Filing Flows › ICF International (ICFI) › Q2 2025
ICF International (ICFI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
ICF International (ICFI) reported revenue of $476M for the second quarter 2025 (Q2 2025), -7% from a year earlier and -2% from the quarter before. Operating margin was 8.4%, net earnings $23.7M (5.0% of revenue).
ICF International, Q2 2025: revenue $476M (-7% year over year), operating margin 8.4%, net earnings $23.7M, operating cash flow $52.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $476M | -2% | -7% |
| Operating profit | $40.0M | +4% | -6% |
| Net earnings | $23.7M | -12% | -8% |
| Operating cash flow | $52.0M | — | -14% |
| Free cash flow | $46.2M | — | -17% |
What changed
Revenue was $476.2M in Q2 2025, down 7% year over year and down 2% from the previous quarter. US Federal Government was the largest line at 43% of revenue. US Federal Government lost $68.8M year over year (down 25%), 192% of the total change.
Operating profit was $40.0M, a 8.4% margin (up 0.1 points year over year). Total costs fell 7% while revenue fell 7%. The fastest-growing cost line was Other operating costs (+11%). Net earnings were $23.7M, down 8% year over year. The effective tax rate was 21.0%.
Operating cash flow was $52.0M (down 14% year over year), 220% of net earnings. Non-cash charges added back $14.7M of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items added $9.3M. Capital expenditures of $5.8M left free cash flow of $46.2M.
Questions
What was ICF International's revenue in the second quarter 2025?
ICF International (ICFI) reported revenue of $476M for the second quarter 2025 (Q2 2025), -7% from a year earlier and -2% from the quarter before.
Was ICF International profitable in the second quarter 2025?
Operating profit was $40.0M (8.4% of revenue) and net earnings $23.7M.
Source: ICF International 10-Q on SEC EDGAR.