ICF International Inc
NASDAQ:ICFI
ICF International Inc
In the realm of consulting firms, ICF International Inc. stands as a paragon of strategic application, seamlessly bridging the gap between knowledge and tangible impact. Founded in 1969 and headquartered in Fairfax, Virginia, ICF began its journey with a focus on energy consulting. Over decades, it has evolved into a comprehensive provider of professional services and technology solutions, impacting sectors such as energy, environment, public health, and public safety. ICF leverages its deep domain expertise and extensive network of professionals to partner with government and commercial clients, working on programs that are designed to improve quality of life and promote sustainable practices. This dynamic organization thrives on addressing multifaceted challenges, from climate change initiatives to cybersecurity, using data analysis and cutting-edge technologies as the backbone of its solutions.
ICF International's business model is built on a foundation of consulting services, where it derives revenue through fixed-price, time-and-material, and performance-based contracts. By embedding itself within the intricacies of its clients' operations, ICF provides tailored solutions that help achieve policy objectives, streamline processes, and deliver valuable outcomes. It employs a host of subject matter experts whose collaborative efforts drive efficiency and innovation across projects. This allows ICF to not only offer advisory services but also to directly implement strategies that ensure comprehensive project delivery. As a result, ICF doesn't just offer guidance; it becomes an integral part of its clients' success stories, converting theoretical frameworks into actionable results that resonate in both public and private sectors.
In the realm of consulting firms, ICF International Inc. stands as a paragon of strategic application, seamlessly bridging the gap between knowledge and tangible impact. Founded in 1969 and headquartered in Fairfax, Virginia, ICF began its journey with a focus on energy consulting. Over decades, it has evolved into a comprehensive provider of professional services and technology solutions, impacting sectors such as energy, environment, public health, and public safety. ICF leverages its deep domain expertise and extensive network of professionals to partner with government and commercial clients, working on programs that are designed to improve quality of life and promote sustainable practices. This dynamic organization thrives on addressing multifaceted challenges, from climate change initiatives to cybersecurity, using data analysis and cutting-edge technologies as the backbone of its solutions.
ICF International's business model is built on a foundation of consulting services, where it derives revenue through fixed-price, time-and-material, and performance-based contracts. By embedding itself within the intricacies of its clients' operations, ICF provides tailored solutions that help achieve policy objectives, streamline processes, and deliver valuable outcomes. It employs a host of subject matter experts whose collaborative efforts drive efficiency and innovation across projects. This allows ICF to not only offer advisory services but also to directly implement strategies that ensure comprehensive project delivery. As a result, ICF doesn't just offer guidance; it becomes an integral part of its clients' success stories, converting theoretical frameworks into actionable results that resonate in both public and private sectors.
Revenue Mix Shift: Commercial, state, local, and international client revenues rose 13.8% and now account for 57% of total revenue, up from 46% a year ago, helping offset federal government weakness.
Federal Weakness: Federal government revenues declined 29.8% year-over-year in Q3, but contract cancellations have stabilized.
Commercial Energy Growth: Commercial energy revenues jumped 24% year-over-year and now represent 30% of total Q3 revenue, fueled by utility client demand.
Government Shutdown Impact: The ongoing federal shutdown is expected to reduce Q4 revenue by $25 million and gross profit by $7.5 million if it persists through year-end.
Guidance Maintained: Despite shutdown headwinds, ICF is maintaining its original 2025 guidance framework for revenue and non-GAAP EPS, targeting the lower end of the range.
Leadership Changes: CFO Barry Broadus announced retirement; COO James Morgan will add CFO duties, and Anne Choate will become President in 2026.
Return to Growth: Management expects a return to revenue and earnings growth in 2026, backed by robust pipeline and strong non-federal markets.
