ICF International, Inc. (NASDAQ:ICFI) Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET

Company Participants

Lynn Morgen - Investor Relations
John Wasson - Chair and Chief Executive Officer
Barry Broadus - Chief Financial Officer
James Morgan - Chief Operating Officer

Conference Call Participants

Sam Kusswurm - William Blair
Jack Wilson - Truist Securities
Marc Riddick - Sidoti

Operator

Welcome to the First Quarter 2024 ICF Earnings Conference Call. My name is Liz and I will be your operator for today's call. At this time, all participants are in listen-only mode. Afterwards, you will be invited to participate in the question-and-answer session. [Operator instructions]

I will now turn the call over to Lynn Morgen of Advisory Partners. Lynn, you may begin.

Lynn Morgen

Thank you, operator. Good morning, everyone, and thank you for joining us to review ICF's first quarter 2024 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 May 02, 2024 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 CEO, John Wasson to discuss first quarter 2024 performance. John?

John Wasson

Thank you, Lynn and thank you all for joining today's call to discuss our first quarter results and review our business outlook. First quarter results represented an excellent start to 2024 and demonstrated ICF's positioning in key growth areas and the strength of our diversified business model.

There are several takeaways worth highlighting. First, revenue growth for the quarter was quite strong. Excluding divestitures, revenues increased by 8.7% from last year's levels. Second, our margin profile continues to strengthen. Drivers such as revenue mix, high utilization and reduced facility costs, continue to contribute to the consistent margin expansion that we have achieved over the last several years. And third, our forward-looking metrics point to continued growth for ICF.