ICF International Reports Q3 2026 Revenue Growth and EPS Expansion
ICF International (ICFI) reported third-quarter fiscal 2026 results characterized by a return to year-over-year revenue growth, reaching $470.5 million. The company saw significant earnings strength with Non-GAAP EPS rising 19% to $1.98, driven by margin expansion, strategic tax planning that lowered the effective tax rate to 15%, and reduced interest expenses. While federal government revenue experienced a slight year-over-year decline due to contract cancellations, growth in state, local, and international sectors provided a buffer. International revenue rose 12% as European and UK framework contracts scaled. However, the company noted a $15 million shortfall in utility program revenue caused by political and regulatory shifts regarding utility bill affordability, which slowed incremental spending. Despite these headwinds in the commercial energy sector, ICF maintains a strong financial position with a $3.5 billion backlog and an $8.2 billion business development pipeline. The company reaffirmed its full-year Non-GAAP EPS guidance at a midpoint of $7.10.
Tickers: $ICFI
Topics: backlog contract awards eps beat government contracts revenue growth