Tetra Tech Q1 revenue $1.23B (+37%), EPS $1.40; raises FY2024 guidance; declares $0.26 dividend

TETRA TECH INC

2024-Q1 EPS reported $1.40 revenue$1,228,267,000

Q1 revenue $1.23B (+37% YoY), net revenue $1.02B (+38% YoY); diluted EPS $1.40 (record).
EBITDA $131M (+32% YoY); backlog $4.74B (+24% YoY).
Raised FY2024 net revenue and EPS guidance; targeting 20% EPS growth and 20% IFRS EBITDA margin.
Quarterly dividend $0.26/share, payable Feb 27, 2024 to holders of record Feb 14, 2024.
RPS integration: EBITDA margin >10% (up 600 bps YoY); $100M+ in new contract synergies.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TETRA TECH INC reported first fiscal quarter ended December 31, 2023 results: revenue $1.23 billion, EPS $1.40. Guidance raised.

Period: first fiscal quarter ended December 31, 2023
Revenue: $1.23 billion
EPS: $1.40
Guidance: raised
Result: reported results

Exact text from the filing

First Quarter Highlights · Revenue increased 37% to $1.23 billion with double-digit organic growth · EBITDA increased 32% to $131 million; on pace to reach $575 million in FY24, doubling in the past 3 years · Record first quarter EPS of $1.40 · Largest first quarter backlog ever, up 24% year-over-year · Industry leading DSO of 55 days · RPS Group integration exceeding expectations: – RPS EBITDA margin exceeded 10%, up more than 600 basis points in less than one year – RPS revenue synergies with more than $100 million in new contracts won

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Source: SEC EDGAR

accession 0001104659-24-008841

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