Start Time: 16:30 January 1, 0000 5:25 PM ET

ICF International, Inc. (NASDAQ:ICFI)
Q2 2024 Earnings Conference Call
August 01, 2024, 16:30 PM ET

Company Participants

John Wasson - Chair and CEO
Barry Broadus - CFO
James Morgan - COO
David Gold - Advisory Partners

Conference Call Participants

Joseph Vafi - Canaccord Genuity
Tim Mulrooney - William and Blair
Kevin Steinke - Barrington Research Associates
Marc Riddick - Sidoti
Tobey Sommer - Truist Securities

Operator

Welcome to the Second Quarter 2024 ICF Earnings Conference Call. My name is Steven, 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 David Gold of Advisory Partners. David, you may begin.

David Gold

Thank you, Steven. Good afternoon everyone and thank you for joining us to review ICF's second quarter 2024 performance. With us today from ICF are John Wasson, Chair and CEO; 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 1, 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'll now turn the call over to ICF's CEO, John Wasson, to discuss second quarter 2024 performance. John?

John Wasson

Thank you, David, and thank you all for participating in today's call to review our second quarter results and discuss our business outlook. As you've seen from our release, this was another excellent quarter for ICF in which we executed well on existing contracts and continue to lay the foundation for future growth.

With respect to key takeaways from the quarter, first, our Energy, Environment, Infrastructure and Disaster Recovery client market continue to be a standout performer, reflecting an array of very strong secular growth trends in these areas. Second, our profitability metrics increased considerably again this quarter, leading us to increase our EPS and EBITDA guidance for the full year. Third, this was an outstanding quarter for new contract wins, bringing our trailing 12-month book-to-bill ratio to 1.4. And lastly, our new business development pipeline increased sequentially by 8.3% to a record 10.5 billion even after record Q2 sales, providing us with substantial growth opportunities across our government and commercial client sets.