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) has secured three new three-year and one two-year cooperative agreements from the U.S. Department of Housing and Urban Development (HUD), valued in the multimillion-dollar range. These agreements aim to aid state and local municipalities in their COVID-19 response, facilitate stable housing for individuals in recovery, and provide expertise in Community Development Block Grant-Disaster Recovery (CDBG-DR). The contracts, awarded under the CARES Act, will enhance community efforts in managing COVID-19 and supporting recovery housing initiatives.
ICF (NASDAQ: ICFI) was awarded one new and four re-compete contracts valued at over $100 million by the U.S. Department of Health and Human Services for Head Start programs across 18 states and the District of Columbia. The contracts have a term of five years, including an 11-month base period and four 12-month options. ICF will provide training and technical assistance to enhance services for low-income families and improve school readiness for children under 5. ICF has been involved with Head Start for over 15 years, supporting programs across 37 states and 175 tribes.
On September 9, 2020, ICF (NASDAQ: ICFI) announced key leadership changes to enhance its growth strategy. Kris Tremaine has been appointed as the group lead and senior managing partner for ICF Next, bringing over 13 years of experience within the company, including her role in launching ICF Next. Caryn McGarry was promoted to senior vice president and chief human resources officer, focusing on talent acquisition and HR operations. These changes are expected to strengthen ICF's operational efficiency and market positioning.
ICF (NASDAQ: ICFI) has appointed Marilyn Crouther to its board of directors, enhancing its leadership with a veteran from Hewlett Packard Enterprise and DXC Technology. Crouther's extensive experience includes managing a $3 billion U.S. Public Sector business, focusing on IT modernization and digital transformation. Her appointment is expected to strengthen ICF's strategic initiatives in technology service delivery. Crouther has been recognized among the Top Women in Technology and brings over 30 years of leadership in the technology sector.
ICF, a global consulting and digital services provider, will participate in the Canaccord Genuity 40th Annual Growth Conference on August 12 at 8:30 a.m. ET. John Wasson, President and CEO, along with Bettina Welsh, CFO, will lead the presentation. ICF employs over 7,000 staff and specializes in combining industry expertise with innovative solutions to address complex challenges across sectors. The company has worked with public and private clients since 1969. For more information, visit icf.com.
ICF reported a 3.5% decline in total revenue to $354 million in Q2 2020, impacted by lower pass-through revenues. However, service revenue increased by 3.5% driven by federal government and commercial energy clients. Diluted EPS was $0.72, while non-GAAP EPS was $0.89. EBITDA rose by 3.7% to $31.3 million, and the company reaffirmed full-year guidance, projecting revenue of $1.450 to $1.510 billion. The business development pipeline exceeds $7 billion, with contract awards totaling $282 million.
ICF (NASDAQ: ICFI) has secured a new task order from the CDC, valued at $9 million over five years. This contract, awarded under the Alliant 2 Governmentwide Acquisition Contract, involves providing emerging technology and design acceleration support. ICF will collaborate with the CDC's Office of the Chief Information Officer to develop frameworks for evaluating and implementing modern technologies. This initiative aims to improve public health outcomes through rapid prototyping and research, building on ICF's experience with over 100 rapid prototypes in the past two years.
ICF (NASDAQ: ICFI) was awarded 18 significant advertising accolades for its marketing initiatives aimed at utility clients, including eight DC American Advertising Awards (ADDYs) and 10 Tellys. The 'Fairy Tale' campaign, developed for Baltimore Gas and Electric, achieved remarkable success with a 100% increase in web traffic and participation in energy-saving programs. ICF Next, the firm's marketing division, also received recognition for augmented reality ads and campaigns for Con Edison. ICF is recognized as a leader in the energy consulting sector, showcasing its creative engagement capabilities.
ICF, a global consulting and digital services provider, will announce its Q2 2020 earnings on August 4, 2020, after market close. The earnings results will be accessible online following the announcement. Investors can participate in the conference call by registering in advance and dialing in at the specified time. This earnings release is part of ICF's commitment to transparency and engagement with its stakeholders. The company has a history of collaborating with public and private sector clients to address complex challenges.
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