ICF International, Inc. - ICFI STOCK NEWS

ICF, a global consulting and digital services provider, will announce its fourth quarter and full year 2020 results on February 25, 2021, after the market closes. The results will be accessible on their investor relations page. A conference call is scheduled for 4:30 p.m. Eastern Time, where interested participants can register online and dial in using specific details provided in the press release. ICF has over 7,000 employees and offers a unique blend of industry expertise and engagement capabilities.

ICF (NASDAQ:ICFI) has secured a three-year, $30 million contract extension from Southern Maryland Electric Cooperative (SMECO) to enhance its energy efficiency programs. This partnership, extending over a decade, involves implementing comprehensive services for SMECO's EmPOWER Maryland Programs, including program management, marketing, and innovative energy efficiency pilot designs. ICF aims to support SMECO’s evolving relationship with its customers while meeting Maryland's new energy targets.

ICF (NASDAQ: ICFI) announced that Sudhakar Kesavan will retire from the board of directors on December 31, 2020. Effective January 1, 2021, John Wasson, the current President and CEO, will assume the role of chairman. Kesavan, who previously served as CEO and led the company through significant expansions, oversaw revenue growth from $100 million to $1.5 billion and facilitated over 20 acquisitions during his tenure. The board expresses gratitude for Kesavan's leadership and is confident that Wasson and the management team will continue to drive growth.

ICF reported third quarter 2020 results with total revenue of $360 million, a 3.6% decrease year-over-year, while service revenue increased 3% to $265 million. Diluted EPS was $0.94, down from $1.02, with non-GAAP EPS at $1.10. The company achieved record contract awards of $792 million, contributing to a TTM book-to-bill ratio of 1.2. Operating cash flow reached $95 million, primarily from improved collections, and the company raised its full-year EPS and cash flow guidance. ICF declared a quarterly cash dividend of $0.14 per share, payable in January 2021.

ICF (NASDAQ:ICFI) has secured multiple re-compete contracts valued in the multimillions from a consortium of Northeast utilities. These contracts will enable ICF to extend its design and implementation services for energy efficiency programs across residential, multifamily, and commercial buildings. The company will also provide training for workforce development aimed at enhancing industry standards. With over 30 years of experience, ICF is poised to deliver innovative solutions that drive energy savings in the utility sector.

ICF has secured three agreements worth up to $31 million from the U.S. Department of Health and Human Services' Administration for Children and Families. The contracts include a $24 million task order for IT modernization and technical assistance for early childhood programs, a $4 million grant for a cloud-based Child Care Research Connections website, and a $2.8 million cooperative agreement extension for quality assurance assistance. These initiatives aim to enhance early childhood systems, especially in light of COVID-19 challenges.

The FDA has awarded ICF a five-year blanket purchase agreement (BPA) worth up to $49 million for IT services, including operations, maintenance, and advisory support for its Digital Services Center. The agreement includes an initial task order valued at approximately $4 million. ICF will assist in modernizing FDA's IT systems and adopting cloud-based solutions, enhancing the agency's operational efficiency. With over 35 years of experience supporting the FDA, ICF's expertise in strategic communications and analytics is expected to aid in the agency's digital transformation efforts.

ICF was awarded a $9 million task order for research support services from the U.S. Department of Labor's Bureau of International Labor Affairs. This five-year contract will focus on producing reports regarding child labor and human trafficking. ICF has been providing these services since 2005, helping inform policymakers and the public on critical social issues. The company emphasizes the creation of reliable data, ensuring the reports meet congressional standards. This award reinforces ICF's role in addressing significant social challenges.

On October 7, 2020, ICF (NASDAQ: ICFI) announced the award of two re-compete contracts from the U.S. Department of Health and Human Services' Children's Bureau, worth up to $125 million. These contracts extend ICF's role in modernizing child welfare IT systems and operating its child welfare clearinghouse. The first contract, valued at $94 million, focuses on managing the Child Welfare Information Gateway and enhancing its digital infrastructure. The second, worth $31 million, involves maintaining federal data systems and transitioning to a cloud-based platform.