Looking back on government & technical consulting stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including Maximus (NYSE: MMS) and its peers.
The sector has historically benefitted from steady government spending on defense, infrastructure, and regulatory compliance, providing firms long-term contract stability. However, the Trump administration is showing more willingness than previous administrations to upend government spending and bloat. Whether or not defense budgets get cut, the rising demand for cybersecurity, AI-driven defense solutions, and sustainability consulting should benefit the sector for years, as agencies and enterprises seek expertise in navigating complex technology and regulations. Additionally, industrial automation and digital engineering are driving efficiency gains in infrastructure and technical consulting projects, which could help profit margins.
The 7 government & technical consulting stocks we track reported a mixed Q2. As a group, revenues were in line with analysts’ consensus estimates.
In light of this news, share prices of the companies have held steady as they are up 2% on average since the latest earnings results.
Maximus (NYSE: MMS)
With nearly 50 years of experience translating public policy into operational programs that serve millions of citizens, Maximus (NYSE: MMS) provides operational services, clinical assessments, and technology solutions to government agencies in the U.S. and internationally.
Maximus reported revenues of $1.28 billion, down 5.1% year on year. This print fell short of analysts’ expectations by 3.7%. Overall, it was a softer quarter for the company with a significant miss of analysts’ full-year EPS guidance estimates and full-year revenue guidance meeting analysts’ expectations.
Maximus delivered the weakest performance against analyst estimates, slowest revenue growth, and weakest full-year guidance update in the group. The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $63.41.
Read our full report on Maximus here, it’s free.
Best Q2: SAIC (NASDAQ: SAIC)
With over five decades of experience supporting national security missions, Science Applications International Corporation (NASDAQ: SAIC) provides technical, engineering, and enterprise IT services primarily to U.S. government agencies and military branches.
SAIC reported revenues of $1.88 billion, up 6.3% year on year, outperforming analysts’ expectations by 7.1%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.
SAIC achieved the biggest analyst estimate beat of the whole group. The market seems happy with the results as the stock is up 14% since reporting. It currently trades at $143.56.
Is now the time to buy SAIC? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: Amentum (NYSE: AMTM)
With operations spanning approximately 80 countries and a workforce of specialized engineers and technical experts, Amentum Holdings (NYSE: AMTM) provides advanced engineering and technology solutions to U.S. government agencies, allied governments, and commercial enterprises across defense, energy, and space sectors.
Amentum reported revenues of $3.49 billion, down 2% year on year, falling short of analysts’ expectations by 2.2%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates.
As expected, the stock is down 13.3% since the results and currently trades at $21.19.
Read our full analysis of Amentum’s results here.
Booz Allen Hamilton (NYSE: BAH)
With roots dating back to 1914 and deep ties to nearly all U.S. cabinet-level departments, Booz Allen Hamilton (NYSE: BAH) provides management consulting, technology services, and cybersecurity solutions primarily to U.S. government agencies and military branches.
Booz Allen Hamilton reported revenues of $2.8 billion, down 4.2% year on year. This result came in 0.5% below analysts’ expectations. Aside from that, it was a very strong quarter as it put up a beat of analysts’ EPS estimates.
The stock is up 20.4% since reporting and currently trades at $79.34.
Read our full, actionable report on Booz Allen Hamilton here, it’s free.
ICF International (NASDAQ: ICFI)
Operating at the intersection of policy, technology, and implementation for over five decades, ICF International (NASDAQ: ICFI) provides professional consulting services and technology solutions to government agencies and commercial clients across energy, health, environment, and security sectors.
ICF International reported revenues of $474.5 million, flat year on year. This print lagged analysts’ expectations by 0.7%. More broadly, it was actually a strong quarter as it recorded a beat of analysts’ EPS estimates and a narrow beat of analysts’ full-year EPS guidance estimates.
ICF International delivered the highest full-year guidance raise among its peers. The stock is up 9.3% since reporting and currently trades at $93.26.
Read our full, actionable report on ICF International here, it’s free.
Market update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
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