ICF International, Inc. (NASDAQ:ICFI) Q2 2023 Earnings Conference Call August 3, 2023 4:30 PM ET
Company Participants
Lynn Morgen - Advisiry Partners
John Wasson - Chairman, President and Chief Executive Officer
Barry Broadus - Senior Vice President and Chief Financial Officer
Conference Call Participants
Joseph Vafi - Canaccord Genuity
Tobey Sommer - Truist Securities
Kevin Steinke - Barrington Research Associates
Marc Riddick - Sidoti
Operator
Welcome to the Second Quarter 2023 ICF Earnings Conference Call. My name is Tess and I will be your operator for today's call. [Operator Instructions] I will now turn the call over to Lynn Morgen of Advisory Partners. Lynn, you may begin.
Lynn Morgen
Thank you, Tesh. Good afternoon, everyone, and thank you for joining us to review ICF's second quarter 2023 performance. With us today from ICF are John Wasson, Chair and CEO; and Barry Broadus, CFO. Joining them is James Morgan, Chief Operating Officer. During this conference call, we will make forward-looking statements to assist you in understanding ICF management's expectations about our future performance. These statements are subject to a number of risks that could cause actual events and results to differ materially, and I refer you to our August 3, 2023 press release and our SEC filings for discussions of those risks.
In addition, our statements during this call are based on our views as of today. We anticipate that future developments will cause our views to change. Please consider the information presented in that light. We may, at some point, elect to update the forward-looking statements made today, but specifically disclaim any obligation to do so. I will now turn the call over to ICF's CEO, John Wasson, to discuss second quarter 2023 performance. John?
John Wasson
Thank you, Lynn, and thank you all for joining us to review our Q2 results, the transactions we announced this afternoon and our business outlook. As there's a lot to discuss today, I will focus on the highlights of the second quarter and then quickly move on to recent developments and comment on the growth initiatives underway at ICF. There are several key takeaways from our second quarter performance. First, this was an excellent quarter for ICF. Revenues increased 18%, indicative of how well aligned our services and capabilities are with market demand. Second quarter revenue growth was led by strong year-on-year comparisons in our key growth markets and represented 10% organic growth, together with the SemanticBits' acquisition we completed in mid-2022.