CACI Offers Bullish FY18 Guidance, Reiterates FY17 View
Zacks Investment Research | Jun 22, 2017 08:55AM ET
Technical services provider, CACI International Inc. (NYSE:CACI) recently offered a relatively bullish guidance for fiscal 2018 beginning Jul 1, 2017 by factoring in the solid performance of the ongoing fiscal, healthy growth dynamics and enhanced capabilities to better serve its clients. The company also reiterated its guidance for fiscal 2017.
Outlook for FY18
For fiscal 2018, CACI expects revenues to be in the range of $4,350 million to $4,500 million with earnings of $165–$173 million or $6.52–$6.84 per share. Operating cash flow is expected to be over $280 million with capital expenditures to the tune of approximately $35–$40 million, driven by facility consolidation and information technology improvements.
CACI intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy and strengthening its existing customer relationships while building newer ones. In addition, the company anticipates benefitting significantly from its cost-reduction program.
FY17 Outlook Reiterated
For fiscal 2017, CACI reiterated its previous guidance and expects net income in the range of $157–$163 million on revenues of $4,275–$4,350 million. Earnings per share are expected to be between $6.25 and $6.49.
With a diligent execution of operational plans, CACI has outperformed the Zacks categorized Zacks Investment Research
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