Tetra Tech reports record results in the third quarter, raises forecast and announces a five-for-one stock split.
Sales increased 11% year-on-year to 1.34 billion US dollars
Net sales1 increased by 12% year-on-year to 1.11 billion US dollars
Operating profit increased by 32% year-on-year to USD 129 million
Earnings per share increased by 42% year-on-year to USD 1.59
Order backlog increased by 19% year-on-year to USD 5.23 billion
Industry leading DSO of 54 days
Cash flow from operating activities of USD 141 million
Net debt / EBITDA reduced by 34% Y/Y to 1.15x
Recent key achievements
USD 439 million to build energy resilience through innovative solutions for diversified generation, supply and storage of energy in Ukraine
USD 73 million to increase energy resilience and support sustainable infrastructure across West Africa
USD 65 million for disaster risk reduction related to the impacts of climate change and rising sea levels in vulnerable areas in the Asia-Pacific region
USD 64 million to support sustainable land and infrastructure systems, including water resource management and irrigation in developing countries
USD 56 million to develop an advanced water treatment and PFAS removal solution for a new facility in Virginia
USD 54 million for sustainable climate change adaptation infrastructure programs in Southeast Asia
US$35 million for the assessment and restoration of water and environmental impacts associated with fire recovery in Hawaii
US$32 million for the investigation and assessment of contaminated sediments in the Anacostia River in the Potomac River Basin
USD 27 million for the assessment and development of leachate treatment solutions at municipal landfills in California
Management commentary
Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-quality water, environmental and sustainable infrastructure consulting and engineering services, today announced results for the third quarter ended June 30, 2024.