ICF International reports Q3 non-GAAP EPS $1.67, consensus $1.73

Reports Q3 revenue $465M, consensus $485.1M. CEO John Wasson said, “Our Q3 performance demonstrates the benefits of ICF’s diversified client base, our agility in adapting to challenging market conditions, and the success of our business development activities. We continued to see strong year-on-year growth in revenues from our commercial, state & local government and international government clients. Within this client set, revenue growth from commercial energy clients remained robust..We are successfully executing our plan to maintain similar margins to those of 2024. Adjusted EBITDA margin expanded by 10 basis points to 11.4% of Q3 revenues, primarily reflecting the increased contribution of higher-margin commercial energy revenues and the benefits of cost management initiatives…Approximately 50% of the awarded contracts in the federal government arena represented new business, a good indication that our capabilities, particularly in the area of IT modernization, are being recognized. Our business development pipeline was $8.4B at the end of Q3, which together with our year-to-date contract awards of $1.8 billion support our confidence in ICF’s ability to return to growth in 2026.”