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Dec 31, 2020
ICF Q4 2020 Earnings Report
ICF's Q4 2020 results were reported, demonstrating revenue growth and strategic positioning in key markets.
Key Takeaways
ICF reported a strong finish to 2020 with total revenue exceeding guidance and a 4.1% increase in service revenue. The company's positioning in high-growth markets, particularly in federal government and commercial energy sectors, drove revenue increases. Record contract awards of $525 million were achieved in Q4.
Total revenue was $434 million, representing a 9.5% growth year-over-year.
Service revenue increased by 4.1% to $262 million.
Diluted EPS was $0.67, inclusive of one-time charges.
Non-GAAP EPS was $1.36, up from $1.18 in the previous year.
Revenue by Geographic Location
Forward Guidance
ICF expects considerable organic growth in service revenue for full year 2021, projecting service revenue to range from $1.095 billion to $1.13 billion. Pass-through revenues are anticipated at approximately 28% of total revenue in 2021, implying total revenue of between $1.525 billion and $1.575 billion. GAAP EPS is projected to be $3.90 to $4.20 and Non-GAAP EPS is expected to range from $4.35 to $4.65.
Positive Outlook
- Record contract awards
- Higher backlog
- Business development pipeline in excess of $6.3 billion
- Expertise aligns well with current administration’s priorities in climate, environment and infrastructure
- Savings from the optimization of real estate footprint and reduced travel and entertainment expense
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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