The following is a summary of the ICF International, Inc. (ICFI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• ICFI recorded Q1 2024 revenue of $494.4 million, representing a 2.3% rise compared to Q1 2023.

• Revenues increased by 8.7%, excluding divestitures.

• Gross margins expanded by 190 basis points to constitute 37.2% of total revenue.

• EBITDA rose to $56.4 million, marking a 21.6% year-over-year increase.

• Net income stood at $27.3 million, or $1.44 per diluted share, as compared to $16.4 million or $0.87 in the comparable period last year.

Business Progress:

• ICF ended the quarter with a $3.6 billion backlog, a book-to-bill ratio of 1.23, and a business development pipeline of $9.7 billion.

• Recognized growth in the energy, environment, infrastructure, and disaster recovery market with service revenue increasing 20% YoY.

• ICF has successfully clinched contracts valued at about $125 million related to the IJA and IRA, growing mainly from federal and state government clients.

• Revenues from federal government clients marked a 2.4% uprise.

• The company is focused on investments in organic growth, acquisitions, debt reduction, share repurchases, and dividends, and has announced a quarterly cash dividend of $0.14 per share.

• ICF continues to seize growth opportunities in the commercial energy business, announcing a Q1 growth of 34%, and exploring potential mergers and acquisitions in key growth areas like public health, data analytics, and energy.

More details: ICF International IR

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