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CACI Set to Report Q1 Earnings: What's in the Offing?
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CACI International (CACI - Free Report) is scheduled to report first-quarter fiscal 2024 results on Oct 25.
The Zacks Consensus Estimate for first-quarter fiscal 2024 revenues is pegged at $1.69 billion, indicating an improvement of 5.1% from the year-ago quarter. The consensus mark for non-GAAP earnings stands at $4.52 per share, implying a 3.7% increase from the year-ago quarter’s earnings of $4.36 per share.
The company's earnings beat the Zacks Consensus Estimate thrice in the trailing four quarters while missing on one occasion, the average surprise being 4.1%.
Let’s see how things have shaped up before the upcoming announcement.
CACI's to-be-reported quarter's performance is likely to have benefited from its large pipeline of government projects. The company has been winning a record number of deals for a while, reflecting its disciplined business development actions, consistent operational excellence and high customer satisfaction. The reliability provided by CACI’s services makes it a preferred choice among contractors.
In the last reported financial results for the fourth quarter of fiscal 2023, CACI won contracts worth $2.3 billion. Management secured several notable deals, including a seven-year single-award indefinite delivery indefinite quantity mission technology contract, called Spectral, for the U.S. Navy’s Naval Information Warfare Systems Command. The contract has a ceiling value of $1.2 billion.
The company's total backlog as of Jun 30, 2023 was $25.8 billion. Back-to-back contract wins at regular intervals might have favored the to-be-reported quarter's performance.
Increasing organic revenue growth and continued margin expansion may be reflected in fiscal first-quarter results. Fixed-price contracts might have contributed to the first-quarter fiscal 2024 performance as well.
In terms of contract type, our model estimates suggest revenues from cost-plus-fee-type contracts, fixed-price contracts, and time and material-type contracts to increase year over year by 4.8%, 4.5% and 5.1% to $980 million, $503.5 million and $198.8 million, respectively.
In terms of the customer mix, we expect revenues from the Department of Defense and Commercial and Other to grow 10.3% and 2.3% to $1.21 billion and $88.4 million, respectively. However, we project Federal Civilian Agencies revenues to decline 8.9% to $386.1 million.
However, higher interest expenses are likely to have somewhat offset the benefits of the aforementioned factors. In the fourth quarter of fiscal 2023, the company’s interest expenses & others increased 114.4% on a year-over-year basis.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for CACI this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Though CACI carries a Zacks Rank #3 at present, it has an Earnings ESP of -0.59%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, Palantir Technologies (PLTR - Free Report) , Intel (INTC - Free Report) and ON Semiconductor (ON - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
Palantir carries a Zacks Rank #2 and has an Earnings ESP of +4.35%. The company is scheduled to report third-quarter 2023 results on Nov 2. Its earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, with the average surprise being 2.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Palantir’s third-quarter earnings stands at 6 cents per share, indicating a year-over-year improvement of 500%. It is estimated to report revenues of $555 million, which suggests an increase of approximately 16.1% from the year-ago quarter.
Intel is slated to report third-quarter 2023 results on Oct 26. The company has a Zacks Rank #2 and an Earnings ESP of +12.98% at present. Intel’s earnings beat the Zacks Consensus Estimate thrice in the trailing four quarters while missing on one occasion, the average surprise being 130.9%.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 21 cents per share, suggesting a decrease of 64.4% from the year-ago quarter’s earnings of 59 cents. Intel’s quarterly revenues are estimated to decline 12.1% year over year to $13.48 billion.
ON carries a Zacks Rank #2 and has an Earnings ESP of +1.00%. The company is scheduled to report third-quarter 2022 results on Oct 30. Its earnings surpassed the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 8.7%.
The Zacks Consensus Estimate for ON’s third-quarter earnings is pegged at $1.35 per share, indicating a year-over-year decrease of 6.9%. The consensus mark for revenues stands at $2.15 billion, suggesting a year-over-year decline of 2.1%.
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CACI Set to Report Q1 Earnings: What's in the Offing?
CACI International (CACI - Free Report) is scheduled to report first-quarter fiscal 2024 results on Oct 25.
The Zacks Consensus Estimate for first-quarter fiscal 2024 revenues is pegged at $1.69 billion, indicating an improvement of 5.1% from the year-ago quarter. The consensus mark for non-GAAP earnings stands at $4.52 per share, implying a 3.7% increase from the year-ago quarter’s earnings of $4.36 per share.
The company's earnings beat the Zacks Consensus Estimate thrice in the trailing four quarters while missing on one occasion, the average surprise being 4.1%.
Let’s see how things have shaped up before the upcoming announcement.
CACI International, Inc. Price and EPS Surprise
CACI International, Inc. price-eps-surprise | CACI International, Inc. Quote
Factors to Consider
CACI's to-be-reported quarter's performance is likely to have benefited from its large pipeline of government projects. The company has been winning a record number of deals for a while, reflecting its disciplined business development actions, consistent operational excellence and high customer satisfaction. The reliability provided by CACI’s services makes it a preferred choice among contractors.
In the last reported financial results for the fourth quarter of fiscal 2023, CACI won contracts worth $2.3 billion. Management secured several notable deals, including a seven-year single-award indefinite delivery indefinite quantity mission technology contract, called Spectral, for the U.S. Navy’s Naval Information Warfare Systems Command. The contract has a ceiling value of $1.2 billion.
The company's total backlog as of Jun 30, 2023 was $25.8 billion. Back-to-back contract wins at regular intervals might have favored the to-be-reported quarter's performance.
Increasing organic revenue growth and continued margin expansion may be reflected in fiscal first-quarter results. Fixed-price contracts might have contributed to the first-quarter fiscal 2024 performance as well.
In terms of contract type, our model estimates suggest revenues from cost-plus-fee-type contracts, fixed-price contracts, and time and material-type contracts to increase year over year by 4.8%, 4.5% and 5.1% to $980 million, $503.5 million and $198.8 million, respectively.
In terms of the customer mix, we expect revenues from the Department of Defense and Commercial and Other to grow 10.3% and 2.3% to $1.21 billion and $88.4 million, respectively. However, we project Federal Civilian Agencies revenues to decline 8.9% to $386.1 million.
However, higher interest expenses are likely to have somewhat offset the benefits of the aforementioned factors. In the fourth quarter of fiscal 2023, the company’s interest expenses & others increased 114.4% on a year-over-year basis.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for CACI this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Though CACI carries a Zacks Rank #3 at present, it has an Earnings ESP of -0.59%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, Palantir Technologies (PLTR - Free Report) , Intel (INTC - Free Report) and ON Semiconductor (ON - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
Palantir carries a Zacks Rank #2 and has an Earnings ESP of +4.35%. The company is scheduled to report third-quarter 2023 results on Nov 2. Its earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, with the average surprise being 2.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Palantir’s third-quarter earnings stands at 6 cents per share, indicating a year-over-year improvement of 500%. It is estimated to report revenues of $555 million, which suggests an increase of approximately 16.1% from the year-ago quarter.
Intel is slated to report third-quarter 2023 results on Oct 26. The company has a Zacks Rank #2 and an Earnings ESP of +12.98% at present. Intel’s earnings beat the Zacks Consensus Estimate thrice in the trailing four quarters while missing on one occasion, the average surprise being 130.9%.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 21 cents per share, suggesting a decrease of 64.4% from the year-ago quarter’s earnings of 59 cents. Intel’s quarterly revenues are estimated to decline 12.1% year over year to $13.48 billion.
ON carries a Zacks Rank #2 and has an Earnings ESP of +1.00%. The company is scheduled to report third-quarter 2022 results on Oct 30. Its earnings surpassed the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 8.7%.
The Zacks Consensus Estimate for ON’s third-quarter earnings is pegged at $1.35 per share, indicating a year-over-year decrease of 6.9%. The consensus mark for revenues stands at $2.15 billion, suggesting a year-over-year decline of 2.1%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.