ICF International Inc. (NASDAQ:ICFI) Q4 2019 Earnings Conference Call - Final Transcript
Feb 27, 2020 • 04:30 pm ET
Good afternoon, and welcome to the Fourth Quarter and Full-Year 2019 ICF Earnings Conference. My name is Brandon, and I'll be your operator for today. [Operator Instructions]
I will now turn the call over to Lynn Morgen of AdvisIRy Partners. And Lynn, you may begin.
Thank you, Brandon. Good afternoon, everyone, and thank you for joining us to review ICF's fourth quarter and full-year 2019 performance. With us today from ICF are Sudhakar Kesavan, Executive Chairman; John Wasson, President and CEO; James Morgan, CFO; and Bettina Welsh, SVP, Finance.
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 February 27, 2020, press release and our SEC filings for discussions of those risks.
In addition, our statements during this call are based on our reviews 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's Executive Chairman, Sudhakar Kesavan, to discuss fourth quarter and full year 2019 performance. Sudhakar?
Thank you, Lynn, and thank you all for joining us today to review our 2019 results and discuss our business outlook for 2020. 2019 was another year of strong performance for ICF, driven by our differentiated service offerings in growth markets. By pairing deep domain expertise in the broad areas of energy, environment, disaster management and health with broad technology and engagement skills and by growing our marketing services business, we delivered another year of double-digit revenue and earnings growth.
At our Investor Day in early December last year, I made several points that are relevant as we look ahead to ICF's opportunities in 2020 and beyond. First, ICF's revenue growth has been resilient across administrations. So although the rhetoric will intensify as the election approaches, keep in mind that we've had steady growth under both Democratic and Republican administrations.
Second, we have successfully leveraged up and down over the last 13-plus years since we have been public as we have made acquisitions and then paid down debt with our strong cash flow, and that is the strategy that remains in place today.
Third and finally, our strategic intent of providing advice to our clients and implementing their advice in our areas of expertise has been the hallmark of our success for more than a decade, and we have significant growth runway ahead. We're expecting 2020 to be another strong year for ICF with double-digit growth in revenue and EBITDA.
Before handing over the call to John, I would like to make a few comments on our recent acquisition of ITG, a leading provider of cloud-based platform services to US federal government agencies. We