ICF Reports First Quarter 2026 Results

About this update from Icf International, Inc.

Reaffirms Full Year Guidance for a Return to Growth in 2026 ―First Quarter Revenue Performance Reflects Shift of Approximately $12 Million; Half Expected to be Recovered in Q2 and the Remainder in H2― ―Revenues From Federal Government Clients Increased 9% Sequentially― ―Delivered Strong Margin Performance― First Quarter Highlights: RESTON, Va., May 7, 2026 /PRNewswire/ -- ICF (NASDAQ: ICFI), a leading global solutions and technology provider, reported results for the first quarter ended March 31, 2026. Management CommentaryJohn Wasson, chair and chief executive officer, said, "We continue to execute effectively across our diversified client set, and we are pleased to report that revenues from federal government clients increased considerably on a sequential basis, in line with our expectations. Additionally, revenues from international government clients increased over 17% year-on-year, representing substantial growth tied to recent contract wins from U.K. and European Union clients. "Our total quarterly revenue performance was $12 million, lower than expected due to the timing of approximately $8 million in project work for commercial energy clients and $4 million in work for international government clients. We expect to recover those revenues—half in the second quarter and the remainder during the second half of this year—which supports our full year 2026 guidance for 3% companywide revenue growth at the midpoint. "Gross margin advanced 10 basis points year-on-year, and adjusted EBITDA margin was 11.2%, remaining steady with 2025 levels. Margins benefited from favorable business mix together with cost management initiatives. We continued to invest organically in key long-term growth areas, including commercial energy, disaster management and technology modernization, while maintaining our capabilities in federal health, education and social programs. The first quarter tax rate was higher than anticipated due to less than estimated equity-based deductible compensation expense. For the full year, we continue to expect a tax rate of 20.5%. "This was a solid quarter of contract awards for ICF. We were awarded $450 million in contracts, representing a quarterly book-to-bill ratio of 1.03 and a trailing twelve-month book-to-bill ratio of 1.21. New business represented approximately 65% of this quarter's awards, demonstrating how well ...

View stock analysis, news, and events for Icf International, Inc.