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RESTON, Va. - CACI International Inc (NYSE:CACI), a $10.46 billion market cap technology solutions provider, announced that its chairman of the board, Michael A. Daniels, has passed away. Following his death, the company’s board of directors has elected Lisa S. Disbrow as the new Chair. According to InvestingPro data, CACI has demonstrated strong performance with a 20.58% year-to-date return.
Daniels, who had served as a CACI director since 2013 and was elected chairman in January 2021, held numerous leadership roles throughout his career in the technology and government sectors, with a focus on cybersecurity, data analytics, and digital solutions. Under his leadership, CACI maintained robust financial health, with InvestingPro analysis showing impressive revenue growth of 14.16% and strong liquidity metrics.
"The entire CACI family is deeply saddened by Mr. Daniels’ passing. Mike was a keen business leader who demonstrated respect and support for all who worked with him," said John Mengucci, President and Chief Executive Officer of CACI.
Earlier this year, Daniels received the 2024 National Association of Corporate Directors Directorship 100 B. Kenneth West Lifetime Achievement Award. He was also honored by the Virginia Chamber of Commerce for his career as a technology leader.
Beyond his role at CACI, Daniels held directorships and chairmanships at numerous public and private technology companies. His government service included positions as a former senior White House advisor on international technology for the Defense Advanced Research Projects Agency and as a former senior advisor to the National Security Council.
Disbrow, who now assumes the role of Chair, will support Mengucci as he continues to lead the company’s growth strategy, according to the press release statement.
CACI International employs approximately 25,000 people focused on national security technology solutions and is a member of the Fortune 500, the Russell 1000 Index, and the S&P MidCap 400 Index.
In other recent news, CACI International has secured contracts valued at approximately $638 million with the intelligence community, enhancing its national security efforts. This development highlights CACI’s expertise in providing critical solutions to defense and intelligence agencies. Meanwhile, Jefferies has raised its price target for CACI International to $570, maintaining a Buy rating on the stock. The firm anticipates a 20 basis point margin expansion in fiscal year 2026, with an adjusted earnings per share projected at $27.80. William Blair upgraded CACI International from Market Perform to Outperform, citing the company’s notable position in the counter-drone system market following the passage of significant drone funding legislation. On the other hand, Raymond James downgraded CACI International from Outperform to Market Perform, reflecting the view that the stock may pause after its strong performance. Additionally, CACI International was among several tech companies affected by the Trump administration’s recent efforts to reduce federal contract spending. These developments represent a diverse set of factors influencing CACI International’s current business landscape.
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