Welcome to our dedicated page for ICF International news (Ticker: ICFI), a resource for investors and traders seeking the latest updates and insights on ICF International stock.
ICF International, Inc. (NASDAQ: ICFI) is a prominent global consulting and technology services provider with a workforce of over 9,000 employees specializing in an array of fields including business analysis, policy development, technology, digital strategy, social science, and creative solutions. Established in 1969, ICF has a broad portfolio of clients primarily comprising United States federal government departments and agencies, as well as commercial clients.
ICF's core services span across four primary markets: Energy, Environment, Infrastructure and Disaster Recovery; Health and Social Programs; Security; and Other Civilian & Commercial. Their expertise encompasses professional services and technology-based solutions such as management consulting, marketing, technology implementation, and policy consulting.
One of ICF's notable achievements includes a recent collaboration with the U.S. Department of Health and Human Services (HHS) to advance the cloud migration and digital modernization of the Centers for Medicare & Medicaid Services (CMS) systems. These projects, valued at $50 million, aim to improve healthcare services for Medicare and Medicaid beneficiaries across the nation.
Additionally, ICF has been instrumental in implementing energy efficiency programs for utility companies like Baltimore Gas and Electric (BGE) and Entergy Arkansas, leveraging their proprietary utility technology platform to monitor and optimize program performance. Their collaboration with the California State Lottery further exemplifies their ability to enhance digital infrastructure, ensuring websites are user-friendly and compliant with the Americans with Disabilities Act.
ICF's digital modernization services are bolstered by partnerships with more than 30 platform partners, including being an Amazon Web Services (AWS) Advanced Tier Services Partner. This positions ICF to provide comprehensive cloud capabilities, artificial intelligence (AI), machine learning (ML), and data sharing solutions. In the realm of global health, ICF has been a pivotal partner for the U.S. Agency for International Development (USAID), delivering the Demographic and Health Surveys (DHS) Program for over 40 years, providing critical data for health, population, and nutrition programs worldwide.
ICF's dedication to utilizing science and technology has also been recognized by their work with the U.S. Environmental Protection Agency (EPA) under a $75 million contract to assess chemical hazards and environmental stressors. Their advanced data modeling and analysis tools like Litstream® aid in producing broad-based, scientifically defensible analyses.
Financially, ICF has demonstrated robust performance with a 2% year-over-year revenue increase in the first quarter of 2024, adjusting for the divestiture of its commercial marketing business lines. Their backlog of $3.6 billion and a 1.2 book-to-bill ratio underscore their strong positioning and growth prospects.
ICF (NASDAQ:ICFI) has secured contracts with multiple towns, counties, and utilities in North and South Carolina to provide disaster recovery support following Hurricane Helene. The company is deploying local teams to assess damage and navigate FEMA Public Assistance programs, utilizing advanced technology including drones for rapid aerial assessments.
The company has already documented damage across 110 square miles and 80 miles of critical infrastructure through drone operations. ICF will implement their proprietary disasTRAX® cloud-based grants management platform to streamline the recovery process.
With over 25 years of disaster management experience, ICF has supported recovery efforts for more than 170 state and local communities across 90 major disasters, managing over $90 billion in federal recovery and mitigation funding.
ICF (NASDAQ:ICFI), a global consulting and technology services provider, has scheduled its fourth quarter and full year 2024 earnings release for Thursday, February 27, 2025, after market close. The company will host a webcast conference call at 4:30 p.m. Eastern Time on the same day to discuss the financial results.
Analysts and institutional investors can participate by registering online to receive dial-in information and a unique PIN. General listeners can access the live webcast through the provided link, and a replay will be available for one year on ICF's investor relations website.
ICF (NASDAQ:ICFI) has been awarded a new $40 million contract by the U.S. Department of Homeland Security Center for Countering Human Trafficking (CCHT). The contract, spanning up to five years, focuses on delivering strategic and digital communications campaigns to combat human trafficking.
ICF Next, the company's integrated digital and communications agency, will collaborate with DHS and industry stakeholders to create national campaigns raising awareness about human trafficking indicators. The scope includes overseeing the agency's Blue Campaign marketing and communications initiatives and providing strategic communications support to the CCHT.
The Blue Campaign works with private sector, NGOs, law enforcement, and local authorities to maximize public engagement in anti-human trafficking efforts. ICF will implement digital solutions and campaigns aimed at educating law enforcement, industry, and the U.S. public about recognizing and responding to potential trafficking cases.
ICF (NASDAQ:ICFI) has acquired Applied Energy Group (AEG) from Ameresco (NYSE:AMRC), expanding its utility and state & local government capabilities. AEG, with over 100 experts, provides integrated technology and advisory solutions for energy management, bringing a trusted platform that centralizes demand-side management programs.
AEG is projected to generate $30 million in annual revenue in 2024 with margins comparable to ICF's commercial energy business. The company expects revenue growth at a mid-teens rate in 2025, and the acquisition is expected to be immediately accretive to ICF's Non-GAAP EPS.
The acquisition aligns with ICF's strategy to extend capabilities in energy markets advisory and technology-enabled services. The companies have previously partnered on numerous utility management projects, and the integration aims to address energy challenges while creating revenue synergies.
ICF (NASDAQ:ICFI) has secured over $40 million in new and recompete contracts during Q3 2024 from the National Institutes of Health (NIH). The contracts include an $11 million agreement with the National Library of Medicine for generative AI projects, nearly $20 million in various agreements for biomedical and cancer research data systems modernization, and an $11 million subcontract with Banyan Communications for digital engagement services.
The projects focus on integrating health expertise with cloud and automated technologies, including generative AI and advanced analytics, to support IT modernization, software development, and research initiatives. Contract terms range from one to five years, demonstrating ICF's continued commitment to advancing medical research and healthcare innovation.
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.
FAQ
What is the current stock price of ICF International (ICFI)?
What is the market cap of ICF International (ICFI)?
What services does ICF International provide?
Who are ICF International’s primary clients?
What markets does ICF International serve?
What recent projects has ICF International undertaken?
How does ICF International support global health initiatives?
What technology partnerships does ICF International have?
How does ICF International contribute to environmental protection?
What is ICF International's financial outlook?
How does ICF International enhance digital infrastructure for clients?
What distinguishes ICF International from other consulting firms?
