Professional consulting firm ICF International (NASDAQ: ICFI) will be reporting results this Thursday afternoon. Here’s what to expect.
ICF International missed analysts’ revenue expectations last quarter, reporting revenues of $437.5 million, down 10.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates.
Is ICF International a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting ICF International’s revenue to be flat year on year, improving from the 7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. ICF International has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at ICF International’s peers in the government & technical consulting segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Booz Allen Hamilton’s revenues decreased 4.2% year on year, missing analysts’ expectations by 0.5%, and UL Solutions reported revenues up 5.2%, in line with consensus estimates. Booz Allen Hamilton traded up 8.8% following the results.
Read our full analysis of Booz Allen Hamilton’s results here and UL Solutions’s results here.
There has been positive sentiment among investors in the government & technical consulting segment, with share prices up 7.8% on average over the last month. ICF International is up 15.2% during the same time and is heading into earnings with an average analyst price target of $105.25 (compared to the current share price of $86.21).
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