Professional consulting firm ICF International (NASDAQ: ICFI) will be reporting earnings tomorrow after market close. Here’s what investors should know.
ICF International met analysts’ revenue expectations last quarter, reporting revenues of $496.3 million, up 3.8% year on year. It was a very strong quarter for the company, with revenue guidance for next quarter exceeding analysts’ expectations and a narrow beat of analysts’ EPS estimates.
Is ICF International a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting ICF International’s revenue to decline 1.6% year on year to $486.5 million, a reversal from the 2.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.73 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ICF International has missed Wall Street’s revenue estimates four times over the last two years.
Looking at ICF International’s peers in the professional services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CoStar delivered year-on-year revenue growth of 11.5%, meeting analysts’ expectations, and Huron reported revenues up 11.2%, topping estimates by 0.8%.
Read our full analysis of CoStar’s results here and Huron’s results here.
Investors in the professional services segment have had fairly steady hands going into earnings, with share prices down 2% on average over the last month. ICF International’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $105 (compared to the current share price of $84.60).
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