ICF International (NASDAQ:ICFI) Issues Quarterly Earnings Results, Beats Expectations By $0.21 EPS

ICF International (NASDAQ:ICFI) issued its quarterly earnings results on Thursday. The business services provider reported $1.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $474.50 million during the quarter, compared to the consensus estimate of $478.30 million. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. 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 Stock Up 11.4%

ICFI traded up $9.69 on Friday, reaching $95.00. The company’s stock had a trading volume of 464,434 shares, compared to its average volume of 229,569. The stock has a 50 day moving average of $75.37 and a two-hundred day moving average of $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. The company 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 fifty-two week low of $58.83 and a fifty-two week high of $101.71.

ICF International Announces Dividend

The firm also recently announced 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 is Friday, September 4th. This represents a $0.56 annualized dividend and a yield of 0.6%. ICF International’s payout ratio is presently 12.12%.

Insider Buying and Selling

In related news, Director Handel Michael J. Van acquired 8,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were bought at an average price of $61.39 per share, with a total value of $491,120.00. Following the completion of the acquisition, the director owned 24,254 shares in the company, valued at $1,488,953.06. This trade represents a 49.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Wasson sold 12,411 shares of the business’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 sale, the chief executive officer owned 27,511 shares of the company’s stock, valued at $2,203,080.88. This represents a 31.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ICF International

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of ICF International by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 458,175 shares of the business services provider’s stock worth $39,089,000 after purchasing an additional 2,535 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of ICF International in the 3rd quarter valued at about $8,354,000. Third Avenue Management LLC boosted its position in shares of ICF International by 12.4% in the 4th quarter. Third Avenue Management LLC now owns 52,864 shares of the business services provider’s stock valued at $4,509,000 after purchasing an additional 5,840 shares during the period. Russell Investments Group Ltd. boosted its position in shares of ICF International by 62.2% in the 4th quarter. Russell Investments Group Ltd. now owns 21,132 shares of the business services provider’s stock valued at $1,803,000 after purchasing an additional 8,104 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in ICF International by 376.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 19,381 shares of the business services provider’s stock worth $1,799,000 after buying an additional 15,313 shares during the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of ICF International in a report on Friday, July 24th. Wall Street Zen upgraded shares of ICF International from a “hold” rating to a “strong-buy” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $102.33.

ICF International News Summary

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.

ICF International declared that its Board of Directors has initiated a share buyback plan on Thursday, June 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the business services provider to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.