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Dec 31, 2022
ICF Q4 2022 Earnings Report
ICF's fourth quarter results capped off a record year, demonstrating double-digit growth across key financial metrics and record contract awards.
Key Takeaways
ICF reported a strong fourth quarter with a 22.6% increase in total revenue to $475.6 million. Net income was $8.9 million, and non-GAAP EPS increased by 31% to $1.56. The company's contract awards were $777 million, resulting in a book-to-bill ratio of 1.63.
Total revenue was $476 million; service revenue was $339 million, up 24%.
Net income was $8.9 million and diluted EPS was $0.47, inclusive of $13.6 million and $0.72 in tax-effected facility-related, severance and M&A charges.
Non-GAAP EPS was $1.56, up 31%.
Contract awards were $777 million for a book-to-bill ratio of 1.63.
Revenue by Geographic Location
Forward Guidance
ICF expects full year 2023 Service Revenue to be in the range of $1.405 billion and $1.465 billion, representing year-on-year growth of 11.6% at the midpoint. GAAP EPS is projected at $4.75 to $5.05, exclusive of special charges, and non-GAAP EPS is expected to range from $6.15 to $6.45, representing increases of 45% and 9.2%, respectively over 2022 at the midpoints.
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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