ICF International, Inc. - ICFI STOCK NEWS

ICF (NASDAQ:ICFI), a global consulting and technology services provider, has been awarded a new subcontract by Allegheny Science & Technology (AST) to support the U.S. Department of Energy's Grid Deployment Office (GDO). This subcontract, awarded in Q3 2024, spans over five years, including various option periods. ICF will provide operational and technical services to implement programs accelerating the development of efficient and equitable electric infrastructure under the Infrastructure Investment and Jobs Act (IIJA) and Inflation Reduction Act. The project will include transmission planning, engineering, community engagement, advanced analytics, and environmental analyses. ICF has already supported GDO initiatives with $5 billion allocated for grid expansion and resilience. With over 50 years in the energy sector, ICF collaborates with top utilities, federal agencies, and NGOs to advance clean energy transitions.

ICF (NASDAQ:ICFI) has appointed Dr. Eric Hakimov as vice president of corporate development to lead the company's M&A growth strategy and integration efforts. Hakimov brings over 20 years of experience in strategic corporate transitions, investment banking, and private equity, having completed more than 35 transactions worth over $b>$17 billion globally. With both MD and MBA degrees, his background combines medical and business expertise. Previously, he held leadership positions at Labcorp, IQVIA, Monument Capital Group, and JPMorgan. He will focus on ICF's key growth markets including federal health, energy, disaster management, climate services, and federal digital modernization.

ICF (NASDAQ: ICFI) reported strong Q3 2024 results with revenue increasing 3% to $517 million, up 6% excluding divestitures. Net income reached $33 million with GAAP EPS of $1.73, up 38%. The company's Energy, Environment, Infrastructure and Disaster Recovery segment grew 15.3%, representing 45.7% of total revenues. Operating margin expanded by 250 basis points to 8.9%, while Adjusted EBITDA margin increased to 11.3%. Contract awards totaled $697 million for a quarterly book-to-bill ratio of 1.35. The company maintains a record business development pipeline of $10.6 billion and has adjusted its 2024 revenue guidance to $2.0-2.03 billion while raising EPS ranges.

The U.S. Environmental Protection Agency (EPA) Office of Water (OW) has awarded ICF (NASDAQ:ICFI) a single-award blanket purchase agreement (BPA) with a ceiling value of $75 million and a term of five years. ICF will provide environmental, economic, regulatory, and evaluation services to support EPA's critical water programs.

ICF's economists and environmental assessors will study and quantify the environmental and health effects, benefits, costs, and economic impacts of OW's regulatory actions. The company will leverage cloud computing and data analytics to perform analyses more efficiently, aiming to reduce pollutants in U.S. waters, improve drinking water quality, and reduce exposure to toxics and emerging contaminants in water.

ICF has been supporting EPA's water regulations since 2018 and recently provided regulatory support in developing the first-ever nationwide, legally enforceable drinking water standards for per- and polyfluoroalkyl substances (PFAS).

ICF (NASDAQ:ICFI), a global consulting and technology services provider, has announced the timing of its third quarter 2024 earnings release and conference call. The company will release its Q3 2024 results on Thursday, October 31, 2024, after the market close. A webcast call is scheduled for 4:30 p.m. Eastern time on the same day to discuss the financial results.

Analysts and institutional investors can actively participate by registering online, while general listeners can access the live webcast. A replay of the webcast will be available for one year following the live event. Earnings results will be accessible at https://investor.icf.com before the call.

ICF (NASDAQ:ICFI) has appointed David Birken as the new leader of its digital modernization and experience business. Birken, a senior vice president with over 20 years of experience, will manage a team of nearly 2,000 experts providing technology, digital engagement, and advanced data services to U.S. federal agencies. He brings expertise in human capital, workforce development, and cybersecurity to his new role.

Birken's appointment aims to drive growth in ICF's federal technology business, leveraging his experience in complex projects at the intersection of domain and technology. ICF's digital modernization services combine domain expertise with advanced technologies and analytics to help federal agencies design efficient technology solutions. The company has managed numerous enterprise cloud projects for various U.S. departments and agencies, supported by a multi-platform ecosystem of over 25 partners.

Forbes has named ICF (NASDAQ:ICFI) one of America's Best Employers for Women for the third consecutive year. This recognition highlights ICF's commitment to creating an inclusive environment where women can thrive professionally. Half of ICF's workforce and people managers identify as women. The company offers various programs and initiatives supporting women's career growth, pay equity, health benefits, and flexible work arrangements.

Forbes partnered with Statista to survey 150,000 women working at U.S. companies with at least 1,000 employees. The survey evaluated criteria such as work environment, pay equity, parental leave, and handling of discrimination incidents. In 2024, ICF was also recognized on Forbes' lists for Best Management Consulting Firms and Best Employers for Diversity.

ICF reported a solid Q2 2024 with strong EPS performance driven by a favorable business mix and higher utilization.

Revenue increased by 2% to $512 million, and adjusted for divestitures, it climbed 6%. The net income was $25.6 million, with GAAP EPS rising by 27% to $1.36. Non-GAAP EPS grew 8% to $1.69.

EBITDA rose by 17% to $55.6 million, and Adjusted EBITDA increased by 10%. The company achieved record contract awards of $810 million, up 83% YoY, and a business development pipeline of $10.5 billion.

Government revenue was $387 million, up nearly 2%, while commercial revenue surged by 22.6% to $125 million. The energy markets segment, including energy efficiency programs, showed robust growth of 24.8%.

ICF raised its full-year guidance for EPS and EBITDA: GAAP EPS now expected to be between $5.60 and $5.90, and Non-GAAP EPS between $6.95 and $7.25. Adjusted EBITDA is forecasted to range from $225 million to $235 million.

ICF (NASDAQ: ICFI) has been awarded a $17 million contract by the Los Angeles County Southern California Regional Energy Network (SoCalREN) to design and deliver residential energy efficiency programs. The contract, spanning nearly three years, aims to bring millions in incentives to local communities for equitable, clean energy solutions.

ICF will implement programs for multifamily properties across 13 Southern California counties, targeting hard-to-reach and underserved communities. The company will utilize its proprietary cloud-based energy customer platform to monitor program performance in real-time, enabling quick optimization decisions and improved customer experience.

This contract builds on ICF's existing relationship with LA County since 2017, leveraging their understanding of the region's energy needs, regulatory requirements, and equity goals. The program is expected to advance equitable decarbonization efforts and accelerate California's transition to clean energy.