year 2027

Historical Context

1 past event · Latest: Sep 16

1 event

1. Sep 16

   Contract award

   24h Move

   +0.6%

   Prior USCENTCOM award terms set a $1.5 billion ceiling and $1.2 billion expected booking.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ebitda, non-gaap, book-to-bill, days sales outstanding

4 terms

ebitda financial

"Earnings before interest, taxes, depreciation and amortization (EBITDA)"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

non-gaap financial

"Adjusted net income, a non-GAAP measure"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

book-to-bill financial

"book-to-bill of 2.0x"

The book-to-bill ratio compares new orders a company has received (bookings) to the products or services it has invoiced or shipped (billings) over the same period. It matters to investors because a ratio above 1 means demand is outpacing fulfillment and the company may grow revenue or build backlog, while a ratio below 1 suggests slowing demand and possible future revenue weakness — think of it as new customer orders versus what the company actually sold.

days sales outstanding financial

"Days sales outstanding (DSO)"

Days Sales Outstanding (DSO) measures the average number of days a company takes to collect payment after making a sale. It tells investors how quickly sales are turning into cash—shorter DSO means the company gets paid faster and has more cash on hand, while longer DSO suggests cash is tied up with customers and increases the risk of late or lost payments; think of it like how long a borrower takes to repay a loan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Revenues of $2.5 billion, up 8.2% YoY

Net income of $130.4 million; Diluted EPS of $5.84, up 3.7% YoY

Adjusted net income of $171.0 million; Adjusted diluted EPS of $7.66, up 11.8% YoY

EBITDA of $328.8 million and EBITDA margin of 13.3%

Contract awards of $4.8 billion and book-to-bill of 2.0x

Raising fiscal year 2027 guidance for Revenue, Adjusted net income, and Adjusted EPS;
reaffirming guidance for other financial metrics

RESTON, Va., Oct. 21, 2026 /PRNewswire/ -- CACI International Inc (NYSE: CACI) announced results today for its fiscal first quarter ended September 30, 2026.

"Our first quarter results represent a strong start to fiscal year 2027, highlighted by revenue and EBITDA growth, strong EBITDA margin, and healthy free cash flow. We also delivered a 2.0x book-to-bill and another quarter of double-digit funded backlog growth. Our mission proximity, software-defined approach, ability to invest ahead of customer need, and superior execution continue to differentiate CACI and drive our performance," said John Mengucci, CACI President and Chief Executive Officer. "Based on our results, large and growing backlog, and healthy pipeline, we are raising our fiscal year 2027 revenue and earnings profit outlook while reaffirming guidance for other financial metrics. We remain confident in our ability to drive long-term growth in free cash flow per share and deliver exceptional value for our customers and shareholders."

First Quarter Results

																																			Three months ended
(in millions, except earnings per share and DSO)																																			9/30/2026		9/30/2025		% Change1
Revenues																																			$     2,474.6		$     2,287.6		8.2 %
Income from operations																																			$        247.5		$        212.3		16.6 %
Net income																																			$        130.4		$        124.8		4.5 %
Adjusted net income, a non-GAAP measure2																																			$        171.0		$        151.7		12.7 %
Diluted earnings per share																																			$          5.84		$          5.63		3.7 %
Adjusted diluted earnings per share, a non-GAAP measure2																																			$          7.66		$          6.85		11.8 %
Earnings before interest, taxes, depreciation and amortization (EBITDA), a non-GAAP measure2																																			$        328.8		$        268.6		22.4 %
Net cash provided by operating activities excluding MARPA, a non-GAAP measure2																																			$        144.8		$        160.0		(9.5) %
Free cash flow, a non-GAAP measure2																																			$        133.5		$        143.0		(6.6) %
Days sales outstanding (DSO)3																																			59		56
(1)	Percentages are calculated using the underlying whole dollar amounts. Some percentages may vary slightly due to rounding.
(2)	This non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.
(3)	The DSO calculations for three months ended September 30, 2026 and 2025 exclude the impact of the Company's Master Accounts Receivable Purchase Agreement (MARPA), which was 7 days for both periods.

Revenues in the first quarter of fiscal year 2027 increased 8.2% year-over-year, including 2.1% organic growth. The increase in income from operations was driven by higher revenues and gross profit. Growth in diluted earnings per share and adjusted diluted earnings per share were driven by higher income from operations, partially offset by higher interest expense and a higher tax provision. The decrease in cash from operations, excluding MARPA, was driven primarily by higher working capital.

First Quarter Contract Awards
Contract awards in the first quarter totaled $4.8 billion, with approximately 61% for new business to CACI. Awards exclude ceiling values of multi-award, indefinite delivery, indefinite quantity contracts. Some notable awards during the quarter were:

• CACI was awarded a one-year plus four option periods award to support U.S. Central Command (USCENTCOM) and its mission partners across a demanding and rapidly changing mission environment. The award has a ceiling of $1.5 billion, of which CACI recognized $1.2 billion of award and backlog value based on current requirements in the first quarter of fiscal year 2027. Through Apollo, CACI will help USCENTCOM make faster decisions and coordinate more effectively across commands and partners. The company's capabilities will enhance planning, analysis, information integration, and mission execution across the command's area of responsibility. CACI will help commanders turn information into actionable insight and operate with greater confidence in contested or denied territories, allowing warfighters to out-compete adversaries in the information environment.
• CACI was awarded a five-year, $1.6 billion task order to continue to help the U.S. Army Special Operations Command (USASOC) stay ahead of emerging threats across every domain. CACI recognized $1.2 billion of award and backlog value based on current requirements in the first quarter of fiscal year 2027. Through the Special Operations Forces Emerging Threats, Operations, and Planning Support 2 (SOFETOPS 2) program, CACI will continue providing critical operational planning and support that strengthens USASOC's ability to act decisively and work seamlessly with its strategic partners wherever the mission requires.
• CACI was awarded a five-year task order valued at up to $281 million by the U.S. Navy's Naval Surface Warfare Center (NSWC) Crane to support in strengthening and advancing next-generation electromagnetic warfare capabilities across the Department of War (DoW).
• CACI was awarded a 12-month extension to provide information technology system development, sustainment, and modernization to a government customer.
• CACI was awarded a five-year task order valued at up to $185 million to support the U.S. Army's Program Manager Expeditionary Energy and Sustainment Systems (PM E2S2). CACI will develop and integrate technologies that help soldiers sustain operations in contested and austere environments.
• CACI was awarded a task order ceiling increase valued at up to $153 million to continue providing unmanned systems support to the U.S. Army Combat Capabilities Development Command (DEVCOM) – Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance, and Reconnaissance (C5ISR) Center to enable warfighter rapid response to current and emerging threats.
• CACI was awarded a five-year task order to modernize financial management systems for a federal customer.
• CACI was awarded a three and a half-year contract to provide communications sustainment and modernization for a government customer.
• CACI was awarded a four-year task order valued at up to $146 million to support the Naval Surface Warfare Center Carderock Division (NSWCCD) in advancing next-generation maritime capabilities for the U.S. Navy.
• CACI was awarded a five-year contract to sustain and modernize financial management systems for a Department of War customer.

Total backlog as of September 30, 2026, was $34.0 billion compared with $33.9 billion a year ago, an increase of 0.3%. Funded backlog as of September 30, 2026, was $6.2 billion compared with $5.4 billion a year ago, an increase of 14.8%.

Additional Highlights

• CACI was selected as one of 15 awardees to deliver technology that will defend U.S. interests against adversarial threats for the U.S. Space Force. Under the National Space Test and Training Complex (NSTTC) Innovative Technology & Engineering – Space Test and Range (NITE‑STAR) contract, CACI will deliver critical technology advancements that strengthen and modernize the test and training architectures required for realistic operations.
• CACI officially opened the CACI Manufacturing Center of Excellence for Defense Electronics in the Greater Rochester, New York, area, marking the next chapter in the company's long-term investment in the region and continued transformation into a technology-first national security company. The additional 61,000-square-foot facility increases CACI's manufacturing space by more than 300% and will serve as a hub for the development, test, assembly, and delivery of advanced electronic warfare technologies that give U.S. forces a decisive advantage in contested environments.
• CACI announced that Marcie Small has been appointed Executive Vice President and Chief Human Resources Officer. Small succeeds Angie Combs, who retired from the company after more than seven years of service. With more than 25 years of leadership experience in human capital management, Small has a proven track record of modernizing talent strategies, developing leaders, and building high-performing workforces.
• CACI announced the launch of Good Dogs for Great Americans, the company's signature philanthropy program dedicated to helping veterans regain independence through specially trained service dogs. In partnership with the Washington Capitals and America's VetDogs, the program turns defense on the ice into life-changing support for those who defended our nation.

Fiscal Year 2027 Guidance
The table below summarizes our fiscal year 2027 guidance and represents our views as of October 21, 2026.

(in millions, except earnings per share)																												Fiscal Year 2027
																												Current guidance		Prior guidance
Revenues																												$10,700 - $10,900		$10,650 - $10,850
Adjusted net income, a non-GAAP measure1																												$740 - $760		$735 - $755
Adjusted diluted earnings per share, a non-GAAP measure1																												$33.18 - $34.08		$32.96 - $33.86
Diluted weighted average shares																												22.3		22.3
Free cash flow, a non-GAAP measure2																												At least $900		At least $900
(1)	Adjusted net income and adjusted diluted earnings per share are defined as GAAP net income and GAAP diluted EPS, respectively, excluding intangible amortization expense and the related tax impact. This non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.
(2)	Free cash flow is defined as net cash provided by operating activities excluding MARPA, less payments for capital expenditures. This non-GAAP  measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP.

Conference Call Information
We have scheduled a conference call for 8:00 a.m. Eastern time Thursday, October 22, 2026, during which members of our senior management will be making a brief presentation focusing on first quarter results and operating trends, followed by a question-and-answer session. You can listen to the webcast and view additional information provided in the accompanying slide exhibits on CACI's investor relations website at http://investor.caci.com/events/default.aspx at the scheduled time. A replay of the call will also be available on CACI's investor relations website at http://investor.caci.com/. 

About CACI
CACI International Inc (NYSE: CACI) is a technology-first national security company that expands the limits of national security through innovation, discipline, and operational excellence. We deliver advanced technologies that help our customers move faster, operate more efficiently, and anticipate and defeat evolving threats. Our 27,000 talented employees and strong culture drive our success and have earned CACI recognition as a Fortune World's Most Admired Company. CACI is a member of the Fortune 500™, the Russell 1000 Index, and the S&P MidCap 400 Index. For more information, visit caci.com.

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 could cause actual results to be materially different from anticipated results. These risk factors include, but are not limited to, the following: our reliance on U.S. government contracts, which includes general risk around the government contract procurement process (such as bid protest, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; significant delays or reductions in appropriations for our programs and broader changes in U.S. government funding and spending patterns; legislation that amends or changes discretionary spending levels or budget priorities, such as for homeland security or to address global pandemics; legal, regulatory, and political change from successive presidential administrations that could result in economic uncertainty; changes in U.S. federal agencies, current agreements with other nations, foreign events, or any other events which may affect the global economy, including the impact of global pandemics; the results of government audits and reviews conducted by the Defense Contract Audit Agency, the Defense Contract Management Agency, or other governmental entities with cognizant oversight; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); failure to achieve contract awards in connection with re-competes for present business and/or competition for new business; regional and national economic conditions in the United States and globally, including but not limited to: terrorist activities or war, changes in interest rates, currency fluctuations, significant fluctuations in the equity markets, and market speculation regarding our continued independence; our ability to meet contractual performance obligations, including technologically complex obligations dependent on factors not wholly within our control; limited access to certain facilities required for us to perform our work, including during a global pandemic; changes in tax law, the interpretation of associated rules and regulations, or any other events impacting our effective tax rate; changes in technology; the potential impact of the announcement or consummation of a proposed transaction and our ability to successfully integrate the operations of our recent and any future acquisitions; our ability to achieve the objectives of near term or long-term business plans; the effects of health epidemics, pandemics and similar outbreaks may have material adverse effects on our business, financial position, results of operations and/or cash flows; and other risks described in our Securities and Exchange Commission filings.

Corporate Communications and Media:		Investor Relations:
Gino Bona, Executive Vice President, Corporate Communications		George Price, Senior Vice President, Investor Relations
(571) 597-2787, gino.bona@caci.com		(703) 841-7818, george.price@caci.com

 

CACI International Inc Consolidated Statements of Operations (Unaudited) (in thousands, except per share data)
	Three months ended
	9/30/2026		9/30/2025		% Change
Revenues	$ 2,474,597		$ 2,287,623		8.2 %
Costs of revenues:
Direct costs	1,597,689		1,547,194		3.3
Indirect costs and selling expenses	550,113		473,856		16.1
Depreciation and amortization	79,267		54,298		46.0
Total costs of revenues	2,227,069		2,075,348		7.3
Income from operations	247,528		212,275		16.6
Interest expense and other, net	73,240		46,173		58.6
Income before income taxes	174,288		166,102		4.9
Income taxes	43,921		41,292		6.4
Net income	$   130,367		$   124,810		4.5 %
Basic earnings per share	$         5.90		$         5.67		4.1 %
Diluted earnings per share	$         5.84		$         5.63		3.7 %
Weighted-average basic shares outstanding	22,100		21,994		0.5 %
Weighted-average diluted shares outstanding	22,316		22,166		0.7 %

 

CACI International Inc  Consolidated Balance Sheets (Unaudited) (in thousands)
	9/30/2026		6/30/2026
ASSETS
Current assets:
Cash and cash equivalents	$      279,389		$      191,756
Accounts receivable, net	1,722,873		1,705,087
Prepaid expenses and other current assets	428,943		364,502
Total current assets	2,431,205		2,261,345
Goodwill	6,486,111		6,484,456
Intangible assets, net	2,018,764		2,072,991
Property, plant, and equipment, net	386,547		397,161
Operating lease right-of-use assets	390,617		381,980
Supplemental retirement savings plan assets	103,874		104,878
Other assets	130,417		116,833
Total assets	$  11,947,535		$  11,819,644
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt	$       46,750		$       46,750
Accounts payable	463,031		521,669
Accrued compensation and benefits	263,877		284,602
Other accrued expenses and current liabilities	732,931		670,911
Total current liabilities	1,506,589		1,523,932
Long-term debt, net of current portion	4,789,313		4,854,759
Supplemental retirement savings plan obligations, net of current portion	118,734		119,233
Deferred income taxes	407,454		376,580
Operating lease liabilities	447,236		431,769
Other liabilities	51,518		50,674
Total liabilities	7,320,844		7,356,947
Total shareholders' equity	4,626,691		4,462,697
Total liabilities and shareholders' equity	$  11,947,535		$  11,819,644

 

CACI International Inc Consolidated Statements of Cash Flows (Unaudited) (in thousands)
	Three months ended
	9/30/2026		9/30/2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$      130,367		$      124,810
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	79,267		54,298
Amortization of deferred financing costs	1,241		1,196
Stock-based compensation expense	21,711		14,691
Deferred income taxes	26,445		22,273
Other	3,077		—
Changes in operating assets and liabilities, net of effect of business acquisitions:
Accounts receivable, net	(17,797)		(15,967)
Prepaid expenses and other assets	(67,263)		(41,587)
Accounts payable and other accrued expenses	10,698		63,747
Accrued compensation and benefits	(20,346)		(41,443)
Income taxes	4,648		(11,456)
Operating lease liabilities, net	(9,725)		(1,418)
Long-term liabilities	(1,009)		1,921
Net cash provided by operating activities	161,314		171,065
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(11,359)		(17,014)
Acquisitions of businesses, net of cash acquired	5,000		15,800
Net cash used in investing activities	(6,359)		(1,214)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	1,211,500		541,000
Principal payments on borrowings	(1,278,188)		(682,688)
Proceeds from employee stock purchase plans	4,031		3,796
Repurchases of common stock	(4,406)		(4,085)
Payment of taxes for equity transactions	(71)		(261)
Net cash used in financing activities	(67,134)		(142,238)
Effect of exchange rate changes on cash and cash equivalents	(188)		(774)
Net change in cash and cash equivalents	87,633		26,839
Cash and cash equivalents, beginning of period	191,756		106,181
Cash and cash equivalents, end of period	$      279,389		$      133,020

	Revenues by Customer Type (Unaudited)
	Three months ended
(in thousands)	9/30/2026				9/30/2025				$ Change		% Change
Department of War	$ 1,354,257		54.8 %		$ 1,179,626		51.5 %		$   174,631		14.8 %
Intelligence Community	611,977		24.7		596,429		26.1		15,548		2.6
Federal civilian agencies	396,398		16.0		411,730		18.0		(15,332)		(3.7)
Commercial and other	111,965		4.5		99,838		4.4		12,127		12.1
Total	$ 2,474,597		100.0 %		$ 2,287,623		100.0 %		$   186,974		8.2 %

	Revenues by Contract Type (Unaudited)
	Three months ended
(in thousands)	9/30/2026				9/30/2025				$ Change		% Change
Cost-plus-fee	$ 1,306,307		52.8 %		$ 1,382,630		60.5 %		$   (76,323)		(5.5) %
Fixed-price	821,826		33.2		611,493		26.7		210,333		34.4
Time-and-materials	346,464		14.0		293,500		12.8		52,964		18.0
Total	$ 2,474,597		100.0 %		$ 2,287,623		100.0 %		$   186,974		8.2 %

	Revenues by Prime or Subcontractor (Unaudited)
	Three months ended
(in thousands)	9/30/2026				9/30/2025				$ Change		% Change
Prime Contractor	$ 2,209,244		89.3 %		$ 2,076,899		90.8 %		$   132,345		6.4 %
Subcontractor	265,353		10.7		210,724		9.2		54,629		25.9
Total	$ 2,474,597		100.0 %		$ 2,287,623		100.0 %		$   186,974		8.2 %

	Revenues by Technology or Expertise (Unaudited)
	Three months ended
(in thousands)	9/30/2026				9/30/2025				$ Change		% Change
Technology	$ 1,449,336		58.6 %		$ 1,300,732		56.9 %		$   148,604		11.4 %
Expertise	1,025,261		41.4		986,891		43.1		38,370		3.9
Total	$ 2,474,597		100.0 %		$ 2,287,623		100.0 %		$   186,974		8.2 %

	Contract Awards (Unaudited)
	Three months ended
(in thousands)	9/30/2026		9/30/2025		$ Change		% Change
Contract awards	$             4,828,329		$             4,998,684		$   (170,355)		(3.4) %
Note: Some percentages may vary slightly due to rounding.

Reconciliation of Net Income to Adjusted Net Income and Diluted EPS to Adjusted Diluted EPS (Unaudited)

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 not consider intangible amortization expense to be indicative of our operating performance. We believe that these performance measures provide management and investors with useful information in assessing trends in our ongoing operating performance, provide greater visibility in understanding the long-term financial performance of the Company, and allow investors to more easily compare our results to results of our peers. These non-GAAP measures should not be considered in isolation or as a substitute for performance measures prepared in accordance with GAAP.

					Three months ended
	(in thousands, except per share data)				9/30/2026		9/30/2025		% Change
	Net income, as reported				$  130,367		$  124,810		4.5 %
	Intangible amortization expense				54,313		36,033		50.7
	Tax effect of intangible amortization1				(13,723)		(9,104)		50.7
	Adjusted net income				$  170,957		$  151,739		12.7 %
					Three months ended
					9/30/2026		9/30/2025		% Change
	Diluted EPS, as reported				$      5.84		$      5.63		3.7 %
	Intangible amortization expense				2.43		1.63		49.1
	Tax effect of intangible amortization1				(0.61)		(0.41)		48.8
	Adjusted diluted EPS				$      7.66		$      6.85		11.8 %
					FY27 guidance range
	(in millions, except per share data)				Low end				High end
	Net income				$       579		---		$       599
	Intangible amortization expense				215		---		215
	Tax effect of intangible amortization1				(54)		---		(54)
	Adjusted net income				$       740		---		$       760
					FY27 guidance range
					Low end				High end
	Diluted EPS				$     25.96		---		$     26.86
	Intangible amortization expense				9.64		---		9.64
	Tax effect of intangible amortization1				(2.42)		---		(2.42)
	Adjusted diluted EPS				$     33.18		---		$     34.08
(1)      Calculation uses an assumed full year statutory tax rate of 25.3% on non-GAAP tax deductible adjustments for            September 30, 2026 and 2025.
Note:  Numbers may not sum due to rounding.

Reconciliation of Net Income to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (Unaudited)

The Company views EBITDA and EBITDA margin, both 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. EBITDA is a commonly used non-GAAP measure when comparing our results with those of other companies. We define EBITDA as GAAP net income plus net interest expense, income taxes, and depreciation and amortization expense (including depreciation within direct costs). We consider EBITDA to be a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business on a consistent basis across reporting periods, as it eliminates the effect of non-cash items such as depreciation of tangible assets and amortization of intangible assets primarily recognized in business combinations, which we do not believe are indicative of our operating performance. EBITDA margin is EBITDA divided by revenue. These non-GAAP measures should not be considered in isolation or as a substitute for performance measures prepared in accordance with GAAP.

		Three months ended
	(in thousands)	9/30/2026		9/30/2025		% Change
	Net income, as reported	$                 130,367		$                 124,810		4.5 %
	Plus:
	Income taxes	43,921		41,292		6.4
	Interest income and expense, net	73,240		46,173		58.6
	Depreciation and amortization expense, including amounts within direct costs	81,300		56,338		44.3
	EBITDA	$                 328,828		$                 268,613		22.4 %
		Three months ended
	(in thousands)	9/30/2026		9/30/2025		% Change
	Revenues, as reported	$              2,474,597		$              2,287,623		8.2 %
	EBITDA	328,828		268,613		22.4
	EBITDA margin	13.3 %		11.7 %

Reconciliation of Net Cash Provided by Operating Activities to Net Cash Provided by Operating Activities Excluding MARPA and to Free Cash Flow (Unaudited)

The Company defines net cash provided by operating activities excluding MARPA, a non-GAAP measure, as net cash provided by operating activities calculated in accordance with GAAP, adjusted to exclude cash flows from CACI's MARPA for the sale of certain designated eligible U.S. government receivables up to a maximum amount of $350.0 million. Free cash flow is a non-GAAP liquidity measure and may not be comparable to similarly titled measures used by other companies. The Company defines free cash flow as net cash provided by operating activities excluding MARPA, less payments for capital expenditures. The Company uses these non-GAAP measures to assess our ability to generate cash from our business operations and plan for future operating and capital actions. We believe these measures allow investors to more easily compare current period results to prior period results and to results of our peers. Free cash flow does not represent residual cash flows available for discretionary purposes and should not be used as a substitute for cash flow measures prepared in accordance with GAAP.

		Three months ended
	(in thousands)	9/30/2026		9/30/2025
	Net cash provided by operating activities, as reported	$   161,314		$   171,065
	Cash provided by MARPA	(16,466)		(11,091)
	Net cash provided by operating activities excluding MARPA	144,848		159,974
	Capital expenditures	(11,359)		(17,014)
	Free cash flow	$   133,489		$   142,960
		FY27 guidance
	(in millions)	Current		Prior
	Net cash provided by operating activities	$     1,015		$     1,015
	Cash provided by MARPA	—		—
	Net cash provided by operating activities excluding MARPA	1,015		1,015
	Capital expenditures	(115)		(115)
	Free cash flow	$        900		$        900

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SOURCE CACI International Inc

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were CACI's fiscal 2027 first-quarter earnings results?

CACI reported net income of $130.4 million and diluted earnings per share of $5.84 for the quarter ended September 30, 2026. Those figures increased 4.5% and 3.7%, respectively, year over year. Adjusted diluted earnings per share, a non-GAAP measure, increased 11.8% to $7.66.

What is CACI's updated fiscal 2027 guidance?

CACI expects revenue of $10,700–$10,900 million, adjusted net income of $740–$760 million and adjusted diluted earnings per share of $33.18–$34.08. The adjusted earnings measures are non-GAAP. Free cash flow guidance remains at least $900 million, and diluted weighted average share guidance remains 22.3 million.

How does CACI count contract awards in its fiscal 2027 first-quarter results?

CACI excludes ceiling values of multi-award, indefinite delivery, indefinite quantity contracts from reported contract awards. For the USCENTCOM and USASOC awards, CACI recognized $1.2 billion each in first-quarter award and backlog value based on current requirements, rather than their respective $1.5 billion ceiling and $1.6 billion task order value.