ICF International (ICFI) Tops Q3 Earnings Estimates

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].