Tetra Tech reports Q2 EPS 68c, consensus 31c

Reports Q2 revenue $1.32B, consensus $1.04B. Dan Batrack, Chairman and CEO, commented, “We generated record second quarter results for revenue and net income despite the decrease in revenue associated with the reorganization of USAID. Our growth in State and Local, U.S. Commercial, and International revenues more than offset this headwind, which resulted in net revenue and EPS exceeding consensus and the upper end of our guidance range for the quarter. We are seeing significant demand for our differentiated Leading with Science(R) services in our water and environmental markets, including our high-end digital automation services for our municipal and commercial clients. In the last month, we announced strategic acquisitions expanding our global digital technology and program management businesses. Based on our strong performance, we increased our dividend by 12% and expanded our stock buyback program by an additional $500 million. With record year-to-date performance and a strong outlook, we are raising our FY25 guidance for net revenue and EPS.”