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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.
The Maryland Department of Human Services has awarded ICF (NASDAQ: ICFI) an $11 million contract extension for two years to enhance customer support services for critical programs aiding vulnerable Maryland residents. ICF will employ advanced technologies like intelligent interactive voice response to handle increased demand, particularly due to the COVID-19 pandemic, which saw application surges of up to 500%. This contract continues ICF's partnership with MD DHS, reinforcing its role in providing essential services.
ICF (NASDAQ:ICFI) has launched CO₂Sight, a strategic planning and analytics platform aimed at assisting utilities and government agencies in decarbonization efforts. This innovative platform integrates ICF's 40 years of energy sector experience with predictive modeling and data visualization tools to help organizations develop actionable strategies for meeting their carbon emission commitments. The dashboard offers insights into various factors like costs, air quality, and greenhouse gas emissions, thereby enabling decision-makers to make informed investments and policy decisions.
ICF, a global consulting and digital services provider, is set to release its first quarter 2021 results on May 4, 2021, after market closure. The results will be accessible via its investor relations website. An audio webcast will accompany the release, with a conference call scheduled at 4:30 p.m. Eastern Time. Interested participants can register in advance and dial in using the provided number. ICF emphasizes its diverse expertise, blending business analysis with digital strategy to address complex challenges for various clients.
ICF (NASDAQ:ICFI), a global consulting and digital services provider, will participate in the Sidoti Spring 2021 Virtual Conference. The presentation, led by John Wasson, President and CEO, is scheduled for 8:30 a.m. Eastern Time on March 24, 2021. A live audio webcast of the presentation will be accessible, with a replay available for one year post-conference. ICF aims to help clients navigate complex challenges through a combination of industry expertise and innovative engagement strategies.
The U.S. Environmental Protection Agency has awarded ICF a new five-year contract worth up to $30 million. This IDIQ contract enhances environmental support by expanding services to Region 5 with an additional $5 million from a prior agreement. ICF will provide technical, analytical, and quality assurance services for EPA programs, including Superfund and waste management. The company's consistent delivery of reliable data and analyses is expected to help the EPA achieve its environmental protection goals.
The U.S. Army Combat Capabilities Development Command has awarded ICF a task order valued at $53 million to enhance cyber research and technology services over five years. This contract expands a previous initiative by $30 million and aims to bolster capabilities in artificial intelligence, machine learning, quantum computing, and cybersecurity. Jonathan Sholtis from ICF stated that this work will help the Army tackle emerging threats effectively. ICF's reputation as a key provider for federal services reinforces its standing in the defense sector.
ICF reported fourth quarter 2020 total revenue of $434 million, up 9.5% year-over-year, with service revenue at $262 million, a 4.1% increase. Diluted EPS was $0.67, reflecting $0.51 in one-time charges. Full year revenue reached $1.51 billion, with a 4.1% service revenue growth to $1.04 billion. Notably, ICF achieved record contract awards of $2 billion for the year. The company's adjusted EBITDA margin on service revenue rose to 13.7%. Looking ahead, ICF expects 2021 service revenue between $1.095 billion and $1.13 billion, reflecting projected growth in IT modernization and public health sectors.
The New York City Department of Environmental Protection has awarded ICF a $30 million contract for energy efficiency, water conservation, and clean energy programs over three years, with possible extensions. The initiative aims to enhance high-performing buildings and support NYC's goal of reducing greenhouse gas emissions by 80% by 2050. ICF will leverage its extensive analytics and industry expertise to fulfill the contract, strengthening its partnership with key stakeholders in NYC.
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