Professional consulting firm ICF International (NASDAQ: ICFI) will be announcing earnings results this Thursday afternoon. Here’s what to expect.
ICF International missed analysts’ revenue expectations last quarter, reporting revenues of $474.5 million, flat year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a narrow beat of analysts’ full-year EPS guidance 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 grow 5.5% year on year, a reversal from the 10% 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 professional services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Booz Allen Hamilton’s revenues decreased 3.9% year on year, missing analysts’ expectations by 1.1%, and UL Solutions reported revenues up 5.1%, topping estimates by 1%. Booz Allen Hamilton traded up 6.1% following the results.
Read our full analysis of Booz Allen Hamilton’s results here and UL Solutions’s results here.
Investors in the professional services segment have had steady hands going into earnings, with share prices flat over the last month. ICF International is up 18.3% during the same time and is heading into earnings with an average analyst price target of $107.25 (compared to the current share price of $98).
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