ICF Reports Second Quarter 2020 Results

About this update from Icf International, Inc.

[{"type":"text","content":"FAIRFAX, Va., Aug. 4, 2020 /PRNewswire/ -- \n\n \n \n \n \n \n \n\n \nSecond Quarter Highlights:\nTotal Revenue Was $354 Million, Down 3.5% Primarily Reflecting Lower Pass-Through Revenues Service Revenue¹ Up 3.5% Led by Growth in Revenues from Federal Government and Commercial Energy Clients Diluted EPS of $0.72; Non-GAAP EPS¹ Was $0.89 EBITDA¹ Increased 3.7%; Adjusted EBITDA¹ Stable Year-over-Year Adjusted EBITDA Margin on Service Revenue¹ Was 12.4% Contract Awards of $282 Million; TTM Contract Awards Were $1.5 Billion for a Book-to-Bill Ratio of 1.0 Positive Cash Flow for First Half, Substantially Above Last Year's Levels—Business Development Pipeline Exceeds $7 Billion——Reaffirms Full Year 2020 Guidance—\nICF (NASDAQ:ICFI), a global consulting and digital services provider, reported results for the second quarter ended June 30, 2020. \n\"Second quarter results demonstrated the strength and resilience of ICF's diversified business model,\" said John Wasson, president and chief executive officer. Service revenue increased 3.5% year-over-year and 2.3% sequentially, led by our federal government and commercial energy businesses. Favorable business mix, higher utilization and lower G&A costs drove a 3.7% year-over-year increase in EBITDA and sequential increases of 30.9% in GAAP EPS, 7.2% in Non-GAAP EPS and 28.6% in EBITDA, on revenues that were stable with first quarter levels. \n1 Non-GAAP EPS, Service Revenue, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted EBITDA Margin on Service Revenue are non-GAAP measurements. A reconciliation of all non-GAAP measurements to the most applicable GAAP number is set forth below. Special charges are items that were included within our consolidated statements of comprehensive income but are not indicative of ongoing performance and have been presented net of applicable U.S. GAAP taxes. The presentation of non-GAAP measurements may not be comparable to other similarly titled measures used by other companies.\n\"We are very pleased with our results for the period, which reflected strong execution in several key areas of focus, including IT modernization and public health in our federal markets, commercial energy advisory and implementation projects for utility clients and disaster management work. Disaster management now is expected to account for approximately $110 million in rev...

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