ICF International (ICFI) Canaccord Genuity 44th Annual Growth Conference & Private Company Showcase summary

Business performance and growth

• Achieved strong Q2 results, with commercial energy business growing over 25% for two consecutive quarters and a $0.35 annual guidance increase, representing a 5% rise.

• Recorded $840 million in Q2 sales, an 83% year-over-year increase, and a record $10.5 billion pipeline, with a trailing twelve-month book-to-bill ratio of 1.4.

• Diverse revenue streams: 45% from energy, environment, infrastructure, and disaster recovery; 40-45% from public health and social programs.

• Client mix includes U.S. federal government (50%), commercial (25%), and state, local, and international clients.

• Margin momentum driven by high-margin segments, with 140 basis points improvement in adjusted EBITDA to revenue over four years.

Energy, environment, and infrastructure

• Utilities face unprecedented demand, decarbonization, resilience, and energy justice challenges, driving demand for expanded solutions.

• Service offerings now include distributed energy resource management, flexible load management, and electrification programs.

• Added engineering capabilities and marketing services, supporting over 75 utilities nationwide.

• State and local agencies are now running energy programs due to new funding, expanding the addressable market.

• Won $140 million in IIJA and IRA-related work, with $250 million in the pipeline, and strategically expanded in Texas to capture infrastructure funding.

IT modernization

• IT modernization is a major growth driver, with the federal government in early stages of updating legacy systems.

• Built a $500 million IT modernization business through acquisitions, now competing with top industry players.

• Offers full-service capabilities, including low-code/no-code and open-source platforms, with deep domain expertise in civilian agencies.

• Federal IT modernization budgets are growing high single to low double digits, expected to continue for 5-10 years.