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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 reported strong second quarter 2021 results with total revenue of $393 million, representing a 10.9% increase year-over-year. Service revenue rose 7.7% to $281 million, and diluted EPS surged 49% to $1.07. Contract awards reached $398 million, up 41%, with a trailing twelve-month book-to-bill ratio of 1.48. The company anticipates full-year revenue between $1.525 billion and $1.575 billion. ICF's record business development pipeline now totals $7.2 billion, underscoring its long-term growth prospects.
The Government of Puerto Rico awarded ICF (NASDAQ:ICFI) a $13 million contract amendment for expanding the implementation of its Single Family Rehabilitation, Reconstruction & Relocation Program (R3), essential for post-hurricane recovery. This contract will run through summer 2022, allowing ICF to support the rehabilitation of homes damaged by hurricanes Irma and Maria. The program aims to complete 3,000 home constructions this year, enhancing community resilience.
The National Cancer Institute (NCI) awarded ICF a $49 million blanket purchase agreement (BPA) for digital communications strategy and support for behavioral health initiatives over five years. This contract, led by ICF Next, focuses on enhancing NCI's mobile health initiatives, including Smokefree.gov. ICF will utilize its expertise in public health and digital strategies to advance health communications. This agreement underscores ICF's role in public health innovation, particularly amid evolving health behaviors accelerated by the pandemic.
The U.S. Virgin Islands Department of Labor has awarded ICF a $9 million contract for a new workforce development program titled Skills for Today. This two-year initiative aims to train local residents, especially low-to-moderate income individuals, to support recovery from hurricanes Irma and Maria. ICF will provide strategic planning, training in various fields including construction, hospitality, and healthcare, and access to apprenticeships. The program seeks to create sustainable solutions for economic growth and job readiness.
The Social Security Administration (SSA) has awarded ICF a $12 million software automation contract, effective for five years, comprising one base year and four option years. ICF will develop and support software applications aimed at automating SSA's physical security processes using its proprietary GroupAssure compliance automation software. This partnership aligns with SSA's mission to modernize security processes and enhance efficiency in compliance with federal regulations.
ICF (NASDAQ:ICFI) has secured a $10 million call order from the Federal Transit Administration (FTA) for modernizing its Oversight Tracking System (OTrak). This five-year contract, including one base year and four option years, will leverage Appian's low-code automation platform to enhance workflow management and data integration with other FTA systems. This marks ICF's third Appian-related IT modernization agreement with the FTA in 2021.
ICF (NASDAQ:ICFI) has announced the schedule for its second quarter 2021 earnings results, set to be released on August 3, 2021, after market close. A conference call will follow at 4:30 p.m. Eastern Time, where stakeholders can discuss the results. Interested parties can register to listen to the call via the company's investor relations website. The details include a toll-free dial-in number: 1.888.771.4371, with a confirmation code of 5018 6479. An archive of the event will be available for one year.
ICF (NASDAQ:ICFI) will participate in the Baird 2021 Virtual Global Consumer, Technology & Services Conference on June 8, 2021. CEO John Wasson and CFO Bettina Welsh are scheduled to present at 2:00 p.m. Eastern Time. ICF is a global consulting and digital services firm with over 7,000 employees, focusing on integrating industry expertise with innovative solutions. The company has been assisting clients since 1969 to address complex challenges across various sectors. For more information, visit icf.com.
ICF has been awarded a $34 million contract by NASA to support the U.S. Global Change Research Program. This five-year agreement includes an $8 million indefinite delivery component. ICF's role will involve providing technical and administrative support, focusing on climate change and global-scale environmental issues. Additionally, the contract entails the development of the Fifth National Climate Assessment. ICF emphasizes the importance of science-based decision-making to mitigate climate impacts.
ICF has appointed Scott Salmirs, the president and CEO of ABM Industries, to its board of directors. Salmirs brings extensive experience in business growth through transformative strategies. Under his leadership, ABM became one of the world’s leading facility services providers. ICF CEO John Wasson expressed confidence that Salmirs will offer valuable insights to enhance their growth across various sectors, including technology and public health. Salmirs is impressed by ICF’s diversified portfolio and views this appointment as timely for addressing critical client needs.
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