Florida Awards ICF Comprehensive Management Services Contract

Rhea-AI Summary

ICF (NASDAQ: ICFI) was selected as an awardee on Florida's expanded, three-year comprehensive management services contract, giving the company eligibility to provide statewide management services across all categories.

ICF will offer disaster management, grants and program management, environmental and infrastructure support, workforce development, technology modernization and digital communications via ICF Next to support Florida departments and communities.

News Market Reaction – ICFI

-4.34%

1 alert

-4.34% News Effect

On the day this news was published, ICFI declined 4.34%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Contract term: three-year

1 metrics

Contract term three-year Florida comprehensive management services contract duration

Market Reality Check

Price: $75.15 Vol: Volume 146,827 is 1.05x t...

normal vol

$75.15 Last Close

Volume Volume 146,827 is 1.05x the 20-day average of 139,397 shares before this news. normal

Technical Shares at $79.01 were trading below the 200-day MA of $88.20 and 24.75% under the 52-week high.

Peers on Argus

Before this Florida contract news, ICFI was up 0.34% with modestly above-average...

2 Up

Before this Florida contract news, ICFI was up 0.34% with modestly above-average volume, while key consulting peers showed mixed moves (e.g., CRAI up 1.47%, DGNX down 10.64%, FCN down 0.33%). Momentum scanner activity in DGNX and HTZ to the upside did not clearly align with ICFI’s modest move, suggesting today’s headline is more company-specific than sector-driven.

Historical Context

5 past events · Latest: Feb 19 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 19	Contract amendment win	Positive	-1.1%	Southern California Edison expanded agricultural energy efficiency contract.
Feb 10	Leadership appointment	Positive	+0.9%	New senior VP named to lead energy, environment and infrastructure market.
Feb 05	Cyber certification	Positive	-1.4%	Company achieved CMMC Level 2 cybersecurity certification supporting government work.
Feb 03	Infrastructure contract	Positive	+1.3%	$21M contract for environmental reviews on California infrastructure project.
Jan 22	Large IT contract	Positive	+1.2%	$64M Pennsylvania data modernization and operations recompete award.

Pattern Detected

Recent positive contract and capability wins have produced mixed reactions, with three aligned price gains and two divergences where shares slipped despite constructive news.

Recent Company History

Over the last few months, ICF has reported several growth- and capability-focused developments. These include a $64 million Pennsylvania data modernization contract on Jan 22, a $21 million California infrastructure contract on Feb 3, a CMMC Level 2 cybersecurity certification on Feb 5, and a multi‑million dollar expansion with Southern California Edison on Feb 19. Leadership changes were also announced, with Anne Choate becoming President. The new Florida comprehensive management services award fits this pattern of government-facing contract and infrastructure work.

Market Pulse Summary

This announcement adds another statewide government contract to ICF’s recent string of wins, includi...

Analysis

This announcement adds another statewide government contract to ICF’s recent string of wins, including the $64 million Pennsylvania modernization deal and $21 million California infrastructure project. The Florida award broadens exposure across disaster management, infrastructure support and technology modernization. Historically, similar positive news has produced mixed short-term price reactions, so investors may focus on upcoming earnings on Feb 26, 2026 to gauge how these contracts translate into backlog and revenue trends.

Key Terms

disaster management, infrastructure resilience

2 terms

disaster management technical

"A wide range of services will be provided including disaster management, program and grants management..."

Disaster management is the planning, preparations and actions a business uses to prevent, respond to and recover from sudden events like storms, fires, cyberattacks or supply-chain breakdowns. Investors care because effective disaster management limits lost revenue, repair costs and reputational damage—similar to a household having both smoke detectors and an emergency kit—while poor planning can trigger prolonged downtime, regulatory fines and reduced company value.

infrastructure resilience technical

"ICF's services will support statewide efforts with improving and accelerating program delivery and building long-term infrastructure resilience."

Infrastructure resilience is the ability of physical systems—like power grids, water supplies, transportation, and communications—to withstand shocks, recover quickly, and keep operating under stress. For investors, resilient infrastructure reduces the risk of business interruptions, unexpected repair costs, regulatory penalties and lost revenue, much like a well-built house with backups and reinforced supports that keeps occupants safe and functioning during storms.

AI-generated analysis. Not financial advice.

Statewide Vehicle Provides Access to Broad Array of Services 

RESTON, Va., Feb. 23, 2026 /PRNewswire/ -- The Florida Department of Management Services (DMS) has selected leading global solutions and technology provider ICF (NASDAQ: ICFI) as an awardee on its expanded, three-year comprehensive management services contract. Under this recompete contract vehicle, ICF is eligible to provide management services to statewide programs across all service categories.

Through this contract, ICF will support programs to strengthen operations, deliver critical public services and positively impact Florida communities. A wide range of services will be provided including disaster management, program and grants management, environmental, infrastructure and agricultural support, workforce development and technology modernization. ICF will also leverage the expertise of ICF Next, the company's integrated, full-service digital and communications agency, to help state departments connect with Florida residents, municipalities and stakeholders more effectively.

ICF's services will support statewide efforts with improving and accelerating program delivery and building long-term infrastructure resilience.

"Florida needs a proven partner who can move quickly, compliantly and cost-effectively," said Kyle Wiggins, ICF senior vice president for energy, environment and infrastructure. "Our decades of experience delivering large-scale programs, managing statewide initiatives and implementing advanced technology solutions will help improve efficiencies and deliver measurable results for communities across Florida."

ICF combines technology solutions with local staff who have deep, industry-specific expertise to help state and local governments deliver more with less. Working with various states nationwide, ICF has achieved measurable results in building stronger, more resilient communities.

About ICF
ICF is a leading global solutions and technology provider with approximately 9,000 employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.

Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and various risks and uncertainties related to health epidemics, pandemics, and similar outbreaks. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements that are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.

Contact: Lauren Dyke, lauren.dyke@ICF.com, +1.571.373.5577

View original content to download multimedia:https://www.prnewswire.com/news-releases/florida-awards-icf-comprehensive-management-services-contract-302694752.html

SOURCE ICF

FAQ

What did ICF (ICFI) win from Florida on February 23, 2026?

ICF won selection as an awardee on a three-year statewide comprehensive management services contract. According to the company, the contract makes ICF eligible to provide management services across all service categories for Florida state programs.

What services will ICF provide to Florida under the three-year contract (ICFI)?

ICF will provide disaster management, program and grants management, environmental and infrastructure support, workforce development, and technology modernization. According to the company, ICF Next will handle digital and communications engagement with residents and stakeholders.

How will the Florida contract affect ICF's (ICFI) government services operations?

The contract expands ICF's opportunity to support statewide program delivery and resilience efforts in Florida. According to the company, it will help accelerate program delivery, strengthen operations and improve outcomes for Florida communities.

Does the Florida award to ICF (ICFI) include digital and communications work?

Yes. The award allows ICF to leverage ICF Next for integrated digital and communications services. According to the company, this aims to help state departments connect more effectively with residents, municipalities and stakeholders.

What is the duration and scope of the Florida management services contract for ICF (ICFI)?

The contract is an expanded, three-year statewide vehicle covering all service categories for management services. According to the company, it is a recompete contract vehicle making ICF eligible to support multiple state programs across Florida.