The Stock on Analysts Watch-List: ICF International, Inc.’s (NASDAQ:ICFI)

On Thursday, shares of ICF International, Inc.’s (NASDAQ:ICFI) marked value of $1.60B per share versus a previous $83.43 closing price. With having a 1.09%, at the moment are trading at a volume of 0.12 million, which compares with its normal daily standard volume of 0.12 million shares.

ICF (ICFI), a global consulting and digital services provider, stated results for the 2nd quarter ended June 30, 2k19. “This was another quarter of strong operating performance for ICF, in which we posted double-digit revenue growth that was aligned with the positive catalysts we have identified in our government and commercial markets,” stated Sudhakar Kesavan, Chairman and Chief Executive Officer.

“Revenue from government clients increased 17.8 percent, led by our work on disaster recovery programs and higher revenues from U.S. federal government agency clients. Commercial revenues increased 4.6 percent year-on-year, reflecting growth in marketing services and energy efficiency implementation programs. Favorable revenue mix, increased service revenue1, and higher utilization drove a 19.5 percent increase in adjusted EBITDA1. Our adjusted EBITDA margin on service revenue was 13.0 percent, 110 basis points higher year-on-year.

2nd quarter 2k19 Results

2nd quarter 2k19 total revenue was $366.7M, representing 13.1 percent growth over the $324.3M stated in the 2nd quarter of 2k18. Service revenue increased 9.2 percent year-over-year to $252.3M, from $231.0M. Net income was $14.6M in the 2nd quarter, up 7.3 percent from $13.6M in the 2nd quarter of 2k18. Diluted earnings per share amounted to $0.76, a 7.0 percent increase from $0.71per diluted share in the previous year quarter.

Non-GAAP EPS increased 21.3 percent to $0.97 per share from $0.80 per share in the year ago quarter. EBITDA1 was $30.2M, up 10.5 percent from $27.3M stated in the 2nd quarter of 2k18. Adjusted EBITDA1 was $32.7M, 19.5 percent above the $27.4M stated in the comparable quarter of 2k18. 2nd quarter 2k19 adjusted EBITDA margin on service revenue expanded by 110 basis points to 13.0 percent from 11.9 percent in the 2k18 2nd quarter.

Backlog and New Business Awards

Total backlog was $2.4B at the end of the 2nd quarter of 2k19. Funded backlog was $1.0B, or about 43 percent of the total backlog. The total value of contracts awarded in the 2k19 2nd quarter was $403.1M, resulting in a trailing-twelve-month (TTM) book-to-bill ratio of 1.15.

Government Revenue 2nd quarter 2k19 Highlights

Revenue from government clients was $245.7M, up 17.8 percent year-over-year.

  • S. federal government revenue increased by 1.2 percent year-on-year to $141.2M, contrast to $139.5Min the year ago quarter. Federal government revenue accounted for 38 percent of total revenue, contrast to 43 percent of total revenue in the 2nd quarter of 2k18.
  • S. state and local government revenue increased by 111.1 percent year-on-year to $72.9M, driven by our disaster recovery work. State and local government clients represented 20 percent of total revenue, importantly ahead of the 11 percent of total revenue accounted for in the 2k18 2nd quarter.
  • International government revenue was $31.7M, contrast to $34.6Min the year-beforequarter, and accounted for 9 percent of total revenue, contrast to 11 percent in the 2nd quarter of 2k18. On a constant currency basis, international government revenue was down an estimated 2.6 percent.

Dividend Declaration

On August 1, 2k19, ICF reported a quarterly cash dividend of $0.14 per share, payable on October 15, 2k19 to shareholders of record on September 13, 2k19.

Summary and Outlook

“ICF continued to execute well in the first half of this year, leveraging our domain expertise to take advantage of growth opportunities across our government and commercial client sets. Year-to-date operating results, recent wins and pipeline activity support our expectations for substantial growth in 2k19 and beyond. Consequently, we have raised the midpoints for our guidance ranges for revenues and earnings. We now expect 2k19 revenues to range from $1.475B to $1.5B, GAAP EPS to be between $3.80 and $3.95, exclusive of special charges, and Non-GAAP EPS to be in the range of $4.10 to $4.25. Operating cash flow is projected to be in the range of $100M to $120M.

The short ratio in the company’s stock is documented at 1.31 and the short float is around of 0.86%. Analysts mean Recommendation on a stock is noted at 2.00. Analyst Recommendation is an outlook of a stock-market analyst on a stock. Rating Scale: 1.0 represent “Strong Buy” and 2.0 signify “Buy” 3.0 while shows “Hold”. 4.0 display “Sell” and 5.0 reveal “Strong Sell” rating. The average true range of the stock is observed at 1.98 and the relative strength index of the stock is recorded at 58.58.

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