CACI Beats Q1 EPS by $1.09, Raises FY27 Guidance; Revenue Misses
CACI International beat first-quarter adjusted EPS estimates by $1.09 but missed on revenue. It raised its fiscal 2027 revenue and EPS guidance and held its free cash flow outlook at $900 million or more.
CACI International (CACI) reported fiscal first-quarter adjusted earnings of $7.66 a share, $1.09 above the $6.57 consensus, on revenue of $2.47 billion that missed the $2.51 billion consensus by 1.4%. Revenue rose 8.2%, with organic growth of 2.1%. CACI raised its fiscal 2027 revenue and adjusted EPS guidance and held its free cash flow outlook at $900 million or more. Shares closed at $621.72, up $13.97, per the wire headline. Figures come from CACI's first-quarter release; see CACI Investor Relations.
First-quarter results
| Measure | Q1 FY27 | Comparison |
|---|---|---|
| Revenue | $2,474.6M | $2.51B consensus (miss of 1.4%); up 8.2%, organic +2.1% |
| Adjusted diluted EPS | $7.66 | $6.57 consensus (beat of $1.09); up 11.8% |
| GAAP diluted EPS | $5.84 | Up 3.7% |
| Income from operations | $247.5M | Up 16.6%; margin about 10.0% vs. 9.3% |
| Net income | $130.4M | Up 4.5% |
| Adjusted net income | $171.0M | Up 12.7% |
| EBITDA | $328.8M | Up 22.4%; 13.3% margin vs. 11.7% |
About 6 points of the 8.2% revenue growth came from acquisitions, by our calculation from the 2.1% organic figure. Interest expense and other, net, rose 58.6% to $73.2 million, which the release cites as the main drag on EPS growth alongside a higher tax provision. The effective tax rate was about 25.2% versus 24.9% a year ago, by our calculation.
Fiscal 2027 guidance raised
| Item | Prior (Aug. 5) | New | Consensus |
|---|---|---|---|
| Revenue | $10.65B–$10.85B | $10.70B–$10.90B | $10.77B |
| Adjusted net income | $735M–$755M | $740M–$760M | — |
| Adjusted diluted EPS | $32.96–$33.86 | $33.18–$34.08 | $33.23 |
| GAAP diluted EPS | — | $25.96–$26.86 | — |
| Free cash flow | At least $900M | At least $900M | — |
The midpoints rose by about $50 million for revenue and $0.22 for adjusted EPS, by our calculation; the prior ranges come from CACI's August 5 release. The wire headline calls guidance in line with consensus. By our calculation the new EPS midpoint of $33.63 is about 1.2% above the $33.23 consensus, and the $10.8 billion revenue midpoint is about 0.3% above $10.77 billion. CACI also guides to operating cash flow of $1,015 million and capital expenditures of $115 million, both unchanged, and 22.3 million diluted shares. Other consensus estimates cited are $7.42 of EPS and $2.54 billion of revenue for the second quarter, and $38.02 of EPS and $11.49 billion of revenue for fiscal 2028.
Awards and backlog
| Metric | Q1 FY27 | Change |
|---|---|---|
| Contract awards | $4.83B | −3.4% |
| Share of awards that was new business | About 61% | — |
| Book-to-bill | 2.0x | About 1.95x by our calculation |
| Total backlog | $34.0B | +0.3% |
| Funded backlog | $6.2B | +14.8% |
Notable awards included a U.S. Central Command award with a $1.5 billion ceiling, of which $1.2 billion went into backlog, and a five-year U.S. Special Operations Command task order worth $1.6 billion, with $1.2 billion recognized. CACI was also selected as one of 15 awardees on a U.S. Space Force contract.
Revenue mix
The Department of War was 54.8% of revenue, up 14.8%, the Intelligence Community 24.7% and federal civilian customers 16.0%, down 3.7%. Cost-plus-fee contracts fell to 52.8% of revenue from 60.5%, while fixed-price contracts rose to 33.2%.
Cash flow and balance sheet
Free cash flow was $133.5 million, down 6.6%, mainly on higher working capital, and days sales outstanding were 59 against 56 a year earlier. Operating cash flow was $161.3 million, or $144.8 million excluding receivables-purchase (MARPA) proceeds of $16.5 million. Total debt was about $4.84 billion against $279.4 million of cash, for net debt of about $4.56 billion, by our calculation, down from about $4.71 billion at June 30. CACI repurchased only $4.4 million of stock in the quarter. CEO John Mengucci called the results "a strong start to fiscal year 2027" and said CACI remains confident in its ability to "drive long-term growth in free cash flow per share."
Sources: CACI Investor Relations and CACI's August 5, 2026 results release. Consensus figures are as shown in the wire headline. This is informational, not a recommendation to buy or sell.
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