Professional consulting firm ICF International (NASDAQ: ICFI) will be reporting results tomorrow afternoon. Here’s what investors should know.

ICF International missed analysts’ revenue expectations last quarter, reporting revenues of $465.4 million, down 10% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EPS estimates.

Is ICF International a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting ICF International’s revenue to decline 11.5% year on year, a reversal from the 3.8% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ICF International has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at ICF International’s peers in the government & technical consulting segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Jacobs Solutions delivered year-on-year revenue growth of 8.2%, beating analysts’ expectations by 1.7%, and UL Solutions reported revenues up 6.8%, topping estimates by 0.9%. Jacobs Solutions traded up 7.8% following the results while UL Solutions was also up 12.5%.

Read our full analysis of Jacobs Solutions’s results here and UL Solutions’s results here.

The outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. While some of the government & technical consulting stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 8.6% on average over the last month. ICF International is down 21.3% during the same time and is heading into earnings with an average analyst price target of $108.75 (compared to the current share price of $73.85).

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