ICF International raises 2024 ajdusted EPS view to $7.40-$7.50 from $6.95-$7.25

Consensus for 2024 EPS is $7.08. Lowers 2024 revenue guidance to $2.0B-$2.03B from $2.03B-$2.10B to reflect an estimated $50M reduction in expected pass-throughs. “Our forward-looking metrics support our confidence in continued growth for ICF as we enter 2025. We have a strong multiyear backlog, a record business development pipeline and a consistent track record of new business wins. We are experiencing robust demand from commercial clients for our energy and environment expertise and related implementation and technology capabilities. We have excellent credentials in disaster management, resilience and mitigation work to assist state and local governments with recovery after storms, flooding and wildfires, as well as with their future resilience planning. The large majority of our federal government work is in areas that have bipartisan support, particularly IT modernization, which remains an area of priority spending. And importantly, our people are fully engaged in achieving the objectives and missions of our clients, which underpins our confidence in ICF’s future growth potential,” CEO Wasson concluded.