ICF International (NASDAQ:ICFI) Posts Earnings Results, Beats Estimates By $0.21 EPS

ICF International (NASDAQ:ICFI) announced its quarterly earnings results on Thursday. The business services provider reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.21, FiscalAI reports. ICF International had a net margin of 4.86% and a return on equity of 11.59%. The firm had revenue of $474.50 million during the quarter, compared to the consensus estimate of $478.30 million. During the same quarter last year, the firm earned $1.66 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. ICF International updated its FY 2026 guidance to 6.950-7.250 EPS.

Here are the key takeaways from ICF International’s conference call:

• Full-year guidance was reaffirmed, with 2026 revenue expected at $1.89 billion–$1.96 billion and non-GAAP EPS at $6.95–$7.25; management expects sequential revenue growth in both remaining quarters and a return to year-over-year growth beginning in Q3.
• Commercial and international markets remained key growth drivers: commercial revenue increased 6% year over year, commercial energy efficiency revenue rose 6.7%, and international government revenue jumped 35% as previously awarded contracts ramped.
• Profitability and balance-sheet metrics improved, with adjusted EBITDA margin rising 10 basis points to 11.2%, net interest expense declining nearly 20%, core operating cash flow reaching $56.7 million, and net debt falling to $403 million.
• Federal revenue declined 9.5% year over year, while procurement delays, agency variability, and more frequent protests constrained federal awards; quarterly book-to-bill was 0.85, with federal activity the primary drag.
• Management cited a $9.3 billion pipeline, more than $200 million in contract awards since quarter-end, and strong positioning in commercial energy, technology modernization, and disaster management; it also expects mid- to high-single-digit company growth in 2027.

ICF International Trading Up 11.4%

NASDAQ:ICFI traded up $9.69 during mid-day trading on Friday, hitting $95.00. 464,434 shares of the stock traded hands, compared to its average volume of 229,569. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 19.67 and a beta of 0.51. ICF International has a 52 week low of $58.83 and a 52 week high of $101.71. The firm’s 50 day moving average is $75.37 and its two-hundred day moving average is $74.71. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43.

ICF International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 4th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.6%. ICF International’s payout ratio is currently 12.12%.

ICF International declared that its board has approved a share repurchase program on Thursday, June 25th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the business services provider to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

ICFI has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ICF International in a research note on Friday, July 24th. Wall Street Zen raised ICF International from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $102.33.

Trending Headlines about ICF International

Here are the key news stories impacting ICF International this week:

• Positive Sentiment: Adjusted EPS exceeded expectations. ICF reported second-quarter non-GAAP EPS of $1.86, up from $1.66 a year earlier and above analyst estimates of approximately $1.65-$1.69. Net income was $27 million, while adjusted EBITDA reached $53.4 million, or 11.2% of revenue. ICF Reports Second Quarter 2026 Results
• Positive Sentiment: Management reaffirmed its full-year outlook. ICF maintained 2026 adjusted EPS guidance of $6.95-$7.25 and revenue guidance of $1.9-$2.0 billion, broadly consistent with analyst expectations. Reaffirmation reduces the risk of a near-term forecast cut. ICF International Declares Dividend, Reaffirms 2026 Outlook
• Positive Sentiment: Future demand indicators were constructive. The business development pipeline reached $9.3 billion at quarter-end, and the company highlighted potential reacceleration in commercial energy and an inflection in federal growth. William Blair maintained a Buy rating, citing these opportunities. ICF International Transitional Quarter Sets Stage for Growth
• Positive Sentiment: ICF declared a quarterly dividend of $0.14 per share, payable October 9 to shareholders of record September 4. The dividend supports shareholder returns, though its annualized yield is modest at roughly 0.6%.
• Neutral Sentiment: Revenue was mixed. Second-quarter revenue of $474.5 million was essentially flat year over year and below the $478.3 million consensus estimate. The quarterly book-to-bill ratio was 0.85, although the trailing-12-month ratio remained healthier at 1.09. ICF Q2 Earnings Metrics Versus Estimates
• Negative Sentiment: Growth remains subdued. The sales shortfall and flat year-over-year revenue underscore slower near-term expansion, while the company described the quarter as transitional and pointed to gradual rather than immediate growth.

Insider Activity

In other news, CEO John Wasson sold 12,411 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $80.08, for a total transaction of $993,872.88. Following the transaction, the chief executive officer owned 27,511 shares of the company’s stock, valued at approximately $2,203,080.88. This represents a 31.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Handel Michael J. Van purchased 8,000 shares of ICF International stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $61.39 per share, for a total transaction of $491,120.00. Following the completion of the acquisition, the director owned 24,254 shares of the company’s stock, valued at approximately $1,488,953.06. This trade represents a 49.22% increase in their position. The SEC filing for this purchase provides additional information. 1.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On ICF International

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in ICF International by 2,121.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 422 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 403 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of ICF International during the second quarter worth $246,000. Jump Financial LLC boosted its stake in shares of ICF International by 195.3% during the fourth quarter. Jump Financial LLC now owns 6,756 shares of the business services provider’s stock valued at $576,000 after purchasing an additional 4,468 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of ICF International by 1,392.3% during the third quarter. Russell Investments Group Ltd. now owns 13,028 shares of the business services provider’s stock valued at $1,209,000 after purchasing an additional 12,155 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of ICF International by 5,229.4% in the third quarter. Public Employees Retirement System of Ohio now owns 17,214 shares of the business services provider’s stock worth $1,597,000 after purchasing an additional 16,891 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

About ICF International

ICF International (NASDAQ: ICFI), commonly known as ICF, is a global consulting and digital services provider specializing in the intersection of strategy, technology, and policy. The firm delivers integrated services and solutions to government and commercial clients in areas such as energy and environment, health and social programs, transportation, infrastructure, technology, and marketing and communications. ICF’s offerings span strategic planning, data analytics, program evaluation, digital transformation, and implementation support.

Founded in 1969 and headquartered in Reston, Virginia, ICF has grown through both organic expansion and targeted acquisitions to broaden its capabilities and geographic reach.