RESTON, Va. - CACI International Inc (NYSE: CACI), a prominent player in the national security arena, has announced the addition of Scott C. Morrison to its Board of Directors. Morrison, whose appointment is effective immediately, will serve as an independent director, bringing his extensive financial expertise and leadership experience to the company.
Morrison's professional background includes a significant tenure at Ball Corporation (NYSE:BALL), where he held various executive roles, culminating in his position as executive vice president and chief financial officer. His career at Ball spanned over two decades, marked by progressive responsibilities in financial management and operational leadership. Prior to Ball, Morrison had accumulated substantial experience in the banking sector, with senior positions at JPMorgan Chase (NYSE:JPM) and NBD Bank.
In addition to his new role at CACI, Morrison is also a director at Sensient Technologies (NYSE:SXT) Corporation, a global company specializing in the manufacture and marketing of specialty ingredients. His academic credentials include a bachelor's degree in finance from Indiana University Bloomington and an MBA from Wayne State University.
CACI Chairman of the Board, Mike Daniels, commended Morrison's election to the board, highlighting his "leadership experience and financial acumen" as invaluable assets that will support the company's ongoing success and growth.
The announcement comes as CACI continues to solidify its position in the defense and national security sectors. With a workforce of 24,000, CACI is known for its commitment to innovation and excellence, which has earned it a place among the Fortune World's Most Admired Companies and inclusion in the Fortune 1000 Largest Companies, the Russell 1000 Index, and the S&P MidCap 400 Index.
This news is based on a press release statement and incorporates Morrison's extensive background and the strategic significance of his appointment to CACI's Board of Directors.
In other recent news, CACI International has been making significant strides in its operations and financial performance. The company secured a $805 million task order for the U.S. Navy's NavalX Office, along with other substantial task orders valued at $314 million and $273 million from the U.S. Navy and U.S. Army Intelligence and Security Command respectively. These orders are intended to support research, analysis, engineering, prototyping, and assessments to develop and integrate modern digital tools for the Navy.
In terms of acquisitions, CACI completed the purchase of Applied Insight, bolstering its cloud migration and transformation services. It also announced plans to acquire Azure Summit Technology for $1.275 billion, a strategic move expected to enhance its defense technology capabilities.
Financially, CACI reported a 20% increase in Q4 revenue and a 14% rise for the full fiscal year. The company projects a revenue growth of 6% to 8.5% for fiscal year 2025, with revenue estimated to be between $7.9 billion and $8.1 billion, and adjusted net income projected between $505 million and $525 million.
Analysts from BofA Securities, TD Cowen, and Baird have expressed confidence in CACI's strategic decisions. BofA Securities raised its price target for CACI to $555, while TD Cowen and Baird reiterated a Buy rating. These are the recent developments in CACI's operations and financial performance.
InvestingPro Insights
CACI International's recent appointment of Scott C. Morrison to its Board of Directors aligns with the company's strong financial performance and market position. According to InvestingPro data, CACI boasts a market capitalization of $11.9 billion and has demonstrated impressive revenue growth of 14.28% over the last twelve months, with quarterly revenue growth reaching 19.68% in Q4 2024. This robust growth trajectory underscores the company's expanding influence in the national security sector.
The company's financial health is further evidenced by its solid profitability metrics. CACI reported a gross profit of $2.51 billion and an EBITDA of $791.85 million for the last twelve months, with an EBITDA growth of 11.68%. These figures suggest that Morrison's financial expertise could be particularly valuable in maintaining and potentially improving CACI's financial performance.
InvestingPro Tips highlight CACI's strong market performance, noting that the stock has seen a high return over the last year and is trading near its 52-week high. This positive momentum is reflected in the stock's impressive year-to-date price total return of 64.05% as of the latest data. Additionally, analysts predict the company will remain profitable this year, which aligns with CACI's strategic growth initiatives.
It's worth noting that CACI operates with a moderate level of debt, which could provide flexibility for future investments or acquisitions. This financial positioning, combined with Morrison's extensive experience in financial management, could potentially enhance CACI's ability to capitalize on growth opportunities in the defense and national security sectors.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for CACI, providing deeper insights into the company's financial health and market position.
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