Icf Intl Inc Stock Price, News & Analysis

ICF has secured a $26 million recompete contract from a federal agency to enhance critical business systems over three years. This initiative includes a 1-year base period with two optional extensions. The project aims to modernize digital operations and improve high-speed connectivity nationwide. ICF will utilize its Appian practice and existing expertise in federal case and grants management to drive effective outcomes. The company emphasizes its commitment to delivering scalable technology solutions to federal clients.

ICF has secured two contracts totaling $34 million from the U.S. Department of Labor's Bureau of International Labor Affairs (ILAB) to combat forced and child labor globally. Awarded in Q3 2022, these five-year contracts involve providing research and advisory services. ICF has partnered with ILAB since 2004, leveraging innovative research to trace labor exploitation in supply chains. Mark Lee, ICF's EVPS, emphasized the company's commitment to protecting vulnerable populations and informing policy changes.

ICF reported third quarter 2022 revenue of $468 million, a 22% increase in service revenue to $335 million. Diluted EPS was $1.01, including a $0.28 tax-effected charge. Non-GAAP EPS climbed 22% to $1.61. Adjusted EBITDA reached $49.8 million, with a margin of 14.8%. Contract awards totaled $865 million, driving a trailing twelve-month book-to-bill ratio of 1.31. Notable acquisitions included SemanticBits and Blanton & Associates, enhancing growth potential in key areas like health services and environmental consulting. A quarterly dividend of $0.14 was also declared.

ICF has secured contracts exceeding $30 million to support suicide prevention and substance use disorder programs for the U.S. Department of Health and Human Services' SAMHSA. The services include evaluation and engagement solutions, technology and data analytics for case management, and enhancing website and communication efforts. Additionally, ICF will assist in the national evaluation for the Garrett Lee Smith Youth Suicide Prevention Program. This marks a significant expansion of ICF's role in public health, particularly in addressing critical behavioral health challenges.

The U.S. Department of Homeland Security (DHS) has selected ICF as an awardee under the Scalable Ways to Implement Flexible Tasks (SWIFT) IDIQ contract to modernize technology across the Immigration and Customs Enforcement (ICE) enterprise. The five-year contract has a ceiling value of $340 million and allows ICF to compete as one of two prime contractors in the PaaS domain. ICF aims to deliver scalable self-service solutions leveraging platforms like Salesforce and ServiceNow, boasting a 100% client retention rate in digital modernization projects.

ICF has appointed Michael Jung as the executive director of the ICF Climate Center, a platform dedicated to climate research and insights. Jung, who has over 25 years of experience in climate and energy policy, previously served as vice president for government affairs at the Pacific Northwest Generating Cooperative. His leadership is crucial at a time when climate challenges intensify and significant federal funding is being allocated for climate initiatives. The ICF Climate Center aims to leverage the expertise of over 2,000 climate professionals to provide impactful research and analyses.

The U.S. Department of the Interior's Bureau of Reclamation has awarded ICF a $15 million contract for environmental consulting services over four years. This contract supports the long-term operation of the Central Valley and State Water projects, critical for California's water infrastructure. ICF will leverage its expertise in applied science and regulatory compliance to assist these projects in addressing environmental challenges related to wildlife, water operations, and infrastructure improvements. ICF has decades of experience in environmental projects, engaging stakeholders, and navigating regulations.

The National Institutes of Health (NIH) awarded ICF a five-year recompete task order to provide digital content management and outreach services for the National Center for Complementary and Integrative Health (NCCIH). The contract includes a one-year base period with four one-year options. ICF will enhance NCCIH's website and conduct usability testing to improve user experience. According to ICF executive Mark Lee, the initiative will ensure timely updates on complementary health practices. ICF has over a decade of experience working with NCCIH, offering expertise in digital solutions for federal health clients.

ICF (NASDAQ:ICFI) will release its third quarter 2022 results on November 3, 2022, after market close. The results will be available at investor.icf.com. A conference call to discuss the earnings will occur at 4:30 p.m. Eastern Time on the same day. Interested participants must register in advance to obtain a unique PIN. The earnings release and conference call are key events for stakeholders, reflecting the company's financial performance and strategic outlook.