ICF International, Inc. ICFI reported mixed third-quarter 2020 numbers, with earnings beating estimates and revenue missing the same.The stock gained 3.7% since the earnings release on Nov 5, as the company‘s earnings guidance for 2020 was impressive. ICF raised non-GAAP diluted earnings per share (EPS) guidance to $3.90-$4.05 from $3.50-$3.80 projected earlier. The midpoint ($3.97) of the guidance is above the Zacks Consensus Estimate of $3.87.In the past year, ICF’s shares have depreciated 16.9% against 8.2% growth of the industry it belongs to.Non-GAAP EPS (excluding 16 cents from non-recurring items) of $1.10 per share surpassed the Zacks Consensus Estimate by 27.9% but declined 1.8% on a year-over-year basis. Revenues of $360.3 million missed the consensus mark marginally and declined 3.6% year over year mainly due to lower pass-through revenues.Revenues in DetailRevenues from government clients came in at $247 million, flat year over year. The U.S. federal government revenues of $175.1 million increased 18% year over year and contributed 49% to total revenues. The U.S. state and local government revenues of $51.6 million declined 27.8% year over year and contributed 14% of total revenues. International government revenues of $20.3 million were down 27.5% year over year, contributing 6% of total revenues.Commercial revenues totaled $113.3 million, down 10.2% from the year-ago quarter’s figure and contributed 31% of total revenues. Energy markets and marketing services contributed 53% and 37%, respectively, to commercial revenues.ICF International, Inc. Price, Consensus and EPS Surprise ICF International, Inc. price-consensus-eps-surprise-chart | ICF International, Inc. Quote Backlog and Value of ContractsTotal backlog and funded backlog amounted to $2.9 billion and $1.5 billion at the end of the third quarter, respectively. The total value of contracts awarded in the quarter came in at $792 million.Operational ResultsAdjusted EBITDA of $37.8 million, increased 4.9% from the year-ago quarter’s figure. Adjusted EBITDA margin on revenue of 10.5% increased 90 basis points (bps) year over year. Adjusted EBITDA margin on service revenues was 14.3%, up 30 bps year over year.Balance SheetICF exited the third quarter with cash and cash equivalent balance of $8.2 million compared with the $9.1 million recorded at the end of the previous quarter. The company had a long-term debt of $362.3 million compared with $441 million at the end of the prior quarter.The company generated $84.4 million of cash from operating activities, and capex was $3.9 million. ICF paid out dividends of $2.6 million in the reported quarter.Revised 2020 GuidanceManagement revised its guidance for 2020. Revenues are projected in the range of $1.46-$1.50 billion (previous guidance: $1.45-$1.51 billion). The midpoint ($1.48 billion) of the revised guided range is greater than the current Zacks Consensus Estimate of $1.47 billion.Operating cash flow is anticipated to be around $120 million (previous guidance: $110 million).ICF currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performance of Other Business Services CompaniesEquifax EFX reported better-than-expected third-quarter 2020 results, with adjusted earnings of $1.87 per share beating the Zacks Consensus Estimate by 16.2% and rising 26.4% on a year-over-year basis. The reported figure exceeded the company’s guidance of $1.30-$1.40.The Interpublic Group of Companies IPG reported better-than-expected third-quarter 2020 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate by 43.2% and rose 8.2% on a year-over-year basis.IQVIA Holdings IQV reported solid third-quarter 2020 adjusted earnings per share of $1.63, which beat the consensus mark by 8% and inched up 1.9% on a year-over-year basis. The reported figure was above the company’s guidance of $1.47-$1.55.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot stocks we're targeting >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Equifax, Inc. (EFX): Free Stock Analysis Report Interpublic Group of Companies, Inc. The (IPG): Free Stock Analysis Report ICF International, Inc. (ICFI): Free Stock Analysis Report IQVIA Holdings Inc. (IQV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research