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Jun 30, 2024
Tetra Tech Q3 2024 Earnings Report
Tetra Tech reported record revenue and increased profitability due to strong demand for high-end water, environment, and sustainable infrastructure services.
Key Takeaways
Tetra Tech reported record third quarter revenue and raised full year guidance for net revenue and earnings. The company's GSG and CIG margins expanded. A five-for-one stock split was approved.
Tetra Tech achieved record quarterly revenue.
The company's backlog reached an all-time high.
GSG margins expanded by 60 basis points year-over-year.
CIG margins expanded by 230 basis points year-over-year.
Forward Guidance
Tetra Tech is raising EPS guidance to range from $6.23 to $6.28 and is raising net revenue guidance to range from $4.27 billion to $4.32 billion for fiscal year 2024. Tetra Tech expects EPS for the fourth quarter of fiscal 2024 to range from $1.82 to $1.87 and net revenue to range from $1.09 billion to $1.14 billion.
Positive Outlook
- EPS guidance raised to $6.23 - $6.28, an increase of 23% year-over-year at the midpoint.
- Net revenue guidance raised to $4.27 billion - $4.32 billion, an increase of 15% year-over-year at the midpoint.
- EPS for Q4 2024 expected to range from $1.82 to $1.87.
- Net revenue for Q4 2024 expected to range from $1.09 billion to $1.14 billion.
- Strong performance through the third quarter with increasing demand for high-end services.
Challenges Ahead
- Business outlook is based on current expectations and is subject to change.
- Actual results could differ materially.
- Statements do not include potential impact of transactions that may be completed or developments that become evident after the date of this release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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