Tetra Tech (TTEK) Tops Q2 EPS by 8c, Revenues Beat; Offers 3Q & FY32 EPS/Revenue Guidance

Tetra Tech (NASDAQ: TTEK) reported Q2 EPS of $0.83, $0.08 better than the analyst estimate of $0.75. Revenue for the quarter came in at $600 million versus the consensus estimate of $581.72 million.

• Revenue $755 million and Net Revenue $600 million
• Operating Margin up 114 basis points Y/Y
• EPS $0.83, up 26% Y/Y
• Cash from Operations increased to $124 million, up 23% Y/Y

Chairman and CEO Comments

Tetra Tech’s Chairman and CEO, Dan Batrack, commented, “Tetra Tech continued to build on its strong start to fiscal year 2021, generating record second quarter revenue and operating income on higher margins in both our government and commercial businesses. We achieved year-over-year double digit revenue growth for our U.S. state & local and U.S. federal water and environmental services by leveraging our Tetra Tech Delta suite of advanced data analytics and digital water technologies. We continued to invest in these strategic growth areas by adding Coanda Research & Development and IBRA-RMAC, leaders in computational fluid dynamics and digital water transformation. Given our results to date and outlook, we are increasing guidance for both net revenue and EPS for fiscal 2021.”

GUIDANCE:

Tetra Tech sees Q3 2021 EPS of $0.85-$0.90, versus the consensus of $0.87. Tetra Tech sees Q3 2021 revenue of $600-650 million, versus the consensus of $621.22 million.

Tetra Tech sees FY2021 EPS of $3.60-$3.70, versus the consensus of $3.56. Tetra Tech sees FY2021 revenue of $2.45-2.55 billion, versus the consensus of $2.45 billion.

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

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