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.
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.
ICF (NASDAQ:ICFI) has successfully acquired Creative Systems and Consulting, enhancing its capabilities in IT modernization and digital transformation for US federal agencies. This acquisition adds a skilled team of 270 experts proficient in Salesforce, Microsoft, and ServiceNow, complementing ICF's existing services. ICF is recognized as a leading ServiceNow implementor and was named Federal Partner of the Year in 2019. The firm aims to leverage this acquisition to strengthen its digital services portfolio, building on its previous successful M&A transactions.
On January 3, 2022, ICF (NASDAQ: ICFI) announced the completion of its acquisition of Creative Systems and Consulting, a provider of IT modernization solutions for U.S. federal agencies. This acquisition enhances ICF's digital transformation service offerings and leverages Creative's expertise in cloud solutions, data analytics, and customer experience, particularly within Salesforce and ServiceNow platforms. The integration aims to strengthen ICF's position in the federal market, benefiting from Creative's skilled 270-person team.
ICF has announced a definitive agreement to acquire Creative Systems and Consulting, a prominent provider of IT modernization solutions for U.S. federal agencies, expected to generate approximately $60 million in revenue in 2021. The acquisition is anticipated to slightly enhance ICF's GAAP EPS in 2022 and deliver mid-teens revenue growth in the following year. Creative’s strong expertise in cloud services complements ICF’s offerings and is projected to yield significant revenue synergies. The deal is subject to customary closing conditions and is slated for completion by year-end 2021.
ICF (NASDAQ:ICFI) has been recognized as the Appian 2021 Trusted Delivery Partner in the Public Sector for its consistent implementation of Appian's Low-Code Platform. This acknowledgment highlights ICF's successful partnerships with federal agencies including the U.S. Departments of Transportation, Labor, and Health and Human Services. Additionally, ICF received the Appian 2021 Public Sector Solutions Cup for delivering an effective financial examiner platform, positioning the company as a leader in digital transformation within the public sector.
ICF (NASDAQ: ICFI) has appointed Michelle A. Williams, dean of the Harvard T.H. Chan School of Public Health, to its board of directors effective December 1, 2021. Williams brings extensive experience as an epidemiologist and academic leader, having published over 500 peer-reviewed papers. ICF CEO John Wasson expressed enthusiasm for her joining, highlighting her expertise in public health as a strong asset for the company. Williams aims to support ICF in tackling complex challenges and enhancing community resilience. This strategic addition strengthens ICF's leadership in addressing pressing global issues.
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