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Icf International, Inc. (ICFI) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

ICFI Quarterly Reports

Icf International, Inc.

CIK: 1362004 Ticker: ICFI

 

Exhibit 99.1

 

NEWS RELEASE

ICF Reports First Quarter 2020 Results

 

First Quarter Highlights:

 

Total Revenue Was $358 Million, Up 5%

 

Diluted EPS Was $0.55 Inclusive of $0.16 in Special Charges

 

Non-GAAP EPS¹ Was $0.83

 

Adjusted EBITDA Margin on Service Revenue¹ Was 10.9%

 

Contract Awards of $357 Million, Up 23%; TTM Contract Awards Were $1.6 Billion For a Book-to-Bill Ratio of 1.06

 

Completed Acquisition of Incentive Technology Group, LLC (ITG), a Leading Provider of Cloud-based IT Modernization Services to the U.S. Federal Government

 

Guides to Revenue and EBITDA¹ Similar to 2019 and Higher Operating Cash Flow of Approximately $110 Million

 

FOR IMMEDIATE RELEASE

Investor Contacts: http://investors.globant.com/alerts

Lynn Morgen, ADVISIRY PARTNERS, lynn.morgen@advisiry.com +1.212.750.5800

David Gold, ADVISIRY PARTNERS, david.gold@advisiry.com +1.212.750.5800

Company Information Contact:

Lauren Dyke, ICF, lauren.dyke@ICF.com +1.571.373.5577

 

FAIRFAX, Va.— May 5, 2020 -- ICF (NASDAQ:ICFI), a global consulting and digital services provider, reported results for the first quarter ended March 31, 2020.

 

“First quarter results and awards were aligned with ICF’s strong positioning in key growth areas within our government and commercial markets,” said John Wasson, president and chief executive officer. “Mid-single digit revenue growth was led by increases of 6.5% and 5.7%, respectively, in revenues from government and commercial energy clients, which together represented 83% of total first quarter revenues. This positive performance more than offset the lower-than-expected revenue performance of our commercial marketing services group, which is more sensitive to changes in economic conditions.

 

“At the onset of the COVID-19 pandemic, ICF activated business continuity plans and implemented work-from-home protocols for over 98% of our workforce. Our staff is accustomed to teleworking, and our clients

1 Non-GAAP EPS, Service Revenue, EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin on Service Revenue are non-GAAP measurements. A reconciliation of all non-GAAP measurements to the most applicable GAAP number is set forth below.  Special charges are items that were included within our statement of comprehensive income but are not indicative of ongoing performance and have been presented net of applicable U.S. GAAP taxes. The presentation of non-GAAP measurements may not be comparable to other similarly titled measures used by other companies.

1


The following information was filed by Icf International, Inc. (ICFI) on Tuesday, May 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Assess how Icf International, Inc.'s management team is paid from their Annual Proxy

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Icf International, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Inside Icf International, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Accounting For Stock Compensation
Accounting For Stock Compensation - Additional Information (Details)
Basis Of Presentation And Nature Of Operations
Basis Of Presentation And Nature Of Operations (Policies)
Basis Of Presentation And Nature Of Operations - Additional Information (Details)
Business Combination
Business Combinations - Additional Information (Details)
Contingencies
Contingencies - Additional Information (Details)
Contract Receivables, Net
Contract Receivables, Net (Tables)
Contract Receivables, Net - Summary Of Contract Receivables, Net (Details)
Derivative Instruments And Hedges Activities
Derivative Instruments And Hedges Activities (Tables)
Derivative Instruments And Hedging Activities - Additional Information (Details)
Derivative Instruments And Hedging Activities - Summary Of Interest Rate Swaps Derivatives Designated As Cash Flow Hedges (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Schedule Of Dilutive Effect Of Stock Options Rsus And Psas (Details)
Fair Value
Fair Value (Tables)
Fair Value - Schedule Of Financial Instruments Measured At Fair Value On Recurring Basis (Details)
Goodwill
Goodwill (Tables)
Goodwill - Schedule Of Changes In Carrying Amount Of Goodwill (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Summary Of Future Minimum Lease Payments Under Non-Cancellable Leases (Details)
Leases - Summary Of Operating Leases (Details)
Leases - Summary Of Other Information Related To Operating Leases (Details)
Leases - Summary Of Rent Expense (Details)
Long Term Debt - Schedule Of Future Repayment Of Principal Debt (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Details)
Long-Term Debt - Schedule Of Long Term Debt (Details)
Other Comprehensive (Loss) Income And Accumulated Other Comprehensive Loss
Other Comprehensive (Loss) Income And Accumulated Other Comprehensive Loss (Tables)
Other Comprehensive (Loss) Income And Accumulated Other Comprehensive Loss - Components Of Accumulated Other Comprehensive Loss (Details)
Other Comprehensive (Loss) Income And Accumulated Other Comprehensive Loss - Components Of Accumulated Other Comprehensive Loss (Parenthetical) (Details)
Restricted Cash
Restricted Cash (Tables)
Restricted Cash - Reconciliation Of Cash And Cash Equivalents, And Restricted Cash To The Total Of Cash, Cash Equivalents, And Restricted Cash (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Detail)
Revenue Recognition - Additional Information (Detail1)
Revenue Recognition - Disaggregation Of Revenue (Detail)
Revenue Recognition - Schedule Of Changes In Contract Balances Due To Adoption Of New Accounting Standards (Detail)
Share Repurchase Program
Share Repurchase Program - Additional Information (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Schedule Of Changes In Stockholders' Equity (Details)
Subsequent Events
Subsequent Events - Additional Information (Details)

Material Contracts, Statements, Certifications & more

Icf International, Inc. provided additional information to their SEC Filing as exhibits

Ticker: ICFI
CIK: 1362004
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-021498
Submitted to the SEC: Wed May 06 2020 6:02:16 AM EST
Accepted by the SEC: Wed May 06 2020
Period: Tuesday, March 31, 2020
Industry: Management Consulting Services

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