ICF International (NASDAQ:ICFI) Announces Earnings Results

Posted by Brenda Bartman on Nov 7th, 2026

ICF International (NASDAQ:ICFI – Get Free Report) announced its earnings results on Thursday. The business services provider reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.06, FiscalAI reports. The firm had revenue of $470.50 million during the quarter, compared to analyst estimates of $490.83 million. ICF International had a return on equity of 11.95% and a net margin of 5.29%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.67 EPS.

Here are the key takeaways from ICF International’s conference call:

Revenue rose 1.1% to $470.5 million, but utility clients’ pauses on incremental energy-efficiency program spending contributed to a roughly $15 million third-quarter shortfall, with a similar impact expected in Q4. ICF lowered its 2026 revenue outlook to approximately $1.87 billion, roughly flat year over year.
Despite lower revenue expectations, ICF maintained its 2026 non-GAAP EPS midpoint of $7.10, implying 4.9% annual growth; third-quarter adjusted EBITDA margin expanded 10 basis points to 11.5%. Strong cash generation and lower interest expense also supported debt reduction, with net debt down to $368 million.
Bookings and forward indicators remained supportive: quarterly awards increased 4.5%, book-to-bill was 1.59, backlog stood at $3.5 billion, and the business development pipeline reached $8.2 billion. Management expects year-over-year revenue growth in Q4 and across all client categories in 2027, but did not provide specific 2027 guidance.
State and local revenue grew 7.6% and international government revenue rose 12%, while federal revenue increased 3.4% sequentially but declined 3.5% year over year amid procurement delays. Management expects federal year-over-year growth in Q4, while noting that near-term disaster-management activity remains constrained by funding delays and fewer major events.

ICF International Price Performance

Shares of ICFI stock traded down $15.70 on Friday, reaching $79.68. The company’s stock had a trading volume of 395,084 shares, compared to its average volume of 164,341. The company has a market capitalization of $1.43 billion, a P/E ratio of 15.01 and a beta of 0.45. ICF International has a 12-month low of $58.83 and a 12-month high of $100.63. The stock’s 50 day simple moving average is $88.29 and its 200-day simple moving average is $79.00. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.39.

ICF International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Friday, December 4th will be paid a $0.14 dividend. The ex-dividend date is Friday, December 4th. This represents a $0.56 annualized dividend and a yield of 0.7%. ICF International’s dividend payout ratio is currently 11.59%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barrington Research set a $110.00 price target on shares of ICF International in a report on Friday, August 14th. Weiss Ratings upgraded shares of ICF International from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Finally, Wall Street Zen lowered shares of ICF International from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

View Our Latest Research Report on ICFI

Insider Transactions at ICF International

In other ICF International news, EVP Sergio Ostria sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $88.59, for a total value of $177,180.00. Following the completion of the transaction, the executive vice president owned 24,467 shares of the company’s stock, valued at $2,167,531.53. The trade was a 7.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Wasson sold 6,400 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $88.32, for a total transaction of $565,248.00. Following the completion of the transaction, the chief executive officer owned 6,339 shares of the company’s stock, valued at $559,860.48. This trade represents a 50.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.71% of the company’s stock.

ICF International News Roundup

Here are the key news stories impacting ICF International this week:

Positive Sentiment: Third-quarter non-GAAP EPS was $1.98, beating the $1.92 consensus and rising 19% year over year. Margin gains from efficient contract delivery and a favorable contract mix supported profitability. ICF Reports Third Quarter 2026 Results
Positive Sentiment: Contract awards totaled $746 million, up 4.5% from a year earlier, with a quarterly book-to-bill ratio of 1.59 and trailing-twelve-month ratio of 1.11—indicators of demand and future work. ICF Reports Third Quarter 2026 Results
Neutral Sentiment: ICF declared a quarterly dividend of $0.14 per share, equivalent to $0.56 annually. The modest yield provides income but is unlikely to be a major near-term catalyst.
Negative Sentiment: Revenue was $470.5 million, below analysts’ estimate of about $490.8 million, despite increasing 1% year over year. ICF maintained its 2026 non-GAAP EPS guidance midpoint despite the lower revenue outlook, limiting the scope for a positive forecast surprise. ICFI Q3 Earnings Beat Estimates on Margin Gains, Revenues Miss

About ICF International

(Get Free Report)

ICF International, Inc is a global consulting and technology services company that helps government agencies, businesses and nonprofit organizations address complex policy, management and operational challenges. The company combines research, advisory services, data analytics, technology implementation and strategic communications to support clients from program design through execution and evaluation.

ICF’s work spans energy and climate, environment, transportation, public health, health care, community development, disaster recovery, workforce programs and public-sector modernization.