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 Awarded $30 Million Contract by DOD
The U.S. Department of Defense awarded ICF a $30 million recompete contract to support its mental health research agenda. The contract spans 55 months, comprising a seven-month base period and four one-year options. ICF will enhance the Department of Defense’s Psychological Health Center of Excellence by providing expertise in psychological health research, data analytics, and implementation science to improve military mental healthcare.
ICF (NASDAQ:ICFI) has announced a definitive agreement to acquire SemanticBits, enhancing its digital modernization capabilities for U.S. federal health agencies. The $220 million transaction, funded through ICF's credit facility, is expected to generate approximately $135 million in annual revenue for 2022, with $115 million projected as recurring in 2023. This acquisition aims to complement organic growth and support larger projects in federal health IT, driven by SemanticBits' expertise in open-source solutions and strong presence at the Centers for Medicare & Medicaid Services (CMS).
ICF (NASDAQ:ICFI) will participate in the Baird 2022 Global Consumer, Technology & Services Conference on June 7 at 9:40 a.m. ET. CEO John Wasson and CFO Barry Broadus will lead the presentation, which will be accessible via live webcast. The replay will be available for 90 days post-conference. ICF is a global consulting and digital services provider with around 8,000 employees, focusing on solving complex challenges in collaboration with public and private sectors.
ICF (NASDAQ:ICFI) announces a partnership with Google Cloud to enhance digital transformation services for public sector clients. This collaboration aims to provide cloud and analytics solutions, supporting organizations as they advance their digital strategies. The partnership will leverage ICF's expertise and Google Cloud's capabilities to improve operational efficiency and deliver innovative services to federal agencies. With a focus on clients like the National Cancer Institute, ICF aims to facilitate smoother migrations to cloud systems, ultimately enhancing federal service delivery.
ICF (NASDAQ: ICFI) has confirmed its Investor Day will take place on May 25, 2022, in New York, New York. Senior management will present insights on key growth areas, including IT modernization, public health, disaster management, and climate initiatives. Analysts and institutional investors can attend in person or via a live webcast starting at 2:30 p.m. ET. Registration is required. ICF has been a key player since 1969, helping clients navigate challenges with a mix of consulting and digital services.
ICF Awarded Climate Advisory Contracts
ICF, a global consulting firm (NASDAQ: ICFI), announced on May 18, 2022, the acquisition of multiple contracts for climate advisory services from various public sector and commercial clients. The awards, secured in Q1 2022, focus on climate resilience and decarbonization projects. This includes enhancing energy systems against extreme weather and supporting clean energy initiatives. ICF aims to leverage its extensive climate expertise and analytics capabilities to assist clients in navigating climate challenges, building on its long-standing federal government collaborations.
ICF reported strong first quarter 2022 results, with total revenue of $413 million and service revenue of $305 million, both up 9% year-over-year. Diluted EPS was $0.94, including $0.12 in special charges, while non-GAAP EPS increased 16% to $1.31. The adjusted EBITDA rose 12% to $42.3 million, achieving a margin of 13.9%. Contract awards totaled $361 million, contributing to a trailing twelve-month total of $2.0 billion. ICF reaffirmed its 2022 guidance for double-digit revenue growth, anticipating continued expansion across key markets.
ICF (NASDAQ:ICFI) will host an in-person Investor Day on May 25, 2022, at 2:30 p.m. ET in New York. The event aims to highlight the company's key growth markets including IT modernization, public health, disaster management, utility consulting, and climate initiatives. Leadership and subject matter experts will engage in presentations and panels to discuss strategic insights relevant to government and commercial sectors. Interested analysts and institutional investors can contact ICF Investor Relations for attendance details.
The Federal Highway Administration has selected ICF for a five-year blanket purchase agreement valued at $94 million to develop next-generation multimodal transportation systems. ICF will utilize its expertise in traffic engineering, clean transportation, and data analytics to enhance the national transportation system's performance. The company aims to improve safety, reduce emissions, and promote sustainable travel, addressing climate change and environmental concerns. This partnership aims to facilitate economic vitality and community quality of life.
ICF (NASDAQ:ICFI) will release its first quarter 2022 results on May 4, 2022, after market close. Investors can access the results via the company's investor portal. A conference call will follow at 4:30 PM Eastern Time, with dial-in details provided. The event will also be available as an audio webcast for those who register in advance. ICF emphasizes its position as a leading global consulting and digital services provider, catering to both public and private sectors since 1969.
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