Overview
U.S. solutions and technology provider's Q1 revenue fell YoY and missed analyst expectations
Adjusted EPS for Q1 missed analyst expectations, while adjusted EBITDA beat estimates
Company says Q1 revenue was impacted by $12 mln project timing shift, with recovery expected later in 2026
Outlook
ICF reaffirms 2026 revenue guidance of $1.89 bln to $1.96 bln, 3% growth at midpoint
Company expects 2026 GAAP EPS of $5.95-$6.25 and non-GAAP EPS of $6.95-$7.25
ICF forecasts operating cash flow of $135 mln to $150 mln for 2026
Result Drivers
PROJECT TIMING - Co said Q1 revenue was about $12 mln lower than expected due to timing of project work for commercial energy and international government clients, with recovery expected later in 2026
FEDERAL GOVERNMENT GROWTH - Sequential revenue growth from federal government clients was driven by technology modernization work
INTERNATIONAL CONTRACT WINS - International government revenues rose over 17% year-on-year, supported by recent contract wins from U.K. and European Union clients
Company press release: ID:nPn7NwmSDa
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$437.5 mln
$448.62 mln (5 Analysts)
Q1 Adjusted EPS
Miss
$1.50
$1.55 (5 Analysts)
Q1 EPS
$1.12
Q1 Net Income
$20.50 mln
Q1 Adjusted EBITDA
Beat
$48.90 mln
$48.28 mln (5 Analysts)
Q1 EBITDA
$47.30 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the business support services peer group is "buy"
Wall Street's median 12-month price target for ICF International Inc is $108.50, about 47.5% above its May 6 closing price of $73.58
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 13 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)