Tetra Tech (TTEK) Tops Q2 EPS by 7c, Revenues Beat; Raises FY19 EPS Guidance, Affirms FY19 Revenue Guidance, Provides 2Q Outlook

Tetra Tech (NASDAQ: TTEK) reported Q2 EPS of $0.70, $0.07 better than the analyst estimate of $0.63. Revenue for the quarter came in at $585 million versus the consensus estimate of $552.56 million.

• Record net revenue of $585 million, up 10% Y/Y
• Record backlog of $2.81 billion, up 12% Y/Y
• EPS $1.00; adjusted EPS $0.70, up 30% Y/Y
• Increased quarterly dividend by 25% to $0.15

Comments on Results

Tetra Tech’s Chairman and CEO, Dan Batrack, commented, “Tetra Tech had another strong quarter, exceeding the high end of our guidance range for both net revenue and earnings. Our double-digit organic growth for the quarter was driven by continued strong demand across our end-markets for our consulting and engineering services focused on water, renewable energy, and sustainable infrastructure. The addition of eGlobalTech further advances our growth strategy and the integration of emerging technology into our high-end consulting services for our clients. Given the strength of our results and record backlog of more than $2.8 billion, we are increasing our guidance for both EPS and net revenue for fiscal 2019.”

GUIDANCE:

Tetra Tech sees Q3 2019 EPS of $0.75-$0.80, versus the consensus of $0.80. Tetra Tech sees Q3 2019 revenue of $575-625 million, versus the consensus of $596.24 million.

Tetra Tech sees FY2019 EPS of $2.95-$3.05, versus the consensus of $2.95. Tetra Tech sees FY2019 revenue of $2.3-2.4 million, versus the consensus of $2.3 million.

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

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