CACI International Inc Q1 2026 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Colin Canfield - Cantor Fitzgerald LP - Analyst : Perhaps we could shed some light on early expectations for the FY27 request. I think we have kind of two camps forming up in terms of buy-side sentiment, one being that the step down from kind of reconciliation plus base implies -- it implies a step down year-on-year. And then another camp is that it's pretty insane to think that Congress would kind of imply a cut on defense budgets into a rising national security environment. So if you can shed some light on kind of where you expect kind of high-level budgets to go.

Question: Colin Canfield - Cantor Fitzgerald LP - Analyst : Got it. And then in terms of like Counter-UAS cyber electronic warfare contracts, I think investors have traditionally been conditioned to kind of large multiyear vehicles, but it seems like contracting officers are taking a more agile approach. So maybe if you can kind of talk about how you expect those contracts to be awarded as well as kind of the level of agility that is rewarding within folks like yourselves, [Epirus], AeroVironment, folks that kind of have commercially developed solutions in that domain.

Question: Gavin Parsons - UBS AG - Analyst : John, I know you always remind us, bookings are super lumpy, but obviously, a pretty strong booking quarter here. So I guess a two-part question. The submitted pipeline is down, but obviously (inaudible) those strong bookings. So as part of the question, does the simple math imply a very strong win rate on that conversion? And then second question, should we expect bookings to maybe take a breather over the next few quarters given the submitted pipeline is down a bit? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 23, 2025 / 12:00PM, CACI.N - Q1 2026 CACI International Inc Earnings Call

Question: Seth Seifman - JPMorgan Chase & Co - Analyst : The government shutdown. It appears some awards, especially funded were accelerated ahead of the shutdown. So should that mitigate some of the near-term impact? And is there some sort of length of the shutdown that presents a risk to guidance?

Question: Seth Seifman - JPMorgan Chase & Co - Analyst : Great. And then how does the hiring environment look over the last few months? And do shutdowns tend to impact the pool of applicants, whether there's more people coming from, say, like a federal agency that are applying or people are kind of scared off from the industry?

Question: Henry Roberts - Truist Securities - Analyst : It's Henry on for Tobey here. Maybe just to start, I thought I go back to Counter-UAS for a second, but I'm just curious if you could roughly quantify the full opportunity set for that space over the next 12 months, let's say? And then how much of that could be related to Golden Dome on the

Question: Henry Roberts - Truist Securities - Analyst : I appreciate the color there. And maybe just to follow up. The contract awarded in this past quarter. How much if any of those were due to reconciliation bill funding at this point? And a broader question, looking ahead, is [reconciliation] bill funding kind of one of the key difference makers that you're seeing in terms of funding priorities as the shutdown moves along, that differentiates you all from competitors?

Question: Gautam Khanna - Cowen and Company LLC - Analyst : Great results, guys. Wanted to ask two questions to follow up on some earlier ones. First, has there been any impact to the business from the shutdown with respect to either revenue, cash or unusually soft awards in the first of the quarter? And then I have a follow-up. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 23, 2025 / 12:00PM, CACI.N - Q1 2026 CACI International Inc Earnings Call

Question: Gautam Khanna - Cowen and Company LLC - Analyst : Okay. And just wanted to ask, given the environment maybe tougher for some of the peers in the space relative to CACI, have you seen any intensifying price competition. Maybe talk about the bids that you didn't prevail on, is that typically a price shootout? Or anything you've changed -- you've seen in terms of competitor behavior, if any?

Question: Conor Walters - Jefferies LLC - Analyst : Congrats on a great start to the year. Maybe just to start, it seems like the unchanged top line growth of 7% to 9% embeds stronger organic and perhaps around $40 million in lower acquired revenue. So curious, first, if I'm reading that correctly, but also if you could provide an update on the acquisition integration process.

Question: Conor Walters - Jefferies LLC - Analyst : That's helpful. And then maybe just one follow-up. You guys discussed the upside you're seeing from reconciliation funding for Golden Dome. You mentioned the EW potential there. Curious if any other areas you would call out as considerable opportunities in your portfolio tied to that? And then how you're thinking about the bid process and time line now that you're starting to see that money actually being spent?

Question: Louie DiPalma - William Blair Capital Partners - Analyst : Following the positive TLS Manpack developments, is CACI also well positioned for the US Army's modular mission payload plan for small drones with your Spectral Sieve and Kickflip? And related to this, how does the modular mission payload differ from how the Army is currently using Spectral Sieve on Puma or C100 drones?

Question: Louie DiPalma - William Blair Capital Partners - Analyst : Makes sense. How has the Navy Spectral program been progressing?

Question: Jan-Frans Engelbrecht - Robert W. Baird & Co Inc - Analyst : Congrats on the strong set of results. I wanted to talk a little bit about just the international opportunity. I think it's not something that you maybe highlight a lot. But just given where NATO budgets are going, now about the 3.5% of GDP and then there's the additional 1.5% bonus on top of that. Just sort of -- there's clearly capability gaps in the EU and in Europe and NATO as a whole. And is there anything you can highlight where maybe areas you guys are targeting in the next couple of years?

Question: Jan-Frans Engelbrecht - Robert W. Baird & Co Inc - Analyst : And just a quick follow-up. If you could just comment on the slide deck talks about the M&A pipeline expanding. Just any areas that you think that would sort of be a niche capability that you could fill. Just any comments on M&A just in the environment.

Question: Noah Poponak - Goldman Sachs Group Inc - Analyst : John, you spoke about -- or you alluded to kind of everyone at AUSA having counter UAS and it was like if you did 15 meetings, 12 had it and 10 led with it, which is pretty unusual. Is the funding coming down the pipeline that significant and can it move the needle for companies much larger than yours? And I know that you didn't want to quantify the forward on that, but can you give us the baseline of how much of the current revenue base is counter drone?

Question: Noah Poponak - Goldman Sachs Group Inc - Analyst : I Appreciate the detail there. If I could just ask one more question. Just hoping to better understand a little bit shutdown impact and shape of the year. Can you shed a little more light on how the government goes through deeming what is essential. The comments you made there at the beginning of the call are interesting. I thought it would have been more missed work in your 2Q that's just made up before the end of the year, but it sounds like that's not the case. And I think historically, you've had a 2Q that's pretty often flat sequentially versus 1Q, and then a back half that's up mid- to high single versus the first half. Is that still the shape of your '26?