CACI International Inc. (NYSE:CACI) Q4 2023 Earnings Conference Call August 10, 2023 8:30 AM ET

Company Participants

Daniel Leckburg - SVP, IR

John Mengucci - President, Chief Executive Officer

Jeffrey MacLauchlan - Executive Vice President, Chief Financial Officer

Conference Call Participants

Cai von Rumohr - TD Cowen.

Robert Spingarn - Melius Research

Peter Arment - Baird

Matt Akers - Wells Fargo

Bert Subin - Stifel

Seth Seifman - JPMorgan

Tobey Sommer - Truist.

David Strauss - Barclays

Mariana Perez Mora - Bank of America

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the CACI International Fourth Quarter and Fiscal Year 2023 Conference Call. Today’s call is being recorded. [Operator Instructions] At this time, 1I would like to turn the conference call over to Dan Leckburg, Senior Vice President of Investor Relations for CACI International. Please go ahead, sir.

Daniel Leckburg

Well, thank you, and good morning, everyone. I’m Dan Leckburg, Senior Vice President of Investor Relations for CACI International. Thank you for joining us this morning. We are providing presentation slides, so let’s move to Slide number 2. There will be statements in this call that do not address historical fact and as such, constitute forward-looking statements under current law. These statements reflect our views as of today and are subject to important factors that could cause our actual results to differ materially from anticipated.

Those factors are listed at the bottom of last night’s press release and are described in the company’s SEC filings. Our safe harbor statement is included on this exhibit and should be incorporated as part of any transcript of this call. I would also like to point out that our presentation will include discussion of non-GAAP financial measures. These should not be considered in isolation or as a substitute for performance measures prepared in accordance with GAAP.

Let’s turn to Slide 3, please. To open our discussion this morning, here is John Mengucci, President and Chief Executive Officer of CACI International. John?

John Mengucci

Thanks, Dan. And good morning, everyone. Thank you for joining us to discuss our fourth quarter and fiscal year ’23 results as well as our fiscal ’24 guidance. With me this morning is Jeff MacLauchlan, our Chief Financial Officer[Foreign Language]

Last night, we released our fourth quarter and full year results for fiscal year 2023, and I’m pleased with our performance. Simply put, CACI had a great year. For the full year, we delivered revenue growth of 8%, in line with our revenue guidance, which we increased last quarter. We delivered a sector-leading EBITDA margin of 10.7%, consistent with our guidance. We generated free cash flow of $282 million, and we won over $10 billion of contract awards, which represents a 1.5x book-to-bill for the year and includes $7.4 billion of new work a CACI. Slide 5, please. In fiscal ’23, CACI delivered strong awards and outstanding program performance. First, we won the $5.7 billion Enterprise IT as a service, or EITaaS contract, one of the Air Force’s highest priority IT modernization programs and by far the largest award in CACI’s history. We won EITaaS by leveraging our differentiated capabilities and extensive past performance.