ICF reported its first quarter ended March 31, 2025, results on May 1, 2025. Total revenue was $487.6 million, a 1.4% decrease from $494.4 million in Q1 2024. Non-GAAP diluted EPS increased 9.6% to $1.94 per share, while GAAP diluted EPS was $1.44.
Revenues from commercial, state and local, and international government clients collectively increased 12.6%, accounting for 51% of first-quarter revenues. Commercial energy clients were a key driver, with revenues up 21% year-over-year, representing 87% of commercial revenues. Federal government revenue, however, declined 12.6%.
ICF maintained its original guidance framework for 2025, projecting total revenues, GAAP EPS, and non-GAAP EPS to range from flat to down 10% from 2024 levels. The company expects commercial energy, state and local, and international government clients to grow at least 15% in aggregate for the year, offsetting federal headwinds.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.