Strong Commercial Energy Growth
Commercial energy revenues increased by 26% in 2024, driven by new wins and contract expansions, and the acquisition of Applied Energy Group.
Improvement in EBITDA Margins
Adjusted EBITDA margin expanded by 30 basis points to 11.2% in 2024, contributing to a 15% increase in non-GAAP EPS to $7.45.
Successful Share Buyback Program
ICF repurchased 395,000 shares in the open market, reflecting confidence in the company's long-term outlook.
Significant International Government Contracts
ICF was awarded contracts worth over $210 million by the European Commission and the UK government to expand research and innovation.
Robust Cash Flow and Debt Reduction
Operating cash flow exceeded expectations at $171.5 million, and debt was reduced to $411.7 million by year-end.