Tetra Tech Achieves Record Fiscal Growth in 2024

Tetra Tech ( (TTEK) ) has released its Q4 earnings. Here is a breakdown of the information Tetra Tech presented to its investors.

Tetra Tech, Inc., headquartered in Pasadena, California, is a leading provider of high-end consulting and engineering services, specializing in water management, environmental protection, and sustainable infrastructure solutions worldwide.

Tetra Tech has announced record-breaking financial results for its fiscal year and fourth quarter of 2024, with significant growth in revenue, operating income, and earnings per share. The company attributes these positive outcomes to the growing demand for its advanced consulting services in water resources management and resilient infrastructure.

Key highlights from the fiscal year include a 15% year-over-year increase in both total revenue and net revenue, reaching $5.20 billion and $4.32 billion, respectively. Operating income rose by 40% to $501 million, while earnings per share saw a 21% rise, reflecting the company’s robust performance. Tetra Tech’s backlog also increased by 12% to $5.38 billion, supported by significant contract wins, including a $12 billion deal with the Defense Logistics Agency and a $5 billion contract with USAID.

Additionally, Tetra Tech announced a 12% increase in its quarterly dividend and has $348 million remaining in its share repurchase program. The company’s forward guidance for fiscal 2025 projects continued growth, anticipating a 15% rise in earnings per share driven by the strong demand for its high-end services and a record backlog.

Looking ahead, Tetra Tech’s management remains optimistic about maintaining its growth momentum, focusing on expanding its global water consultancy and increasing its recurring revenue software business. The company is well-positioned to meet the continued demand for water security solutions, coastal flood protection, and digital modernization of infrastructure.