Professional consulting firm ICF International (NASDAQ:ICFI) will be reporting earnings this Thursday after market hours. Here’s what investors should know.
ICF International missed analysts’ revenue expectations by 1% last quarter, reporting revenues of $476.2 million, down 7% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a slight miss of analysts’ revenue 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, analysts are expecting ICF International’s revenue to decline 6.3% year on year to $484.2 million, a reversal from the 3.1% 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 three 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 8.1% year on year, missing analysts’ expectations by 2.7%, and FTI Consulting reported revenues up 3.3%, topping estimates by 1.2%. Booz Allen Hamilton traded down 13.7% following the results while FTI Consulting was up 1.3%.
Read our full analysis of Booz Allen Hamilton’s results here and FTI Consulting’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 down 5.3% during the same time and is heading into earnings with an average analyst price target of $104.50 (compared to the current share price of $88.14).
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