ICF International reports Q1 non-GAAP EPS $1.50, consensus $1.55

Reports Q1 revenue $438M, consensus $448.63M. CEO John Wasson said, “We continue to execute effectively across our diversified client set, and we are pleased to report that revenues from federal government clients increased considerably on a sequential basis, in line with our expectations…Our total quarterly revenue performance was $12M, lower than expected due to the timing of approximately $8M in project work for commercial energy clients and $4M in work for international government clients. We expect to recover those revenues-half in the second quarter and the remainder during the second half of this year-which supports our full year 2026 guidance for 3% companywide revenue growth at the midpoint. Gross margin advanced 10 basis points year-on-year, and adjusted EBITDA margin was 11.2%, remaining steady with 2025 levels…We continued to invest organically in key long-term growth areas, including commercial energy, disaster management and technology modernization, while maintaining our capabilities in federal health, education and social programs. This was a solid quarter of contract awards for ICF. We were awarded $450 million in contracts, representing a quarterly book-to-bill ratio of 1.03 and a trailing twelve-month book-to-bill ratio of 1.21…Our business development pipeline stood at $8.5B at the end of Q1, and we are encouraged by the pace of bid and proposal activity.”