
ICF International's Q3 2026 earnings top estimates despite a revenue miss, as stronger margins and contract awards boost profitability and backlog.
ICF International, Inc. provides management, marketing, technology and policy consulting and implementation services to government and commercial clients in the United States and internationally. The company is headquartered in Fairfax, Virginia.
| Revenue (TTM) | $1.83B |
| Gross Profit (TTM) | $681.04M |
| EBITDA | $198.02M |
| Operating Margin | 9.28% |
| Return on Equity | 9.15% |
| Return on Assets | 4.36% |
| Revenue/Share (TTM) | $100.75 |
| Book Value | $60.55 |
| Price-to-Book | 1.63 |
| Price-to-Sales (TTM) | 0.78 |
| EV/Revenue | 1.247 |
| EV/EBITDA | 11.59 |
| Quarterly Earnings Growth (YoY) | 37.50% |
| Quarterly Revenue Growth (YoY) | 1.10% |
| Shares Outstanding | $17.93M |
| Float | $17.63M |
| % Insiders | 1.90% |
| % Institutions | 108.48% |
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ICF International's Q3 2026 earnings top estimates despite a revenue miss, as stronger margins and contract awards boost profitability and backlog.

While the top- and bottom-line numbers for ICF (ICFI) give a sense of how the business performed in the quarter ended September 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

―Third Quarter Marks Return to Year-on-Year Revenue Growth― ―Revenue from Federal Government Clients Increased 3.4% Sequentially― ―Margin Expansion Benefited from Efficient Contract Delivery and Favorable Contract Mix― ―Maintains 2026 Non-GAAP EPS Guidance Midpoint on Lower Revenue― Third Quarter Highlights: Revenue Increased 1% to $470 Million Net Income Was $32 Million; GAAP EPS Was $1.76 Non-GAAP EPS 1 Increased 19% to $1.98 EBITDA 1 Was $53.6 Million; Adjusted EBITDA 1 Was $54.2 Million, or 11.5% of Total Revenues Contract Awards Were $746 Million, 4.5% Ahead of Last Year and Representing a Quarterly Book-to-Bill Ratio of 1.59 and a TTM Book-to-Bill Ratio of 1.11 RESTON, Va., Nov. 5, 2026 /PRNewswire/ -- ICF (NASDAQ: ICFI), a global consulting and technology services provider, reported results for the third quarter ended September 30, 2026.

The Sustainable Value Strategy trailed its benchmark, the Russell 2500 Value Index, in the third quarter. New positions include Lineage, Birkenstock, Matador Resources, KBR and ICON. InterDigital, Stevanato Group and Exelixis rounded out our top contributors.

ICF International remains a buy, with a 14% upside to my new $99 per share price target, driven by electrification and data center consulting tailwinds. Q2 FY 2026 results showed revenue stabilization at $474.5M, with strong commercial (+13.6%), state/local (+9.1%), and international (+24.2%) growth offsetting federal softness. Book-to-bill remains healthy at 1.09x TTM, backlog stands at $3.3B (~1.7x FY 2026 revenue), and leverage is falling toward 1.6x, supporting capital returns and bolt-on M&A.

ICF (ICFI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Public Sector Programs Will Help Lower Energy Costs and Strengthen Grid Reliability Across Southern California RESTON, Va., Sept. 28, 2026 /PRNewswire/ -- ICF (NASDAQ: ICFI), a leading global solutions and technology provider, was recently awarded two new, multiyear work orders under the County of Los Angeles Energy Support Services Master Agreement to serve as one of three implementers supporting the Southern California Regional Energy Network's (SoCalREN) public sector energy efficiency programs.

Date: Thursday, November 5, 2026 Time: 4:30 p.m. Eastern Time Audio-only Webcast : https://edge.media-server.com/mmc/p/273vq66x Participant Registration: https://register-conf.media-server.com/register/BI8f18d40afff846bb9db190b4233f0da3 RESTON, Va.

ICF International's non-federal growth, stronger cash flow and lower debt are offsetting federal weakness and elevated direct costs as procurement remains slow.

Partnership Will Help Clients Scale Mission-Ready AI RESTON, Va., Sept. 9, 2026 /PRNewswire/ -- ICF (NASDAQ: ICFI), a leading global solutions and technology provider, today announced it has been named an OpenAI Select Partner, recognizing its proven ability to help organizations responsibly adopt and scale advanced AI services and solutions.
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