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 successfully acquired Blanton & Associates, an environmental consulting firm based in Austin, Texas. This strategic acquisition enhances ICF's capabilities to support large infrastructure projects, leveraging Blanton's expertise in environmental regulatory compliance across various sectors, including transportation and renewable energy. With over 75 experienced staff, the acquisition positions ICF favorably to benefit from federal investments under the Bipartisan Infrastructure Law. Blanton has a strong track record, having completed numerous solar and wind projects, which will bolster ICF's offerings in key markets.
ICF has been awarded one of six prime contracts under the EPA's new Environmental, Analytical, Research, Technical, and Hybrid (EARTH) Support Services BPA. This five-year agreement has a total ceiling value of $5.7 billion, with $700 million designated for professional services. ICF will leverage its extensive expertise in climate, energy, and environmental policy to support the EPA's Office of Air and Radiation in achieving climate and air quality goals. The partnership aims to enhance effective management of large federal programs.
ICF Selected for NIH Contract
ICF has been awarded a significant contract by the NIH's National Cancer Institute to provide clinical operations support for cancer epidemiology studies. The contract, valued at $320 million over 10 years, will enhance ICF's role in public health research. Their team, comprising around 150 specialists, will conduct various epidemiologic studies globally. This partnership underscores ICF's expertise in supporting health research initiatives, aligning with its mission to inform cancer prevention efforts.
ICF (NASDAQ:ICFI) will present at the Canaccord Genuity 42nd Annual Growth Conference on August 10 at 1:30 p.m. ET. The presentation will feature John Wasson, Chair and CEO, alongside Anne Choate, Executive VP for Energy, Environment and Infrastructure. A live webcast can be accessed here, with a replay available for 90 days afterward. ICF is a global consulting firm that combines industry expertise with digital capabilities.
ICF reported strong Q2 2022 results with total revenue of $423 million, an increase of 7.8% year-over-year. Service revenue reached $306 million, up 9%. The diluted EPS was $0.97, while non-GAAP EPS was $1.33, reflecting a 12% growth. The company secured $346 million in contracts this quarter, contributing to a trailing twelve-month book-to-bill ratio of 1.21. ICF raised its full-year 2022 guidance post-acquisition of SemanticBits, now forecasting total revenue between $1.760 billion and $1.820 billion.
ICF has been awarded a $33 million recompete contract by the U.S. Department of Health and Human Services' Centers for Medicare & Medicaid Services (CMS) to provide digital modernization services. This contract spans four years, including a one-year base and three one-year options. ICF will leverage its experience with ServiceNow to enhance operational efficiencies and improve user experiences. The company has a solid track record with CMS since 2018, focusing on modernizing agency systems and ensuring a better automated employee experience.
The U.S. Department of Labor has awarded ICF a $14 million contract for a five-year term to provide technical assistance for apprenticeship programs. This contract will support the agency's Apprenticeship Building America initiative and the Regional Apprenticeship Technical Assistance Centers of Excellence. ICF's extensive expertise in workforce development will help prepare individuals for high-paying jobs, aiming to reduce unemployment rates and enhance economic opportunities. ICF's experience in running DOL apprenticeship programs positions it well to leverage these initiatives effectively.
ICF has finalized its acquisition of SemanticBits, a key partner for U.S. federal health agencies, enhancing ICF's digital modernization capabilities. Founded in 2005, SemanticBits specializes in scalable solutions, including cloud development and data analytics, with a team experienced in federal health IT projects. ICF plans to provide updated financial guidance for 2022, reflecting SemanticBits' contributions. This acquisition aligns with ICF’s strategy to expand its offerings in federal health services and digital transformation, signaling potential growth opportunities.
ICF (NASDAQ:ICFI) announced the release of its second quarter 2022 results scheduled for August 3, 2022, after market close. The results will be accessible on their investor website. Participants can register for an audio-only webcast of the earnings call and obtain a unique PIN for access. The replay will be available for one year post-event. ICF provides consulting and digital services, employing around 8,000 personnel globally, supporting both public and private sector clients. More about ICF can be found on their website.
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