ICF International Stock Barely Moves Since Q3 Earnings Beat

ICF International, Inc. ICFI reported mixed third-quarter 2024 results, with earnings surpassing the Zacks Consensus Estimate but revenues missing the same.The earnings beat failed to impress the market as the stock did not move much since the release of results on Oct. 31, 2024.Quarterly earnings per share of $2.13 beat the Zacks Consensus Estimate by 17.7% and gained 17.7% from the year-ago reported figure. Total revenues of $517 million missed the Zacks Consensus Estimate by 2.9% but increased 3.1% year over year.The company’s shares have gained 28.4% in the trailing 12 months, outperforming the 20.5% rally of its industry.ICF International, Inc. Price, Consensus and EPS Surprise ICF International, Inc. price-consensus-eps-surprise-chart | ICF International, Inc. QuoteSegmental RevenuesRevenues from government clients increased 1.1% from the year-ago quarter’s level to $387.8 million, below our estimate of $405.5 million. The U.S. state and local government revenues of $78.9 million, representing 15.3% of total revenues, lagging our prediction of $83.9 million and gaining 3% year over year.International government revenues reached $26.9 million, representing 5.2% of the total revenues, beating our anticipated $25.5 million. It declined slightly from the year-ago quarter’s actual.U.S. federal government revenues of $282 million contributed 54.5% to the total revenues, lagged our estimate of $296.1 million, but increased marginally on a year-over-year basis.Commercial revenues, representing 25% of the total revenues, amounted to $129.2 million, outpacing our expectation of $126.1 million, up 23.7% from the year-ago quarter.Operating PerformanceAdjusted EBITDA increased 8% year over year to 58.2 million. The current adjusted EBITDA margin of 11.3% increased 50 basis points from the year-ago quarter.Balance Sheet and Cash FlowICF International exited the quarter with cash and cash equivalents of $6.9 million compared with $4.1 million in the previous quarter. Long-term debt at the end of the quarter was $405.4 million, down from $421.6 million in the preceding quarter.ICFI generated $25.5 million in cash from operating activities. CapEx was $5.2 million.2024 GuidanceICFI trimmed its 2024 revenue guidance. It now expects revenues to be between $2 billion and  $2.03 billion, down from the previous anticipation of $2.03 billion and $2.1 billion. The mid-point ($2.015 billion) of the revised guided range is slightly below the current Zacks Consensus Estimate.ICFI raised its earnings guidance to $7.4-$7.5 per share from the view of $6.95-$7.25 provided in the preceding quarter. The revised guided range is above the current Zacks Consensus Estimate of $7.23.Currently, ICF International sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Recent Earnings SnapshotsOmnicom OMC reported impressive third-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.OMC’s earnings of $2 per share beat the consensus estimate by 3.1% and increased 9.1% year over year. Total revenues of $3.9 billion surpassed the consensus estimate by 2.3% and increased 8.5% year over year.Equifax EFX reported mixed third-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate while revenues missed the same.EFX’s adjusted earnings were $1.8 per share, beating the Zacks Consensus Estimate by a slight margin and increasing 5.1% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 9.3% from the year-ago quarter.Republic Services, Inc. RSG reported mixed third-quarter 2024 results.RSG’s earnings per share of $1.8 outpaced the Zacks Consensus Estimate by 11.7% and grew 17.5% from the year-ago quarter. Revenues of $4.1 billion missed the consensus mark by a slight margin, while it increased 6.5% on a year-over-year basis.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. 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