Tetra Tech (TTEK) Misses Q3 EPS by 2c, Beats on Revenues; Offers FY17 EPS/Revenue Outlook Below Consensus

Tetra Tech (NASDAQ: TTEK) reported Q3 EPS of $0.52, $0.02 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $685 million versus the consensus estimate of $535.18 million.

Business Outlook

The following statements are based on current expectations. These statements are forward-looking and the actual results could differ materially. These statements do not include the potential impact of transactions that may be completed or developments that become evident after the date of this release. The Business Outlook section should be read in conjunction with the information on forward-looking statements at the end of this release.

Tetra Tech expects ongoing diluted EPS for the fourth quarter of fiscal 2017 to range from $0.60 to $0.62. Net revenue for the fourth quarter is expected to range from $500 million to $520 million. For fiscal 2017, ongoing diluted EPS is expected to range from $2.10 to $2.12 and net revenue is expected to range from $2.00 billion to $2.02 billion.

GUIDANCE:

Tetra Tech sees FY2017 EPS of $2.10-$2.12, versus the consensus of $2.22. Tetra Tech sees FY2017 revenue of $2-2.02 billion, versus the consensus of $2.1 billion.

• Record Q3 EPS of $0.52, up 18% Y/Y
• Record Q3 operating income of $46 million, up 17% Y/Y
• Record backlog of $2.53 billion, up 12% Y/Y

For earnings history and earnings-related data on Tetra Tech (TTEK) click here.

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