ICF appoints energy expert Caroline Angoorly to board

RESTON, Va. - ICF (NASDAQ:ICFI), a consulting and digital services provider with a market capitalization of $1.61 billion and a healthy gross margin of 36.53%, announced today the appointment of Caroline Angoorly to its board of directors. Angoorly, noted for her extensive experience in the energy, infrastructure, and environment sectors, joins the board with a history of developing growth-oriented business strategies. According to InvestingPro analysis, ICF maintains a perfect Piotroski Score of 9, indicating strong financial health.

Angoorly’s career spans leadership roles across various organizations, including GreenTao LLC, a firm she founded, which focuses on developing and financing energy and low-carbon infrastructure projects. She has also served as the COO of NY Green Bank, North American head of environmental markets for J.P. Morgan, head of Northeast and Mid-Atlantic development for NRG Energy, and as a partner in the global project finance group at Milbank. With ICF currently trading at an attractive P/E ratio of 14.97 relative to its growth potential, InvestingPro analysis suggests the stock may be undervalued, presenting an interesting opportunity for investors seeking exposure to the consulting sector.

John Wasson, ICF’s Chair and CEO, expressed confidence in Angoorly’s ability to guide the company through the evolving energy landscape, highlighting her skill in identifying market opportunities and fostering cross-sector collaboration. The company has demonstrated solid financial performance, generating annual revenue of $2.02 billion with a robust return on equity of 12%.

Angoorly’s appointment comes after ICF’s successful 2024 performance in the commercial energy market, where the company saw expansion in its technology and service offerings, including demand side management and grid resilience.

ICF, with a workforce of approximately 9,000, prides itself on a collaborative approach that merges industry expertise with innovative strategies to address complex challenges. The company has served both public and private sector clients since 1969.

This announcement is based on a press release statement and it should be noted that forward-looking statements involve risks and uncertainties. These statements are not guarantees of future performance and are subject to various factors that could impact ICF’s actual results.

In other recent news, ICF International reported its fourth-quarter 2024 earnings, which revealed a slight beat on earnings per share (EPS) at $1.87, surpassing the forecast of $1.84. However, the company’s revenue fell short, coming in at $496 million against the projected $500.2 million. For the full year of 2024, ICF’s revenue increased by 2.9% year-over-year, reaching $2.02 billion, with a 6% growth in adjusted EBITDA. Despite these gains, the company faces challenges as Truist Securities and Canaccord Genuity both downgraded their outlooks on ICF International. Truist lowered its price target to $97, maintaining a Hold rating, while Canaccord reduced its rating from Buy to Hold and halved its price target to $100. Analysts cited concerns over the company’s federal segment, which is facing potential budget cuts and policy changes. Additionally, ICF secured contracts from the European Commission and the U.K. Government with a combined value exceeding $210 million, reflecting its expanding presence in the European market.

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