ICF International, Inc. - ICFI STOCK NEWS

Forbes has named ICF (NASDAQ:ICFI) one of America's Best Employers for Women for the third consecutive year. This recognition highlights ICF's commitment to creating an inclusive environment where women can thrive professionally. Half of ICF's workforce and people managers identify as women. The company offers various programs and initiatives supporting women's career growth, pay equity, health benefits, and flexible work arrangements.

Forbes partnered with Statista to survey 150,000 women working at U.S. companies with at least 1,000 employees. The survey evaluated criteria such as work environment, pay equity, parental leave, and handling of discrimination incidents. In 2024, ICF was also recognized on Forbes' lists for Best Management Consulting Firms and Best Employers for Diversity.

ICF reported a solid Q2 2024 with strong EPS performance driven by a favorable business mix and higher utilization.

Revenue increased by 2% to $512 million, and adjusted for divestitures, it climbed 6%. The net income was $25.6 million, with GAAP EPS rising by 27% to $1.36. Non-GAAP EPS grew 8% to $1.69.

EBITDA rose by 17% to $55.6 million, and Adjusted EBITDA increased by 10%. The company achieved record contract awards of $810 million, up 83% YoY, and a business development pipeline of $10.5 billion.

Government revenue was $387 million, up nearly 2%, while commercial revenue surged by 22.6% to $125 million. The energy markets segment, including energy efficiency programs, showed robust growth of 24.8%.

ICF raised its full-year guidance for EPS and EBITDA: GAAP EPS now expected to be between $5.60 and $5.90, and Non-GAAP EPS between $6.95 and $7.25. Adjusted EBITDA is forecasted to range from $225 million to $235 million.

ICF (NASDAQ: ICFI) has been awarded a $17 million contract by the Los Angeles County Southern California Regional Energy Network (SoCalREN) to design and deliver residential energy efficiency programs. The contract, spanning nearly three years, aims to bring millions in incentives to local communities for equitable, clean energy solutions.

ICF will implement programs for multifamily properties across 13 Southern California counties, targeting hard-to-reach and underserved communities. The company will utilize its proprietary cloud-based energy customer platform to monitor program performance in real-time, enabling quick optimization decisions and improved customer experience.

This contract builds on ICF's existing relationship with LA County since 2017, leveraging their understanding of the region's energy needs, regulatory requirements, and equity goals. The program is expected to advance equitable decarbonization efforts and accelerate California's transition to clean energy.

ICF (NASDAQ: ICFI) has been awarded an $84 million contract by Puerto Rico's Public Private Partnership Authority to continue supporting long-term disaster recovery and mitigation efforts across the territory. The recompete contract, administered by COR3, has a three-year term with a one-year base and two one-year options. ICF will provide grant management support to assist in dispersing FEMA funds, leveraging their proprietary disasTRAX® platform.

Since 2018, ICF has partnered with COR3, helping disburse over $9 billion in funds, including $2 billion in 2023. The company's disaster management experts, 95% of whom are based in Puerto Rico, will continue to support recovery efforts from various disasters, including hurricanes and earthquakes.

ICF (NASDAQ:ICFI) has been awarded a new multiple-award blanket purchase agreement (BPA) by the U.S. Department of Defense (DOD) Defense Human Resources Agency (DHRA) to modernize the Defense Manpower Data Center (DMDC). The BPA has a ceiling value of $1.4 billion across all 10 awardees over a five-year period. ICF will compete across 25 task areas, applying Agile practices to develop cloud-based solutions and incorporate AI, generative AI, and machine learning technologies.

The company will provide services including data analysis, enterprise architecture, cloud engineering, and cybersecurity support. This project aims to modernize DMDC's IT enterprise while ensuring critical functionality remains intact during migration. ICF's expertise in cloud technology, digital modernization, and human capital will contribute to supporting DHRA's mission of serving uniformed service members and their families globally.

ICF, a global consulting and technology services provider, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The company's CEO, John Wasson, and EVP of Energy, Environment and Infrastructure, Anne Choate, will engage in a fireside chat on Wednesday, August 14 at 8:30 a.m. Eastern Time.

A live webcast of the discussion will be available for viewing, with a replay accessible for 90 days after the conference. This event provides an opportunity for investors and analysts to gain insights into ICF's growth strategies and market position.

FEMA has awarded ICF (NASDAQ:ICFI) a new $17 million data modernization contract to build a cloud-based data exchange platform, FEMADex. This three-year contract aims to improve the efficiency and cost-effectiveness of disaster response and recovery efforts. ICF will leverage its disaster management expertise along with advanced technologies like cloud computing, generative AI, DevSecOps, and advanced analytics to implement the platform.

The FEMADex platform will enhance FEMA's data sharing and analytics capabilities, allowing leaders to access, analyze, and visualize data from multiple sources. This will facilitate data-driven decision-making and collaboration across the emergency management community. ICF will deliver a modernized Azure Databricks-based solution for FEMADex implementation.

ICF (NASDAQ:ICFI) has been awarded an $88 million subcontract to modernize and execute the Centers for Medicare and Medicaid Services (CMS) Quality Payment Program (QPP). The contract spans nearly five years and aims to enhance QPP's functionality, improve customer experience, and reduce administrative burdens on clinicians.

As a leader in data modernization solutions, ICF has managed over 5,000 cloud instances for more than 100 enterprise cloud projects across U.S. federal agencies. The company combines domain expertise with advanced technologies to help federal agencies design efficient technology solutions. ICF's team includes 2,000 technologists and 4,000 industry experts in various fields, working with an ecosystem of over 30 platform partners.

ICF (NASDAQ:ICFI) has been awarded a new agreement to support the launch and implementation of Commonwealth Edison's (ComEd) beneficial electrification (BE) programs in Illinois. The program is part of ComEd's $231 million investment to promote equitable access to electric vehicles (EV), reduce EV adoption costs, and accelerate the build-out of an EV charging network. ICF, in partnership with Walker-Miller Energy Services and Center for Sustainable Energy, will design and implement EV rebate programs and support fleet electrification.

This contract builds on ICF's 17+ year partnership with ComEd in designing and delivering energy efficiency programs. ICF's expertise in electrification and energy efficiency, combined with its extensive experience working with utilities and government agencies, positions the company as a key player in advancing the transition to clean energy and helping Illinois reach its goal of 1 million EVs on roads by 2030.