ICF International (NASDAQ: ICFI) reported Q3 EPS of $0.83, $0.03 better than the analyst estimate of $0.80. Revenue for the quarter came in at $305 million versus the consensus estimate of $311.55 million.

Summary and Outlook

“ICF’s year-to-date results reflect solid performance and represents our ability to capture growth across our diversified client set.

“Based on year-to-date results and current visibility, we have narrowed our full year 2017 guidance ranges. We expect revenue to range from $1.21 billion to $1.23 billion, diluted earnings per share to be between $2.50 and $2.60, and Non-GAAP EPS to range from $2.95 to $3.05. Additionally, we continue to expect operating cash flow to be in the range of $90 million to $100 million.

“Looking ahead to 2018, we believe that ICF’s government business is well positioned to support key federal agencies where spending is likely to remain stable or increase compared to fiscal 2017 levels, to assist state and local jurisdictions with post-hurricane housing recovery, and to further drive international revenue growth. On the commercial side, we expect energy markets to continue to grow thanks to contracts won and a robust business development pipeline, and commercial marketing services to build on positive year-to-date business development momentum and success in winning integrated contracts,” Mr. Kesavan concluded.

GUIDANCE:

ICF International sees FY2017 EPS of $2.95-$3.05, versus the consensus of $2.99. ICF International sees FY2017 revenue of $1.21-1.23 billion, versus the consensus of $1.22 billion.

Third Quarter Highlights

• Total Revenue was $305 Million, Supported by 4 Percent Year-over-Year Growth in Commercial Revenue
• Diluted EPS was $0.72; Non-GAAP EPS¹ Was $0.83
• EBITDA¹ Margin on Revenue was 10.1 Percent; EBITDA Margin on Service Revenue¹ was 13.9 Percent
• Contract Awards Totaled $401 Million; Trailing Twelve Month Contract Awards were $1.29 Billion, Representing a Book-to-Bill Ratio of 1.1
• Operating Cash Flow Reached $70 Million Year-to-Date, up 21.6 Percent Year-over-Year

For earnings history and earnings-related data on ICF International (ICFI) click here.