Core Insights - ICF has acquired Applied Energy Group (AEG), enhancing its capabilities in utility and state and local government services [1][2] - AEG's technology platform centralizes demand-side management programs, providing real-time analytics for energy efficiency and grid reliability [2] - The acquisition is expected to generate approximately $30 million in annual revenue for AEG in 2024, with a projected mid-teens revenue growth rate in 2025 [3] Company Strategies - The acquisition aligns with ICF's strategy to expand its energy markets advisory and technology-enabled services [4] - ICF aims to create incremental revenue synergies by leveraging AEG's complementary portfolio and expertise [4] - Ameresco's divestiture of AEG allows it to focus on its core projects and growth opportunities in renewable energy [1][4] Market Position - ICF has a strong track record in the commercial energy market, with utility clients increasingly utilizing its services for energy efficiency and decarbonization [4] - AEG's integration into ICF is expected to enhance service offerings and drive value for clients and stakeholders [4][5]

A downtrend has been apparent in ICF International (ICFI) lately with too much selling pressure. The stock has declined 10.3% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, f ...

ICF International, Inc. (ICFI) is benefiting from the expansion of its commercial business. Acquisitions are an important element in the company’s growth strategy. A solid liquidity position enables the company to pay off short-term obligations effectively.ICFI reported mixed third-quarter 2024 results. Quarterly earnings per share of $2.13 beat the Zacks Consensus Estimate by 17.7% and gained 17.7% from the year-ago reported figure. Total revenues of $517 million missed the Zacks Consensus Estimate by 2.9% ...

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task.In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.However, it's pretty easy to find cutting-edge growth stocks wit ...

ICF International (ICFI) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The powe ...

For the quarter ended September 2024, ICF International (ICFI) reported revenue of $517 million, up 3.1% over the same period last year. EPS came in at $2.13, compared to $1.81 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $532.49 million, representing a surprise of -2.91%. The company delivered an EPS surprise of +17.68%, with the consensus EPS estimate being $1.81.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Core Viewpoint - ICF International reported quarterly earnings of $2.13 per share, exceeding the Zacks Consensus Estimate of $1.81 per share, marking a 17.68% earnings surprise [1]. Financial Performance - The company achieved revenues of $517 million for the quarter ended September 2024, which was 2.91% below the Zacks Consensus Estimate, compared to $501.52 million in the same quarter last year [2]. - Over the last four quarters, ICF has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [2]. Stock Performance - ICF shares have increased approximately 27.6% since the beginning of the year, outperforming the S&P 500's gain of 21.9% [3]. - The current consensus EPS estimate for the upcoming quarter is $1.80, with expected revenues of $521.72 million, and for the current fiscal year, the estimate is $7.06 on $2.06 billion in revenues [7]. Industry Outlook - The Government Services industry, to which ICF belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook [8]. - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact ICF's stock performance [5]. Future Expectations - The estimate revisions trend for ICF is currently mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]. - The upcoming earnings call will be crucial for understanding management's commentary on future earnings expectations [3].

Financial Performance - Total revenue for Q3 2024 was $517 million, a 3% increase year-on-year, and a 6% increase excluding divestitures[1] - Net income reached $33 million, with GAAP EPS of $1.73, up 38% from the previous year[1] - Non-GAAP EPS increased 17.7% to $2.13 per share, compared to $1.81 in Q3 2023[6] - The operating margin improved by 250 basis points to 8.9%, while adjusted EBITDA margin expanded by 50 basis points to 11.3%[4] - Revenue for September 2024 reached $516,998 thousand, a 3.0% increase from $501,519 thousand in September 2023[30] - Net income for September 2024 was $32,679 thousand, up 37.5% from $23,740 thousand in September 2023[30] - Adjusted EBITDA for September 2024 was $58,526 thousand, compared to $54,279 thousand in September 2023, reflecting a 4.1% increase[32] - Basic earnings per share (EPS) for September 2024 was $1.74, an increase of 38.1% from $1.26 in September 2023[30] - The company reported a net income margin of 6.3% for September 2024, up from 4.7% in September 2023[32] - Operating income for September 2024 was $46,024 thousand, a significant increase from $31,901 thousand in September 2023, representing a 44.5% growth[30] - The company experienced a comprehensive income of $31,728 thousand for September 2024, compared to $19,687 thousand in September 2023, reflecting a 60.9% increase[30] - Net income for the three months ended September 30, 2024, was $85,607,000, compared to $60,450,000 for the same period in 2023, representing an increase of 41.5%[41] Revenue Breakdown - Revenue from government clients was $387.8 million, a 1.1% increase year-on-year, with federal government revenue accounting for 54.5% of total revenue[8][9] - Commercial revenue was $129.2 million, up 23.7% compared to Q3 2023, representing 25% of total revenue[18] - Revenue from the Energy, Environment, Infrastructure, and Disaster Recovery sector accounted for 46% of total revenue for the three months ended September 30, 2024, up from 41% in the same period of 2023[43] - The U.S. federal government represented 55% of total revenue for the three months ended September 30, 2024, slightly down from 56% in the prior year[44] - Time-and-materials contracts made up 43% of total revenue for the three months ended September 30, 2024, compared to 41% in the same period of 2023[45] Guidance and Future Outlook - The company adjusted its full-year 2024 revenue guidance to a range of $2.0 billion to $2.03 billion, reflecting a $50 million reduction in expected pass-throughs[22] - The revised GAAP EPS guidance for 2024 is now between $6.05 and $6.15, with non-GAAP EPS expected to range from $7.40 to $7.50[22] Backlog and Pipeline - The business development pipeline reached a record $10.6 billion, with contract awards totaling $697 million in Q3 2024[5] - Total backlog at the end of Q3 2024 was $3.9 billion, with funded backlog at $1.9 billion, approximately 50% of the total[7] Assets and Liabilities - Total current assets increased to $493,115,000 as of September 30, 2024, from $447,157,000 at December 31, 2023, reflecting a growth of 10.3%[40] - Total liabilities decreased to $1,051,861,000 as of September 30, 2024, from $1,094,187,000 at December 31, 2023, a reduction of 3.9%[40] - The total stockholders' equity increased to $976,317,000 as of September 30, 2024, from $917,585,000 at December 31, 2023, reflecting a growth of 6.4%[40] Cash Flow and Expenses - The company reported net cash provided by operating activities of $76,184,000 for the three months ended September 30, 2024, compared to $45,552,000 in the same period of 2023, an increase of 67.2%[41] - Interest expense decreased to $(7,195) thousand in September 2024 from $(10,557) thousand in September 2023, indicating improved financial management[30] - The company declared cash dividends of $0.14 per common share for both September 2024 and September 2023[30] Credit Losses - The company recorded a provision for credit losses of $3,176,000 for the three months ended September 30, 2024, compared to $691,000 in the same period of 2023, indicating a significant increase in expected credit losses[41]

Earnings Release - ICF International, Inc. will release its Q3 2024 earnings results after market close on October 31, 2024[5] Conference Call - A conference call to discuss the Q3 results will be held at 4:30 p.m. Eastern Time on October 31, 2024[5]

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