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CACI Grabs $526M US Army Contract for Network Modernization
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CACI International Inc. (CACI - Free Report) has clinched a substantial five-year, $526 million task order for modernizing the U.S. Army’s Program Executive Office Command Control Communications-Tactical (PEO-C3T) network infrastructure. The contract has been allocated under the Global Enterprise Network Modernization (“GENMOD”) task order, which is part of the Alliant 2 indefinite delivery, indefinite quantity (IDIQ) contract vehicle.
This transformative endeavor underscores CACI's pivotal role in bolstering national defense through state-of-the-art network technology. CACI president and CEO John Mengucci stresses the urgency of transitioning the Army to a unified, resilient and agile digital infrastructure to effectively counter evolving threats.
Under GENMOD, CACI commits to delivering an integrated, high-speed network solution, spanning the U.S. Army's enterprise IT infrastructure and facilities in the Pacific and Southwest Asia. The initiative encompasses a comprehensive overhaul, including the integration of software-defined technology, ensuring secure remote access and optimizing command center capabilities. This landmark contract reaffirms CACI's commitment to advancing military capabilities and positions the company as a key contributor to national security.
CACI International has been benefiting from new business wins from the U.S. defense departments. Air Force & Army, NASA, National Geospatial-Intelligence Agency (“NGA”) and DARPA. Last week, the company won a contract from the Defense Intelligence Agency (“DIA") for providing technology to the office of the chief information officer. Under this eight-year deal, CACI will cover various intelligence activities across the DIA that include system design, engineering, implementation and maintenance of the latter’s network infrastructure.
In 2023, CACI secured multiple contracts from various government agencies. Among them were a C5ISR Task Order supporting the U.S. Army through the RS3 IDIQ contract worth $420 million, a contract for spaceflight systems, simulation and software at Johnson Space Center for four years by NASA, a contract providing C5ISR Support to the U.S. Naval Air Warfare Center Aircraft Division worth $125 million and another IDIQ contract with the U.S. Naval Information Warfare Systems Command for seven years.
Other government contract wins in 2023 comprise a $64 million contract for deploying hardware and systems engineering for the Air Force Distributed Common Ground System and a $917 million contract to advance C5ISR with the Air Force Research Laboratory. Such contract wins also include a $2.7 billion contract with the National Security Agency, a $209 million contract aimed at Fleet Readiness and continued global logistics and training with the U.S. Navy and a $5.7 billion contract to provide Enterprise Information Technology as a Service to the U.S. Air Force.
CACI gains an advantage from having the government as a major client, which brings stability to the business and helps smooth out fluctuations in revenues. These back-to-back wins are the key catalysts for the company, which boasts a large pipeline of new projects and wins deals at regular intervals. In the first quarter of fiscal 2024, the company won contracts worth $3.1 billion and ended the quarter with a total backlog of $26.7 billion.
Zacks Rank & Stocks to Consider
Currently, CACI carries a Zacks Rank #3 (Hold). Shares of CACI have soared 16.6% over the past year.
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The Zacks Consensus Estimate for Amazon’s 2023 earnings has been revised upward by 2 cents to $2.69 per share in the past 60 days, which calls for an increase of 278.9% on a year-over-year basis. The long-term expected earnings growth rate for the stock is pegged at 28.5%. AMZN stock has returned 61.3% over the past year.
The consensus mark for NVIDIA’s fiscal 2024 earnings has been revised upward by 2 cents to $12.31 per share over the past 30 days, indicating a whopping 269% increase from fiscal 2023. It has a long-term earnings growth expectation of 13.5%. In the trailing 12 months, NVDA stock has surged 210%.
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CACI Grabs $526M US Army Contract for Network Modernization
CACI International Inc. (CACI - Free Report) has clinched a substantial five-year, $526 million task order for modernizing the U.S. Army’s Program Executive Office Command Control Communications-Tactical (PEO-C3T) network infrastructure. The contract has been allocated under the Global Enterprise Network Modernization (“GENMOD”) task order, which is part of the Alliant 2 indefinite delivery, indefinite quantity (IDIQ) contract vehicle.
This transformative endeavor underscores CACI's pivotal role in bolstering national defense through state-of-the-art network technology. CACI president and CEO John Mengucci stresses the urgency of transitioning the Army to a unified, resilient and agile digital infrastructure to effectively counter evolving threats.
Under GENMOD, CACI commits to delivering an integrated, high-speed network solution, spanning the U.S. Army's enterprise IT infrastructure and facilities in the Pacific and Southwest Asia. The initiative encompasses a comprehensive overhaul, including the integration of software-defined technology, ensuring secure remote access and optimizing command center capabilities. This landmark contract reaffirms CACI's commitment to advancing military capabilities and positions the company as a key contributor to national security.
CACI International, Inc. Price and Consensus
CACI International, Inc. price-consensus-chart | CACI International, Inc. Quote
Continuous Flow of Contracts
CACI International has been benefiting from new business wins from the U.S. defense departments. Air Force & Army, NASA, National Geospatial-Intelligence Agency (“NGA”) and DARPA. Last week, the company won a contract from the Defense Intelligence Agency (“DIA") for providing technology to the office of the chief information officer. Under this eight-year deal, CACI will cover various intelligence activities across the DIA that include system design, engineering, implementation and maintenance of the latter’s network infrastructure.
In 2023, CACI secured multiple contracts from various government agencies. Among them were a C5ISR Task Order supporting the U.S. Army through the RS3 IDIQ contract worth $420 million, a contract for spaceflight systems, simulation and software at Johnson Space Center for four years by NASA, a contract providing C5ISR Support to the U.S. Naval Air Warfare Center Aircraft Division worth $125 million and another IDIQ contract with the U.S. Naval Information Warfare Systems Command for seven years.
Other government contract wins in 2023 comprise a $64 million contract for deploying hardware and systems engineering for the Air Force Distributed Common Ground System and a $917 million contract to advance C5ISR with the Air Force Research Laboratory. Such contract wins also include a $2.7 billion contract with the National Security Agency, a $209 million contract aimed at Fleet Readiness and continued global logistics and training with the U.S. Navy and a $5.7 billion contract to provide Enterprise Information Technology as a Service to the U.S. Air Force.
CACI gains an advantage from having the government as a major client, which brings stability to the business and helps smooth out fluctuations in revenues. These back-to-back wins are the key catalysts for the company, which boasts a large pipeline of new projects and wins deals at regular intervals. In the first quarter of fiscal 2024, the company won contracts worth $3.1 billion and ended the quarter with a total backlog of $26.7 billion.
Zacks Rank & Stocks to Consider
Currently, CACI carries a Zacks Rank #3 (Hold). Shares of CACI have soared 16.6% over the past year.
Some better-ranked stocks from the broader technology sector are Zoom Video Communications Inc. (ZM - Free Report) , Amazon.com (AMZN - Free Report) and NVIDIA Corporation (NVDA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Zoom’s fiscal 2024 earnings has been revised upward by 3 cents to $4.94 per share in the past 60 days, suggesting year-over-year growth of 13%. The long-term estimated earnings growth rate for the stock stands at 33.5%. Shares of ZM have risen 1.2% over the past year.
The Zacks Consensus Estimate for Amazon’s 2023 earnings has been revised upward by 2 cents to $2.69 per share in the past 60 days, which calls for an increase of 278.9% on a year-over-year basis. The long-term expected earnings growth rate for the stock is pegged at 28.5%. AMZN stock has returned 61.3% over the past year.
The consensus mark for NVIDIA’s fiscal 2024 earnings has been revised upward by 2 cents to $12.31 per share over the past 30 days, indicating a whopping 269% increase from fiscal 2023. It has a long-term earnings growth expectation of 13.5%. In the trailing 12 months, NVDA stock has surged 210%.