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Jun 30, 2020
ICF Q2 2020 Earnings Report
ICF's second quarter 2020 results reflected the resilience of its diversified business model, with service revenue increasing and federal government revenue rising significantly.
Key Takeaways
ICF reported a total revenue of $354 million for Q2 2020, a decrease of 3.5% compared to Q2 2019. However, service revenue increased by 3.5%, driven by growth in federal government and commercial energy sectors. Diluted EPS was $0.72, and Non-GAAP EPS was $0.89. The company reaffirmed its full-year 2020 guidance.
Total revenue was $354 million, down 3.5% year-over-year.
Service revenue increased 3.5%, driven by federal government and commercial energy clients.
Diluted EPS was $0.72, while non-GAAP EPS was $0.89.
EBITDA increased 3.7%, and adjusted EBITDA remained stable year-over-year.
Revenue by Geographic Location
Forward Guidance
ICF reaffirmed its full year 2020 guidance for revenue of $1.450 to $1.510 billion and EBITDA of $126.0 million to $136.0 million. GAAP earnings per diluted share are expected to range from $2.85 to $3.15, exclusive of special charges. Non-GAAP diluted EPS is expected to range from $3.50 to $3.80. The company also reaffirmed its guidance for operating cash flow of approximately $110 million.
Positive Outlook
- Reaffirmed full year 2020 revenue guidance of $1.450 to $1.510 billion.
- EBITDA guidance of $126.0 million to $136.0 million reaffirmed.
- GAAP earnings per diluted share expected to range from $2.85 to $3.15.
- Non-GAAP diluted EPS expected to range from $3.50 to $3.80.
- Operating cash flow guidance reaffirmed at approximately $110 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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