Tetra Tech Q1 2022 Earnings Report
Key Takeaways
Tetra Tech reported strong first-quarter results with record revenue, net revenue, earnings, cash flow, and backlog. Revenue totaled $859 million, a 12% increase year-over-year, with GAAP EPS at $1.25 and adjusted EPS at $1.19, up 30% and 24% year-over-year, respectively. The company is increasing its guidance outlook for both net revenue and EPS for fiscal 2022.
Tetra Tech achieved record first quarter results in revenue, net revenue, earnings, cash flow, and backlog.
Revenue totaled $859 million, up 12% year-over-year.
GAAP EPS was $1.25, and adjusted EPS was $1.19, up 30% and 24% year-over-year, respectively.
Backlog at the end of the quarter was $3.45 billion, up 8% year-over-year.
Tetra Tech
Tetra Tech
Forward Guidance
Tetra Tech expects EPS for the second quarter of fiscal 2022 to range from $0.86 to $0.91 and net revenue to range from $620 million to $670 million. For fiscal 2022, Tetra Tech is increasing EPS to now range from $4.15 to $4.30, and net revenue to range from $2.65 billion to $2.80 billion.