Engility Holdings (NYSE: EGL) and ICF International (NASDAQ: ICFI) — both listed in Executive Mosaic’s GovCon Index reported first quarter earnings and revenue figures after U.S. financial markets closed Thursday that either exceeded or met the consensus analyst forecast for both figures.
Chantilly, Virginia-based services contractor Engility said first quarter earnings came in at 24 cents per share excluding acquisition and integration costs plus asset expenses to top Wall Street forecasts by 4 cents.
Net loss for the January-March period was 9 cents per share, or around $3.23 million, when including costs and other items related to Engility’s acquisitions of TASC in February 2015 and Dynamics Research Corp. in January 2014.
First quarter revenue totaled $522.78 million versus analyst expectations of $516.85 million to show a 29.83-percent increase from the prior year period on added contributions from TASC.
The company also reported long-term debt of approximately $1.08 billion as of April 1 with earnings before interest, taxes, depreciation and amortization at close to $40.28 million.
Engility held to its guidance of earnings in the $1.00-to-$1.15 per share range with revenue of $2 billion-to-$2.15 billion.
Fairfax-headquartered consulting company ICF posted first quarter earnings of 60 cents to fall in-line with Wall Street forecasts with overall profit up 23.67 percent from the same period in 2015 to $9.77 million.
ICF reported $283.6 million in revenue to exceed the analyst outlook of $280.03 million with the contractor’s federal government business up 6.6 percent year-over-year to $137.3 million, which represents 49 percent of the company’s total first quarter sales.
The company also reaffirmed its full-year outlook of earnings at $2.79-to-$2.94 per share and revenue in the $1.15 billion-to-$1.19 billion.
As of Thursday’s market close, shares in Engility are down 40.86 percent from the start of the year and 27.73 percent over 12 months, while ICF’s stock is at a year-to-date gain of 7.93 percent and 2.95 percent for 52 weeks.
