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) will participate in the Sidoti Spring 2022 Virtual Small Cap Conference, with Chairman and CEO John Wasson presenting on March 24 at 10:00 a.m. Eastern Time. A live audio webcast of the presentation will be accessible online, and a replay will be available for three months. ICF specializes in consulting and digital services, employing around 8,000 staff. The company combines industry expertise with innovative strategies to help clients tackle complex challenges.
ICF reported strong fourth quarter and full year 2021 results, with total revenue of $388 million in Q4 and $1.55 billion for the year. Service revenue increased 4.3% to $273 million in Q4 and 6.4% to $1.11 billion for the full year. Diluted EPS was $0.63 in Q4 and $3.72 for the year. The company also saw record contract awards of $652 million in Q4, achieving a book-to-bill ratio of 1.68. Looking ahead, ICF anticipates double-digit service revenue growth in 2022, supported by the acquisition of Creative Systems and significant demand in government and energy markets.
ICF (NASDAQ:ICFI) has been recognized as the 2022 ServiceNow Americas U.S. Federal Partner of the Year for its robust partnership in delivering digital solutions to the U.S. government. The award highlights ICF's success with over 250 deployments on the Now Platform in 2021, showcasing its ability to improve clients' business outcomes significantly. The company boasts over 500 ServiceNow-certified consultants and manages over 50 ongoing projects for key U.S. federal agencies. This honor reflects ICF's consistent commitment to customer satisfaction and innovation in the federal digital services sector.
Public Service Company of Oklahoma (PSO) awarded a multimillion-dollar contract to ICF (NASDAQ: ICFI) to manage energy efficiency programs. As the primary implementer, ICF will oversee commercial and residential portfolios, providing services like program design, management, customer care, and database tracking. ICF aims to enhance efficiency and support PSO in delivering reliable energy. With over three decades of experience, ICF is well-positioned to meet evolving energy needs, including innovative solutions for the oil, gas, and agriculture sectors.
On February 9, 2022, Entergy Mississippi awarded a $20 million contract extension to ICF (NASDAQ:ICFI) for expanding its energy efficiency services. This extension allows ICF to enhance both residential and commercial energy efficiency programs, providing marketing, customer support, and data analytics. ICF has collaborated with Entergy Mississippi for over eight years, focusing on innovative solutions to decrease energy costs for customers. ICF's extensive experience in energy management positions it well to support this initiative.
Con Edison of New York has awarded ICF a recompete contract valued at over $30 million to manage and expand its residential energy efficiency portfolio. This contract will enable ICF to provide a comprehensive range of services, including program delivery, engineering, and customer support, extending coverage to additional subsidiary customers in New York and New Jersey. The partnership has been ongoing for over 15 years, focusing on innovative energy efficiency programs aimed at optimizing portfolio efficiency and meeting state decarbonization goals.
ICF (NASDAQ:ICFI) has announced the appointment of Barry Broadus as its new chief financial officer (CFO), effective February 28, 2022. He succeeds Bettina Garcia Welsh, who is leaving the company but will assist in the transition until early April 2022. Broadus brings over 30 years of financial management experience, previously serving as CFO at various tech firms, including Dovel Technologies. CEO John Wasson highlighted Broadus's expertise and potential to drive growth at ICF.
ICF (NASDAQ:ICFI) has announced the release date for its fourth quarter and full year 2021 financial results, set for February 24, 2022, after market close. The results will be accessible via the ICF investor website. A conference call to discuss the outcomes will follow on the same day at 4:30 p.m. ET, with the opportunity to participate via dial-in or audio webcast. Investors can register for the call and find archived materials post-event on the investor site.
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