ICF International (NASDAQ:ICFI) Releases Quarterly Earnings Results

ICF International (NASDAQ:ICFI) released its earnings results on Thursday. The business services provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.06), FiscalAI reports. ICF International had a net margin of 5.13% and a return on equity of 13.40%. The business had revenue of $443.67 million for the quarter, compared to the consensus estimate of $440.90 million. During the same period in the prior year, the company posted $1.87 EPS. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. ICF International updated its Q1 2026 guidance to 1.550-1.55 EPS and its FY 2026 guidance to 6.950-7.250 EPS.

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

• ICF is guiding a return to growth in 2026 with revenues $1.89B–$1.96B (≈3% midpoint) and non‑GAAP EPS $6.95–$7.25, and Q1 revenue guidance of about $450M.
• Management expects non‑federal clients to drive the year — non‑federal revenues grew 14% in 2025 and are projected to exceed 60% of 2026 revenues, led by commercial energy which reached nearly $550M and grew ~24% in 2025.
• The federal business remains the principal near‑term headwind after a ~25% revenue decline in 2025; ICF expects a high‑single‑digit federal revenue decline in 2026 but forecasted sequential improvement with a return to YoY growth by Q4, supported by a firm backlog of $3.4B and an $8.6B pipeline.
• Profitability and balance‑sheet actions are supportive — full‑year adjusted EBITDA margin held near 11.1%, operating cash flow was ~$142M, debt fell to $401M (adjusted leverage ~1.98x), management repurchased ~564,000 shares, declared a $0.14 quarterly dividend, and expects modest margin upside (10–20 bps) from AI efficiencies.

ICF International Stock Up 6.1%

Shares of NASDAQ ICFI traded up $4.56 during midday trading on Thursday, reaching $79.72. 312,991 shares of the company’s stock traded hands, compared to its average volume of 141,537. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 15.04 and a beta of 0.43. The stock’s 50 day simple moving average is $87.34 and its 200-day simple moving average is $88.74. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.45. ICF International has a one year low of $72.03 and a one year high of $102.05.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ICFI. Truist Financial increased their target price on ICF International from $82.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, January 14th. Weiss Ratings restated a “hold (c-)” rating on shares of ICF International in a report on Monday, December 29th. Canaccord Genuity Group began coverage on shares of ICF International in a research report on Tuesday, December 2nd. They issued a “buy” rating and a $115.00 price objective for the company. Finally, Barrington Research lowered their price objective on shares of ICF International from $107.00 to $102.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, ICF International presently has a consensus rating of “Moderate Buy” and an average price target of $102.33.

Institutional Trading of ICF International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in ICF International by 0.6% in 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 position in ICF International during the 3rd quarter worth $8,354,000. Third Avenue Management LLC increased its position in ICF International by 12.4% during 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 buying an additional 5,840 shares in the last quarter. Russell Investments Group Ltd. raised its stake in ICF International by 62.2% in the fourth quarter. Russell Investments Group Ltd. now owns 21,132 shares of the business services provider’s stock valued at $1,803,000 after buying an additional 8,104 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in ICF International by 376.4% in the third quarter. Ameriprise Financial Inc. now owns 19,381 shares of the business services provider’s stock worth $1,799,000 after acquiring an additional 15,313 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

More ICF International News

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

• Positive Sentiment: Company-issued FY‑2026 guidance implies a return to growth with EPS guidance of $6.95–$7.25 and revenue guidance roughly $1.9–$2.0B, roughly in line with Street expectations — management framed 2026 as a recovery year. ICF Reports Fourth Quarter and Full Year 2025 Results
• Positive Sentiment: Q1‑2026 revenue guidance of ~$450M was provided and is above the Street’s Q1 revenue consensus, giving near‑term top‑line visibility. ICF Reports Fourth Quarter and Full Year 2025 Results
• Positive Sentiment: Large contract awards, a book‑to‑bill of ~0.95 for the quarter and $2.2B of awards for the year, plus solid operating cash flow ($142M FY‑2025), support revenue visibility and cash generation. ICFI Releases Q4 2025 Earnings: Revenue Declines and EPS Miss
• Positive Sentiment: Board declared a quarterly dividend and there were recent insider purchases and notable institutional additions reported — signals of shareholder‑friendly actions and investor interest. ICF International Declares Quarterly Dividend Amid Strategic Shift
• Neutral Sentiment: Wall Street sentiment and price targets remain mixed but constructive (median target ~ $102); analysts are watching 2026 execution. ICFI Releases Q4 2025 Earnings: Revenue Declines and EPS Miss
• Negative Sentiment: Q4 results showed a miss on EPS ($1.47 vs. ~$1.53 consensus) and operating metrics weakened: YoY revenue and gross profit declined and operating profit fell sharply — signs of near‑term margin pressure. ICF International (ICFI) Misses Q4 Earnings and Revenue Estimates
• Negative Sentiment: Key profitability metrics and GAAP EPS were down Y/Y (net income and diluted EPS declined), and some estimates were missed on a GAAP and non‑GAAP basis — risk if 2026 execution slips. ICFI Releases Q4 2025 Earnings: Revenue Declines and EPS Miss

ICF International Company Profile

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.