ICF International (ICFI) Beats On Q3 Earnings And Revenues
Zacks Investment Research | Nov 08, 2019 06:43AM ET
ICF International, Inc. (NASDAQ:ICFI) reported solid third-quarter 2019 results, with earnings and revenues beating the Zacks Consensus Estimate.
Non-GAAP EPS of $1.12 beat the consensus mark by 3.7% and improved 10.8% on a year-over-year basis driven by strong operating performance. Revenues of $373.9 million outpaced the consensus mark by 0.6% and increased 12.3% year over year.
So far this year, shares of the company have gained 38% compared with 41.4% rally of the industry it belongs to.
Revenues in Detail
Revenues from government clients came in at $247.7 million and improved 11.4% year over year. U.S. federal government revenues of $148.2 million increased 5.6% year over year and contributed 40% to total revenues. U.S. state and local government revenues of $71.5 million rose 28.8% year over year and contributed 19% to total revenues. International government revenues of $28 million, up 5.5% year over year, contributed 7% to total revenues.
Commercial revenues totaled $126.2 million, up 14.1% from the year-ago quarter’s figure and contributed 34% to total revenues. Energy markets contributed 47% to commercial revenues and Marketing services contributed 45% to the same.
ICF International, Inc. Revenue (TTM)
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ICF International, Inc. Quote
Backlog and Value of Contracts
Total backlog and funded backlog amounted to $2.5 billion and $1.3 billion at the end of the quarter, respectively. The total value of contracts awarded was $477.2 million, representing a third quarter book-to-bill ratio of 1.3, and a trailing 12-month (TTM) book-to-bill ratio of 1.0.
ICF International, Inc. Price, Consensus and EPS Surprise
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