For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?Developed alongside ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2024 were $494.4 million, up 2.3% year-on-year. Excluding divestitures, revenues increased by 8.7% driven by growth from commercial energy clients and government customers [22][23][47] - Net income was $27.3 million, or $1.44 per diluted share, compared to $16.4 million, or $0.87 per diluted share in the same period last year. Non-GAAP EPS increased by 24.6% to $1.77 [42][22] - First quarter gross margins expanded by 190 basis points to 37.2% of total revenue, benefiting from energy efficiency contracts [40][41] Business Line Data and Key Metrics Changes - Revenues from the energy, environment, infrastructure, and disaster recovery client market increased by 20% year-on-year, accounting for 45% of total revenues [3][5] - Energy advisory revenues saw strong double-digit growth, driven by increased demand for power and technical advisory work [16] - Revenues from federal government clients increased by 2.4%, with a 5.4% increase when excluding subcontractor costs [76] Market Data and Key Metrics Changes - ICF is currently serving over 75 utilities across the country, with notable contract wins including $85 million in energy efficiency work and an $18 million electrification project [5][6] - The business development pipeline is valued at $9.7 billion, indicating strong alignment with government and commercial spending priorities [75] Company Strategy and Development Direction - The company is focused on key growth areas including energy efficiency, decarbonization, and disaster recovery, leveraging its expertise to support clients in these sectors [15][28] - ICF is actively pursuing acquisitions to enhance its capabilities in public health, data analytics, and energy, while maintaining a balanced approach to capital allocation [25][67] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued revenue growth, particularly in the second half of the year, supported by strong visibility into revenue streams [29][34] - The company anticipates that the Inflation Reduction Act (IRA) and Infrastructure Investment and Jobs Act (IIJA) will provide long-term growth opportunities over the next five to ten years [35][56] Other Important Information - The company announced a quarterly cash dividend of $0.14 per share, payable on July 12, 2024 [25] - ICF's adjusted net leverage ratio improved to 2.29 times, down from 3.09 times year-on-year [25] Q&A Session Summary Question: Expectations for revenue growth in the second half of the year - Management indicated that revenues are expected to increase in the second half, with strong growth anticipated as outlined in their guidance [29] Question: Impact of challenges in the commercial energy sector - Management noted that challenges in interconnection and permitting are creating opportunities for ICF to assist clients, particularly in grid modernization [30][32] Question: Insights on federal budget impacts - Management confirmed that the budget situation in key federal growth areas remains positive, with expectations for high single-digit growth [34] Question: Acquisition pipeline and market valuations - Management is actively looking for acquisition opportunities, noting that valuations have remained relatively stable despite market fluctuations [36][67] Question: Changes in RFP pace and client behavior - Management reported no significant shifts in RFP flow, with a strong pipeline and book-to-bill ratio indicating robust demand [68]

ICF International (ICFI) reported $494.44 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 2.3%. EPS of $1.77 for the same period compares to $1.42 a year ago.The reported revenue represents a surprise of +0.41% over the Zacks Consensus Estimate of $492.44 million. With the consensus EPS estimate being $1.44, the EPS surprise was +22.92%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to d ...

ICF International (ICFI) came out with quarterly earnings of $1.77 per share, beating the Zacks Consensus Estimate of $1.44 per share. This compares to earnings of $1.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 22.92%. A quarter ago, it was expected that this consulting and technology services provider would post earnings of $1.64 per share when it actually produced earnings of $1.68, delivering a surprise of 2.44%.Over ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-33045 ICF International, Inc. (Exact name of Registrant as Specified in its Charter) Delaware 22-3661438 (State or Other Jurisd ...

Investors might want to bet on ICF International (ICFI) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the syste ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, incl ...

| Delaware | 001-33045 | 22-3661438 | | --- | --- | --- | | (State or other jurisdiction of | (Commission File Number) | (I.R.S. Employer | | incorporation or organization) | | Identification Number) | | 1902 Reston Metro Plaza, Reston | | 20190 | | Virginia | | | | (Address of principal executive offices) | | (Zip Code) | Registrant's telephone number, including area code:(703) 934-3000 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number: 001-33045 ICF INTERNATIONAL, INC. (Exact name of Registrant as specified in its charter) Delaware 22-3661438 (State or other jurisdictio ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for the period ended September 30, 2023, detailing the balance sheet, income statement, and cash flow statement, alongside notes, highlighting a **7.2% Q3 revenue increase**, improved operating cash flow to **$45.6 million**, and total assets of **$2.06 billion** [Consolidated Financial Statements (Balance Sheet, Income Statement, Cash Flow)](index=4&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements show total assets at **$2.055 billion**, Q3 2023 revenue at **$501.5 million** with net income of **$23.7 million**, and nine-month operating cash flow significantly improved to **$45.6 million** Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $477,408 | $466,718 | | **Total Assets** | $2,055,120 | $2,092,258 | | **Total Current Liabilities** | $369,177 | $415,992 | | **Total Liabilities** | $1,161,790 | $1,239,047 | | **Total Stockholders' Equity** | $893,330 | $853,211 | Consolidated Income Statement Highlights (in thousands, except per share amounts) | Metric | Q3 2023 | Q3 2022 | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $501,519 | $467,777 | $1,484,886 | $1,304,355 | | **Operating Income** | $31,901 | $28,234 | $95,399 | $85,713 | | **Net Income** | $23,740 | $19,105 | $60,450 | $55,364 | | **Diluted EPS** | $1.25 | $1.01 | $3.19 | $2.91 | Consolidated Cash Flow Highlights (Nine Months Ended, in thousands) | Cash Flow Activity | Sep 30, 2023 | Sep 30, 2022 | | :--- | :--- | :--- | | **Net Cash Provided by Operating Activities** | $45,552 | $6,596 | | **Net Cash Used in Investing Activities** | $(3,389) | $(253,403) | | **Net Cash (Used in) Provided by Financing Activities** | $(47,064) | $239,025 | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail that government clients comprise **76% of revenue**, CMY Solutions was acquired for **$32.6 million**, the effective tax rate decreased to **9.4%**, and total long-term debt is **$538.4 million** - Government clients (U.S. federal, state, local, and international) accounted for **76% of total revenue** for both the nine months ended September 30, 2023 and 2022[38](index=38&type=chunk) - On May 1, 2023, the Company acquired CMY Solutions, LLC for **$32.6 million** in cash. On July 21, 2023, it entered an agreement to sell its U.S. commercial marketing business for initial cash considerations of **$49.5 million**, resulting in a pre-tax gain of **$2.4 million**[62](index=62&type=chunk)[64](index=64&type=chunk) - The effective tax rate for the nine months ended September 30, 2023, was **9.4%**, a significant decrease from **23.2%** in the prior-year period. This was primarily due to the restructuring of Canadian entities and the winddown of its UK commercial marketing business[47](index=47&type=chunk)[48](index=48&type=chunk)[130](index=130&type=chunk) - As of September 30, 2023, the company had **$538.4 million** in total long-term debt outstanding before issuance costs, with an average interest rate of **6.6%**[34](index=34&type=chunk) - For the nine months ended September 30, 2023, the company repurchased **180,000 shares** for **$18.1 million**. As of September 30, 2023, **$93.7 million** remained available for share repurchases under the program[70](index=70&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=23&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses operational performance, highlighting a **7.2% Q3 2023 revenue increase**, a positive long-term outlook, Q3 Adjusted EBITDA of **$54.3 million**, and **$465.8 million** in available borrowing capacity [Overview and Outlook](index=24&type=section&id=Overview%20and%20Outlook) Management expresses a positive long-term outlook driven by demand in key markets and a strategy focused on enhancing client relationships, pursuing larger contracts, and strategic acquisitions - The company's strategy is to enhance client relationships, seek larger engagements spanning the entire program life cycle, and complete strategic acquisitions[84](index=84&type=chunk) - Management believes long-term demand will be driven by heightened concerns about the environment, clean energy, health promotion, disaster recovery, and homeland security threats[83](index=83&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) This section details financial results, showing Q3 2023 revenue growth of **7.2%** to **$501.5 million** and net income up **24.3%**, with nine-month revenue increasing **13.8%** to **$1.48 billion** Q3 2023 vs. Q3 2022 Financial Results (in thousands) | Metric | Q3 2023 | Q3 2022 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenue** | $501,519 | $467,777 | 7.2% | | **Operating Income** | $31,901 | $28,234 | 13.0% | | **Net Income** | $23,740 | $19,105 | 24.3% | Nine Months 2023 vs. 2022 Financial Results (in thousands) | Metric | Nine Months 2023 | Nine Months 2022 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenue** | $1,484,886 | $1,304,355 | 13.8% | | **Operating Income** | $95,399 | $85,713 | 11.3% | | **Net Income** | $60,450 | $55,364 | 9.2% | - The **7.2% revenue increase** in Q3 was driven by growth from U.S. state and local government (**$11.5 million**), commercial (**$10.0 million**), and U.S. federal government (**$7.7 million**) clients. The Energy, Environment, Infrastructure, and Disaster Recovery market grew by **14.4%**[110](index=110&type=chunk)[111](index=111&type=chunk) - The **13.8% revenue increase** for the nine-month period was driven by growth from U.S. federal government (**$104.1 million**), commercial (**$43.4 million**), and U.S. state and local government (**$37.5 million**) clients. The Health and Social Programs market grew by **21.3%**[121](index=121&type=chunk)[122](index=122&type=chunk) [Non-GAAP Measures](index=32&type=section&id=Non-GAAP%20Measures) The company presents non-GAAP measures, with Q3 2023 Adjusted EBITDA at **$54.3 million** and Non-GAAP Diluted EPS at **$1.81**, providing a clearer view of operational performance Reconciliation to Adjusted EBITDA (in thousands) | Metric | Q3 2023 | Q3 2022 | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net Income** | $23,740 | $19,105 | $60,450 | $55,364 | | **EBITDA** | $49,198 | $43,025 | $143,106 | $120,290 | | **Adjusted EBITDA** | $54,279 | $50,605 | $156,206 | $136,626 | Reconciliation to Non-GAAP Diluted EPS | Metric | Q3 2023 | Q3 2022 | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | :--- | :--- | | **U.S. GAAP Diluted EPS** | $1.25 | $1.01 | $3.19 | $2.91 | | **Non-GAAP Diluted EPS** | $1.81 | $1.61 | $4.81 | $4.23 | [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position with **$465.8 million** in available borrowing capacity, improved Days Sales Outstanding to **73 days**, and positive operating cash flow of **$45.6 million** - As of September 30, 2023, the company had **$465.8 million** in available borrowing capacity under its Credit Facility[142](index=142&type=chunk) - Days Sales Outstanding (DSO) improved to **73 days** at September 30, 2023, from **87 days** at September 30, 2022, partly due to a receivables purchase agreement and improved collection efforts[149](index=149&type=chunk) - For the nine months ended September 30, 2023, net cash from operating activities was **$45.6 million**, a significant increase from **$6.6 million** in the prior year period[155](index=155&type=chunk)[156](index=156&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes have occurred in the company's market risk disclosures since its Annual Report on Form 10-K for the year ended December 31, 2022 - There have been no material changes in the disclosures regarding market risk since the company's last Annual Report[159](index=159&type=chunk) [Item 4. Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2023, with no significant changes in internal controls identified - Based on an evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period[160](index=160&type=chunk) [PART II. OTHER INFORMATION](index=38&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal matters but does not anticipate any material adverse effect on its financial position, results of operations, or cash flows - The company does not expect ongoing legal proceedings to have a material adverse effect on its financial results[164](index=164&type=chunk) [Item 1A. Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred in the company's risk factors since its Annual Report on Form 10-K for the year ended December 31, 2022 - There have been no material changes in the risk factors since the company's last Annual Report[165](index=165&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This section details share repurchase activity, noting no repurchases under the publicly announced program during Q3 2023, with only **91 shares** purchased for tax withholding - During the three months ended September 30, 2023, the company did not repurchase any shares under its publicly announced stock repurchase program[166](index=166&type=chunk) [Other Items (3, 4, 5, 6)](index=38&type=section&id=Other%20Items%20(3%2C%204%2C%205%2C%206)) This section covers remaining disclosures, including no defaults on senior securities, no mine safety disclosures, and the adoption of Rule 10b5-1 trading plans by the CEO and COO - In August 2023, the CEO, John Wasson, and the COO, James Morgan, each adopted a Rule 10b5-1 trading plan for the potential sale of company shares[170](index=170&type=chunk)[171](index=171&type=chunk) - The company reports no defaults upon senior securities (Item 3) and that mine safety disclosures are not applicable (Item 4)[168](index=168&type=chunk)[169](index=169&type=chunk)