ICF International Misses Q1 Earnings and Revenue Estimates Amid Elevated Costs

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Summary · why it matters

ICF International reported first-quarter 2026 adjusted earnings of $1.50 per share, missing the Zacks Consensus Estimate of $1.55 by 3.2% and declining 22.7% year over year. Revenues of $437.5 million decreased 10.3% from the prior-year quarter and fell short of the consensus mark of $449.8 million by 2.7%. The company’s current ratio improved 10% from the year-ago quarter to 1.48, indicating sufficient liquidity, though it remains below the industry average of 1.91. Direct costs as a percentage of revenue stood at 61.9% in the first quarter, down from 64.3% in the fourth quarter of 2025 but still reflecting an elevated cost structure that pressures cash flow. ICF International continues to rely on long-term government and commercial client relationships and strategic acquisitions such as Applied Energy Group and CMY Solutions to drive growth.

Impact on assets 3

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ICF International Inc
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ICF International missed Q1 earnings and revenue estimates, with adjusted EPS down 22.7% YoY and revenues down 10.3%.

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