Professional consulting firm ICF International (NASDAQ:ICFI) will be announcing earnings results this Thursday after market close. Here’s what to expect.
ICF International beat analysts’ revenue expectations last quarter, reporting revenues of $443.7 million, down 10.6% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ revenue estimates but a 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 decline 8% year on year, a further deceleration from the 1.4% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have 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 multiple 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. Jacobs Solutions delivered year-on-year revenue growth of 8.8%, beating analysts’ expectations by 2%, and UL Solutions reported revenues up 7.5%, topping estimates by 1.2%.
Read our full analysis of Jacobs Solutions’s results here and UL Solutions’s results here.
There has been positive sentiment among investors in the professional services segment, with share prices up 11% on average over the last month. ICF International is up 9.2% 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 $73.85).
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