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Mar 31, 2021
ICF Q1 2021 Earnings Report
ICF's Q1 2021 results were reported, demonstrating growth in key financial metrics.
Key Takeaways
ICF reported strong Q1 2021 results with a 5.6% increase in total revenue to $378.5 million and a 9.5% increase in service revenue. Diluted EPS was $0.96, and non-GAAP EPS was $1.13, a 36% increase. The company also reported record contract awards of $596.1 million, up 67% year-over-year.
Total revenue increased by 5.6% to $378.5 million.
Service revenue grew by 9.5% to $279.6 million.
Diluted EPS was $0.96, compared to $0.55 in the previous year.
Record contract awards reached $596.1 million, a 67% increase.
Revenue by Geographic Location
Forward Guidance
ICF expects full year 2021 service revenue, EBITDA and EPS to be at the upper end of the guidance ranges, with service revenue of $1.095 billion to $1.13 billion, EBITDA of $145 million to $155 million, GAAP EPS of $3.90 to $4.20, and Non-GAAP EPS of $4.35 to $4.65. The company continues to anticipate total revenue in 2021 of $1.525 billion to $1.575 billion, and reaffirms its expectation that operating cash flow will be approximately $100 million.
Positive Outlook
- Full year 2021 service revenue expected to be at the upper end of guidance.
- EBITDA expected to be at the upper end of guidance.
- EPS expected to be at the upper end of guidance.
- Total revenue in 2021 is anticipated to be $1.525 billion to $1.575 billion.
- Operating cash flow is expected to be approximately $100 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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