ICF International (ICFI) Misses Q3 EPS by 7c, offers outlook

ICF International (NASDAQ: ICFI) reported Q3 EPS of $1.67, $0.07 worse than the analyst estimate of $1.74. Revenue for the quarter came in at $465 million versus the consensus estimate of $487.46 million.

Summary and Outlook

\"Year-to-date results have put us on track for our 2025 results to be within the guidance framework we provided at the beginning of this year, which stated that a 10% decline in revenues, GAAP EPS and Non-GAAP EPS from 2024 levels was the maximum downside risk we foresaw from the loss of business primarily from federal government clients during this transition year. At that time, we stated that our guidance framework did not consider the potential impact of an extended government shutdown. In the month of October, we estimate that ICF\'s revenues will be reduced by approximately $8 million and gross profit by approximately $2.5 million as a result of the current government shutdown. Based on this monthly impact continuing, we are pleased to be able to maintain our original guidance framework for revenues and Non-GAAP EPS even if the government shutdown extends through the end of the year. Given these assumptions, we expect the year-on-year decline in fourth quarter revenues and Non-GAAP EPS would be similar to what was reported for the third quarter. We are revising our operating cash flow estimate for 2025 to range from $125 million to $150 million to reflect the timing of payments as a result of the government shutdown.

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

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