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Company Overview - ICF International (ICFI) shares increased by 4.2% to close at $146.39, following a trading session with notable volume, contrasting with a 2.6% loss over the past four weeks [1] - The company is expected to report quarterly earnings of $1.52 per share, reflecting a year-over-year decline of 3.2%, with revenues projected at $508.54 million, an increase of 1.7% from the previous year [3] Earnings Estimates - The consensus EPS estimate for ICF has been revised 0.8% lower in the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [2][6] - ICF is part of the Zacks Government Services industry, where another company, Booz Allen Hamilton (BAH), has seen a 3.2% increase in its EPS estimate over the past month [4][7] Market Demand - ICF is benefiting from strong demand in power and technical advisory services, ongoing needs from renewable developers, and increased resilience work for utilities, including underground power lines and environmental infrastructure [5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 | Delaware | 001-33045 | 22-3661438 | | --- | --- | --- | | (State or other jurisdiction of | (Commission File Number) | (I.R.S. Employer | | incorporation or organization) | | Identification Number) | | 1902 Reston Metro Plaza, Reston | | 20190 | | Virginia | | | | (Address of principal executive offices) | | (Zip Code) | Registrant's telephone number, including area code:(703) 934-3000 Not Applicable (Former name or former address, if ...

Core Insights - The U.S. Environmental Protection Agency (EPA) awarded a $75 million contract to ICF for human health and environmental risk assessments over a seven-year term [1][2][3] - ICF will utilize advanced technologies, including its proprietary Litstream® software, to assess chemical hazards and environmental stressors [2][3] - ICF has a long history of supporting EPA, having evaluated over 2,200 chemicals since 2011, and was awarded $33 million in task orders for additional assessments in late 2023 [3][4] Company Overview - ICF is a global consulting and technology services firm with approximately 9,000 employees, combining expertise in various fields to address complex challenges [6] - The company employs over 150 environmental health experts, including toxicologists and epidemiologists, to conduct comprehensive scientific analyses [4][6] - ICF has been involved in risk assessment programs for over 30 years, contributing to the understanding of the relationship between human health and environmental factors [3][4]

Core Insights - ICF International, Inc. (ICFI) has experienced a 28.5% appreciation over the past year and has consistently surpassed earnings estimates with an average beat of 11.57% [1][8] - Earnings growth is projected at 4.6% for 2024 and 13% for 2025 [1] Group 1: Company Performance - ICFI has a strong track record of earnings surprises, exceeding the Zacks Consensus Estimate in the last four quarters [1][8] - The company's current ratio at the end of Q1 2024 was 1.19, indicating good liquidity compared to 1.07 in the previous quarter and 1.29 a year ago [5] Group 2: Market Position and Strategy - ICFI operates in diverse markets including energy, environment, infrastructure, and healthcare, supported by a global presence with 55 regional offices in the U.S. and 15 international locations [2] - The company is focusing on expanding its commercial ventures, enhancing technology offerings, and penetrating government markets to increase revenues and shareholder value [3] Group 3: Growth Initiatives - ICFI is leveraging acquisitions for growth, including the 2023 acquisition of CMY Solutions to enhance power and energy advisory services and the 2022 acquisition of SemanticBits for advanced IT solutions [4] Group 4: Industry Context - ICFI's advisory services are in high demand due to a growing emphasis on transparency and efficiency, with opportunities identified in digital services and strategic communications [3]

ICF International, Inc. (ICFI) reported impressive first-quarter 2024 results, with both earnings and revenues surpassing the Zacks Consensus Estimate. The better-than-expected results impressed investors as the stock has gained 3.6% since the earnings release on May 2, 2024.Quarterly adjusted earnings per share of $1.77 beat the Zacks Consensus Estimate by 22.9% and gained 24.7% from the year-ago reported figure. Total revenues of $494.4 million beat the Zacks Consensus Estimate by a slight margin but incr ...

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Financial Data and Key Metrics Changes - Total revenues for Q1 2024 were $494.4 million, up 2.3% year-on-year. Excluding divestitures, revenues increased by 8.7% driven by growth from commercial energy clients and government customers [22][23][47] - Net income was $27.3 million, or $1.44 per diluted share, compared to $16.4 million, or $0.87 per diluted share in the same period last year. Non-GAAP EPS increased by 24.6% to $1.77 [42][22] - First quarter gross margins expanded by 190 basis points to 37.2% of total revenue, benefiting from energy efficiency contracts [40][41] Business Line Data and Key Metrics Changes - Revenues from the energy, environment, infrastructure, and disaster recovery client market increased by 20% year-on-year, accounting for 45% of total revenues [3][5] - Energy advisory revenues saw strong double-digit growth, driven by increased demand for power and technical advisory work [16] - Revenues from federal government clients increased by 2.4%, with a 5.4% increase when excluding subcontractor costs [76] Market Data and Key Metrics Changes - ICF is currently serving over 75 utilities across the country, with notable contract wins including $85 million in energy efficiency work and an $18 million electrification project [5][6] - The business development pipeline is valued at $9.7 billion, indicating strong alignment with government and commercial spending priorities [75] Company Strategy and Development Direction - The company is focused on key growth areas including energy efficiency, decarbonization, and disaster recovery, leveraging its expertise to support clients in these sectors [15][28] - ICF is actively pursuing acquisitions to enhance its capabilities in public health, data analytics, and energy, while maintaining a balanced approach to capital allocation [25][67] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued revenue growth, particularly in the second half of the year, supported by strong visibility into revenue streams [29][34] - The company anticipates that the Inflation Reduction Act (IRA) and Infrastructure Investment and Jobs Act (IIJA) will provide long-term growth opportunities over the next five to ten years [35][56] Other Important Information - The company announced a quarterly cash dividend of $0.14 per share, payable on July 12, 2024 [25] - ICF's adjusted net leverage ratio improved to 2.29 times, down from 3.09 times year-on-year [25] Q&A Session Summary Question: Expectations for revenue growth in the second half of the year - Management indicated that revenues are expected to increase in the second half, with strong growth anticipated as outlined in their guidance [29] Question: Impact of challenges in the commercial energy sector - Management noted that challenges in interconnection and permitting are creating opportunities for ICF to assist clients, particularly in grid modernization [30][32] Question: Insights on federal budget impacts - Management confirmed that the budget situation in key federal growth areas remains positive, with expectations for high single-digit growth [34] Question: Acquisition pipeline and market valuations - Management is actively looking for acquisition opportunities, noting that valuations have remained relatively stable despite market fluctuations [36][67] Question: Changes in RFP pace and client behavior - Management reported no significant shifts in RFP flow, with a strong pipeline and book-to-bill ratio indicating robust demand [68]

ICF International (ICFI) reported $494.44 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 2.3%. EPS of $1.77 for the same period compares to $1.42 a year ago.The reported revenue represents a surprise of +0.41% over the Zacks Consensus Estimate of $492.44 million. With the consensus EPS estimate being $1.44, the EPS surprise was +22.92%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to d ...

ICF International (ICFI) came out with quarterly earnings of $1.77 per share, beating the Zacks Consensus Estimate of $1.44 per share. This compares to earnings of $1.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 22.92%. A quarter ago, it was expected that this consulting and technology services provider would post earnings of $1.64 per share when it actually produced earnings of $1.68, delivering a surprise of 2.44%.Over ...