ICF International (ICFI) Surpasses Q2 Earnings and Revenue Estimates

Company Performance - ICF International (ICFI) reported quarterly earnings of $1.69 per share, exceeding the Zacks Consensus Estimate of $1.52 per share, and showing an increase from $1.57 per share a year ago, resulting in an earnings surprise of 11.18% [1] - The company posted revenues of $512.03 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.74% and up from $500.09 million year-over-year [2] - ICF has surpassed consensus EPS estimates in all four of the last quarters and has topped consensus revenue estimates three times in the same period [2] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.75 on revenues of $533.12 million, and for the current fiscal year, it is $6.79 on revenues of $2.06 billion [7] - The estimate revisions trend for ICF is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Government Services industry, to which ICF belongs, is currently ranked in the top 40% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]