Tetra Tech (TTEK) Tops Q1 EPS by 7c, Revenues Beat; Offers Q2 & FY20 EPS/Revenue Guidance

Tetra Tech (NASDAQ: TTEK) reported Q1 EPS of $0.84, $0.07 better than the analyst estimate of $0.77. Revenue for the quarter came in at $798 million versus the consensus estimate of $613.88 million.

• Revenue $798 million, up 11% Y/Y
• Net revenue $614 million, up 11% Y/Y
• Record Backlog of $3.17 billion, up 13% Y/Y
• EPS $0.85, up 13% Y/Y; Adjusted EPS $0.84, up 20% Y/Y

Comments on Results

Tetra Tech’s Chairman and CEO, Dan Batrack, commented, “Tetra Tech started fiscal year 2020 with strong double-digit growth for both our revenue and earnings. We continue to see strong demand across our end markets for our Leading with Science® consulting services focused on water, environment, renewable energy, and sustainable infrastructure. New project wins, broadly across our client sectors, drove our backlog to an all-time record of $3.17 billion, which provides great visibility as we enter the second quarter of fiscal 2020.”

GUIDANCE:

Tetra Tech sees Q2 2020 EPS of $0.73-$0.78, versus the consensus of $0.74. Tetra Tech sees Q2 2020 revenue of $580-630 million, versus the consensus of $606.68 million.

Tetra Tech sees FY2020 EPS of $3.40-$3.55, versus the consensus of $3.43. Tetra Tech sees FY2020 revenue of $2.4-2.6 billion, versus the consensus of $2.53 billion.

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

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