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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 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.
On October 1, 2020, ICF (NASDAQ: ICFI) secured a $25 million contract from the U.S. Department of Health and Human Services' Children's Bureau. This five-year project focuses on developing a cloud-based National Child Welfare Data Management System, aimed at enhancing data management efficiency. ICF's proven expertise in IT solutions for child welfare will aid in replacing outdated systems to improve data accessibility and transparency. This initiative underscores ICF's ongoing commitment to support child welfare programs across federal and state entities.
ICF, a global consulting and digital services provider, will release its third quarter 2020 results on November 5, 2020, after market close. The results are accessible at investor.icf.com. A conference call will occur the same day at 4:30 PM ET, with participation details available at this link. Interested parties can join by dialing 1.888.771.4371 (U.S. toll-free) using confirmation number 4995 8640.
ICF (NASDAQ: ICFI) has been awarded a $49 million blanket purchase agreement by the National Library of Medicine to provide biomedical and public health information services over the next three years. This contract enables ICF's team to assist in managing various databases, including PubMed and ClinicalTrials.gov. ICF has partnered with NIH since 2009, demonstrating its capability to adapt to evolving public health needs. The contract reflects ICF's ongoing commitment to enhance public health services through data analysis and communication.
ICF (NASDAQ:ICFI), a global consulting and digital services provider, will participate in the Sidoti Fall 2020 Investor Conference. The presentation by President and CEO John Wasson is scheduled for 10:45 a.m. ET on September 23. A live audio webcast will be available at this link, with a replay accessible for three months post-conference. ICF combines expertise in consulting with digital strategies, supporting public and private sector clients since 1969.
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.
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