ICF International Inc's stock plummeted 5.48% during intraday trading on Friday, as investors reacted to the company's first-quarter 2026 earnings results.

The consulting and technology services provider reported revenue of $437.5 million for Q1 2026, representing a 10.3% decline year over year. Management attributed this decrease to a $12 million timing shift related to fixed-price commercial energy work and international government pass-throughs. Despite the quarterly revenue drop, the company maintained its full-year revenue outlook of $1.89 billion to $1.96 billion, expecting the shifted work to recover throughout 2026.

Other financial metrics from the earnings call included adjusted EBITDA of $48.9 million with an 11.2% margin and non-GAAP EPS of $1.5. The company reiterated its full-year guidance for both GAAP and non-GAAP earnings per share, while also indicating a more aggressive posture toward mergers and acquisitions, particularly in the commercial energy sector.