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Earnings To Watch: ICF (ICFI) Reports Q3 Results Tomorrow

ICFI Cover Image

Consulting and technology services company ICF International (NASDAQ:ICFI) will be reporting earnings tomorrow afternoon. Here’s what to expect.

ICF beat analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $512 million, up 2.4% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ operating margin estimates and optimistic earnings guidance for the full year.

Is ICF a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting ICF’s revenue to grow 5.3% year on year to $528 million, slowing from the 7.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.77 per share.

ICF Total Revenue

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 has missed Wall Street’s revenue estimates twice over the last two years.

Looking at ICF’s peers in the defense contractors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Leidos delivered year-on-year revenue growth of 6.9%, beating analysts’ expectations by 3%, and CACI reported revenues up 11.2%, topping estimates by 7%. CACI traded up 5.4% following the results.

Read our full analysis of Leidos’s results here and CACI’s results here.

Investors in the defense contractors segment have had steady hands going into earnings, with share prices flat over the last month. ICF is up 1.8% during the same time and is heading into earnings with an average analyst price target of $172.25 (compared to the current share price of $169.36).

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