Tetra Tech ( (TTEK) ) has released its Q2 earnings. Here is a breakdown of the information Tetra Tech presented to its investors.
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Tetra Tech, Inc., headquartered in Pasadena, California, is a prominent provider of high-end consulting and engineering services focusing on water, environment, and sustainable infrastructure projects globally. The company is known for its innovative approach, ‘Leading with Science,’ to solve complex challenges in these sectors.
Tetra Tech has reported robust financial results for the second quarter of fiscal year 2025, achieving record revenues and net income. The company has also increased its full-year guidance for net revenue and earnings per share (EPS), reflecting its strong performance and optimistic outlook.
Key financial highlights from the second quarter include a 6% year-over-year increase in revenue to $1.322 billion and a 5% rise in net revenue to $1.104 billion. Adjusted operating income saw an 11% increase to $130 million, while adjusted EPS grew by 18% to $0.33. The company also announced several significant contract wins, including a $416 million contract for environmental engineering services and a $249 million contract for planning and engineering services.
Tetra Tech’s strategic initiatives include a 12% increase in its quarterly dividend and the expansion of its stock repurchase program by an additional $500 million. The company has also entered into an amended credit agreement with a borrowing capacity of $1.5 billion.
Looking ahead, Tetra Tech remains optimistic about its growth prospects, with raised guidance for fiscal year 2025 net revenue and EPS. The company continues to focus on expanding its global digital technology and program management businesses, despite challenges such as the reorganization of USAID contracts.