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.
On April 13, 2023, ICF (NASDAQ:ICFI) secured an $18 million contract from the Los Angeles County Metropolitan Transportation Authority to provide environmental compliance services. This recompete contract spans five years, including three base years and two optional years. ICF will leverage its expertise in environmental assessment and advanced technology to ensure that Metro's transportation projects meet local, state, and federal regulations. The initiative aims to enhance the mobility landscape in Los Angeles County. In support of diversity, ICF has partnered with over 20 local disadvantaged business enterprises. This partnership continues ICF's 13-year collaboration with Metro, reinforcing its commitment to addressing environmental and equity concerns effectively.
ICF (NASDAQ:ICFI) announced it will release its first quarter 2023 results on May 9, 2023, after market close. A webcast to discuss the results will take place at 4:30 p.m. Eastern time on the same day. Interested analysts and investors can register online for participation, while general listeners can access the live webcast through the provided link. Earnings results will be available prior to the call on the company's investor relations page. This announcement comes as ICF continues to operate in a challenging environment, highlighting its ongoing engagement with public and private sector clients since 1969.
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