RESTON, Va. - CACI International Inc (NYSE: CACI) has secured a five-year task order to provide communications and information technology services to U.S. European Command (USEUCOM) and U.S. Africa Command (USAFRICOM), with an estimated value of $1.3 billion. This contract extends and enhances CACI's ongoing support to these military commands, aiming to bolster their multi-domain operations and crisis response capabilities.
John Mengucci, CACI President and CEO, stated that the company's established record in delivering responsive IT and communications in challenging overseas environments, combined with cutting-edge technical solutions, strengthens the commands' ability to rapidly respond to events. CACI's role will focus on equipping personnel to execute their missions effectively and improve coordination with partner nations.
The task order involves modernizing critical software and hardware, optimizing network IT and communications, and providing support for over 11,000 personnel across 60 locations in Europe and Africa. Key initiatives include cloud enablement, edge computing, implementing Commercial Solutions for Classified (CSfC), integrating Joint All Domain Command and Control (JADC2), and advancing cybersecurity with zero trust solutions.
CACI International, known for its expertise in national security and government modernization, employs approximately 23,000 individuals. The company is recognized on the Fortune World's Most Admired Company list and is part of 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 from CACI International Inc.
InvestingPro Insights
CACI International Inc (NYSE: CACI) continues to demonstrate its commitment to supporting U.S. military operations with its latest $1.3 billion contract, aimed at enhancing communications and IT services. Investors monitoring CACI's performance will find that the company's stock has been resilient, trading with low price volatility, as per InvestingPro Tips. This stability could be an indicator of the market's confidence in the company's ability to maintain steady operations and fulfill large-scale contracts like the one with USEUCOM and USAFRICOM.
Analyzing the company's financial health through InvestingPro Data, CACI's market capitalization stands at $8.23 billion, reflecting its substantial presence in the defense contracting sector. With a P/E ratio of 22.09, the company trades at a premium, which could be justified by its profitability over the last twelve months and the high return it has delivered over the last decade. The company's revenue growth is also notable, with a 10.03% increase in the last twelve months as of Q2 2024, indicating a robust expansion in its business operations.
Investors interested in a deeper dive into CACI's performance and potential investment opportunities can leverage the insights from InvestingPro, where they can find additional tips such as the company's moderate level of debt and its lack of dividend payments, which could influence investment strategies. For those looking to access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover why analysts predict the company will remain profitable this year. There are a total of 8 InvestingPro Tips available for CACI at https://www.investing.com/pro/CACI, offering valuable perspectives for both current and prospective investors.
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