ICF International, Inc. ICFI reported impressive fourth-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate.

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Quarterly earnings per share of $1.87 beat the Zacks Consensus Estimate by 0.5% and gained 11.3% from the year-ago reported figure. Total revenues of $496.3 million topped the Zacks Consensus Estimate by 0.5% and increased 3.8% year over year.

ICF International, Inc. Price, Consensus and EPS Surprise

ICF International, Inc. price-consensus-eps-surprise-chart | ICF International, Inc. Quote

The company’s shares have declined 35.4% in the trailing 12 months, underperforming the 25.1% fall of its industry.

ICFI’s Segmental Revenues

Revenues from government clients decreased 1.6% from the year-ago quarter’s level to $363.1 million, below our estimate of $375.2 million. The U.S. state and local government revenues of $75.5 million, representing 15.2% of total revenues, lagged our prediction of $78 million and declined 1.1% year over year.

International government revenues reached $30.0 million, representing 6% of the total revenues, beating our anticipated $23.4 million. It increased 4.2% from the year-ago quarter’s actual.

U.S. federal government revenues of $257.7 million contributed 51.9% to the total revenues, lagged our estimate of $273.9 million, but increased 2.4% on a year-over-year basis.

Commercial revenues, representing 26.8% of the total revenues, amounted to $133.2 million, outpacing our expectation of $119 million, up 21.8% from the year-ago quarter.

Operating Performance of ICFI

Adjusted EBITDA rose 6% year over year to 58.2 million. The current adjusted EBITDA margin of 11.2% increased 30 basis points from the year-ago quarter.

ICFI’s Balance Sheet and Cash Flow

ICF International exited the quarter with cash and cash equivalents of $5 billion compared with $6.4 billion in the year-ago quarter. Long-term debt at the end of the quarter was $4.1 billion, down from $4 billion in the year-ago quarter.

ICFI generated $172 million in cash from operating activities. CapEx was $76.4 million.

2025 Guidance by ICFI

For the first quarter of 2025, ICFI expects revenues in the band of $480- $500 million. The midpoint ($490 million) of the revised guided range is below the current Zacks Consensus Estimate of $531 million.

GAAP EPS is anticipated between $1.35 and $1.45 per share and non-GAAP EPS in the range of $1.70-$1.80 per share, similar to results in the first quarter of 2024. The midpoint ($1.75) of the revised guided range is slightly below the current Zacks Consensus Estimate of $1.89 per share.

Currently, ICF International carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Earnings Snapshot

Broadridge Financial Solutions, Inc. BR reported impressive second-quarter fiscal 2025 results, as earnings and revenues surpassed the Zacks Consensus Estimate.

BR’s adjusted earnings of $1.6 per share outpaced the consensus mark by 12.2% and increased 69.6% from the year-ago quarter. Total revenues of $1.6 billion surpassed the consensus mark by 3% and rose 12.8% year over year.

Automatic Data Processing, Inc. ADP reported impressive second-quarter fiscal 2025 results. Both earnings and revenues surpassed the Zacks Consensus Estimate.

ADP’s earnings per share of $2.4 beat the consensus estimate by 3.5% and increased 10.3% from the year-ago quarter. Total revenues of $5 billion surpassed the consensus estimate by 1.6% and grew 8.2% on a year-over-year basis.

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