ICF Awarded New $21 Million Contract for California Infrastructure Project

ICF (NASDAQ: ICFI) was awarded a $21 million contract to lead environmental reviews for the Diridon Station Redevelopment Project in San Jose, California.

Rhea-AI Summary

ICF (NASDAQ: ICFI) was awarded a $21 million contract to lead environmental reviews for the Diridon Station Redevelopment Project in San Jose, California. The contract term is three years with up to two additional option years.

ICF will provide project management, technical studies, data modeling, environmental reviews and community engagement to help meet state and federal requirements.

Positive

• $21 million awarded contract to lead environmental reviews
• Contract term: 3 years with up to 2 option years
• Comprehensive services including project management, technical studies, modeling and community engagement
• Work on a major regional project (Diridon Station) led by five public agencies

Negative

• None.

Argus Feb 4 session

+1.26% close to close Open Argus

Details

News Market Reaction – ICFI

In the Feb 4 session, ICFI gained 1.26%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement adds a $21M California infrastructure-related contract to ICF’s recent string of p...

Analysis

This announcement adds a $21M California infrastructure-related contract to ICF’s recent string of public-sector wins, complementing prior awards such as the $64M Pennsylvania modernization project and European contracts with ceilings near $300M. It underscores the firm’s role in complex environmental and transit work. Investors may watch upcoming earnings, backlog trends, and additional contract disclosures to gauge how these wins translate into revenue and margin performance.

Key Figures

Contract value: $21M Contract term: 3 years Option years: 2 years +5 more

Contract value

$21M

Diridon Station Redevelopment environmental review contract

Contract term

3 years

Base period for Diridon Station contract

Option years

2 years

Additional option years on Diridon Station contract

Years experience

50+ years

ICF history supporting complex infrastructure projects

Share price

$93.77

Latest price prior to news

Daily move

0.56%

Price change over prior 24 hours

52-week high

$119.48

ICFI 52-week high level

52-week low

$72.0258

ICFI 52-week low level

Historical Context

5 past events · Latest: Jan 22

5 events

1. Jan 22

   Government contract win

   24h Move

   +1.2%

   Award of $64M Pennsylvania environmental claims data modernization contract.

2. Jan 13

   European contracts

   24h Move

   +1.9%

   New European communication contracts with combined ceiling near $300M.

3. Dec 15

   Digital contract vehicle

   24h Move

   +1.1%

   Selection under Maryland’s $300M nine-year digital experience IDIQ contract.

4. Dec 08

   Workplace recognition

   24h Move

   +0.8%

   Named to U.S. News Best Company to Work For and Fortune innovation list.

5. Dec 03

   Investor conference

   24h Move

   +1.9%

   Participation in Sidoti virtual investor conference with executive fireside chat.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Will Provide Environmental Reviews for Major Transit Station Redevelopment Project

RESTON, Va., Feb. 3, 2026 /PRNewswire/ -- ICF (NASDAQ: ICFI), a leading global solutions and technology provider, has been awarded a $21 million contract to lead environmental reviews for the Diridon Station Redevelopment Project in San Jose, California. The contract has a term of three years with up to two additional option years.

The Diridon Station, a key local transit hub, will be expanded and redesigned to address Northern California's future transit needs. ICF will deliver environmental services to the project including project management, technical studies, data modeling and analysis, environmental reviews and community and stakeholder engagement. These services will help ensure the project meets state and federal requirements, avoids delays, and is responsive to citizen needs.

"The Diridon Station Redevelopment Project reflects challenges many state and local governments face—bringing needed infrastructure improvements to life, while meeting environmental and community commitments," said Kyle Wiggins, ICF senior vice president for energy, environment and infrastructure. "We're excited to work alongside California's agencies to provide the analysis and engagement needed to move their efforts forward responsibly and transparently."

The Diridon Station Redevelopment Project is being advanced by a partnership of five agencies: the Peninsula Corridor Joint Powers Board (Caltrain), the City of San Jose, the Santa Clara Valley Transportation Authority, the California High-Speed Rail Authority and the Metropolitan Transportation Commission. Caltrain led the procurement on behalf of the partners.

ICF combines technology solutions with local staff with deep, industry-specific expertise to help state and local governments deliver more with less. For over 50 years, ICF has supported hundreds of complex transportation, water and energy infrastructure projects in states nationwide that help agencies and organizations navigate regulatory environments, manage statewide initiatives and deliver localized solutions. 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. 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/icf-awarded-new-21-million-contract-for-california-infrastructure-project-302677829.html

SOURCE ICF

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did ICF (ICFI) announce on February 3, 2026 about Diridon Station?

ICF announced it was awarded a $21 million contract to lead environmental reviews for Diridon Station. According to the company, the work covers management, technical studies, modeling, environmental reviews and community engagement over a multi-year term.

How long is the ICF (ICFI) contract for the Diridon Station Redevelopment Project?

The contract has a base term of three years with up to two additional option years. According to the company, the options extend project support if the partners choose to exercise them during redevelopment.

What services will ICF (ICFI) provide under the $21 million Diridon Station contract?

ICF will deliver project management, technical studies, data modeling, environmental reviews and community and stakeholder engagement. According to the company, these services aim to meet state and federal requirements and support timely project delivery.

Who is advancing the Diridon Station Redevelopment Project that ICF (ICFI) will support?

A five-agency partnership is advancing the project: Caltrain, City of San Jose, Santa Clara VTA, California High-Speed Rail Authority and MTC. According to the company, Caltrain led the procurement on behalf of the partners.

Does the ICF (ICFI) announcement indicate how the work will impact regulatory compliance?

The announcement says ICF's environmental reviews and analysis will help ensure the project meets state and federal requirements and avoids delays. According to the company, the services are designed to support regulatory compliance and stakeholder responsiveness.