Tetra Tech(TTEK)

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Tetra Tech(TTEK) - 2023 Q3 - Earnings Call Transcript
2023-08-10 20:21
Financial Data and Key Metrics Changes - Revenue increased by 36% year-over-year, from $890 million to $1.21 billion [6] - EBITDA income rose by 33% year-over-year, reaching a record high of $119 million [6] - Backlog increased to a new high of $4.39 billion, up 25% from last year [6][9] - Legacy Tetra Tech's revenue without RPS was $989 million, up 11% year-over-year [6] - Earnings per share increased by 19% from the prior year [6] Business Line Data and Key Metrics Changes - Government Services Group (GSG) segment grew by 16% year-over-year, with margins increasing to 14% [8] - Commercial/International Group (CIG) segment grew by 55% year-over-year, primarily due to the addition of RPS [8] - U.S. federal client work increased by 30%, driven by growth in water and environmental programs [6] - State and local revenues were up 16% year-over-year, excluding extraordinary disaster response programs [7] - U.S. commercial net revenues increased by 22% year-over-year, driven by renewable energy and environmental assessments [7] Market Data and Key Metrics Changes - International revenue, primarily driven by RPS, increased by 68% year-over-year [7] - Significant new contract capacity awarded in the U.S. and the U.K. for water programs [9][10] Company Strategy and Development Direction - The company is focused on leveraging revenue synergies from the RPS Group and increasing funding from U.S. federal stimulus programs [3][15] - Tetra Tech Delta technologies are being utilized to enhance profit margins without increasing headcount [4][5] - The company aims to increase EBITDA margins from RPS from under 5% in fiscal 2022 to over 13% by fiscal 2025 [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong demand for services in water, environment, and sustainable infrastructure [22] - The integration of RPS is exceeding expectations, contributing to a robust pipeline of opportunities [22][23] - The company anticipates continued growth driven by federal funding and climate change commitments [23] Other Important Information - Cash flows from operations totaled $133 million, up 35% year-over-year [10] - The company paid out $14 million in dividends, marking the 37th consecutive quarterly dividend [11] - The net leverage multiple was approximately 1.6, with expectations to reduce it to about 1.4 by year-end [14] Q&A Session Summary Question: What is driving the momentum in the quarter? - Management noted broad-based performance across all end markets, with no single unusual contributor driving the results [24][26] Question: Can the current pace of growth be sustained? - Management indicated strong backlog growth and mid-teens organic growth, suggesting sustainability in growth [30][31] Question: What is driving better-than-expected results from RPS? - The strong workforce and cultural alignment between RPS and Tetra Tech were highlighted as key factors [32][33] Question: Can you elaborate on Tetra Tech Delta? - Tetra Tech Delta encompasses various tools that enhance project efficiency and margins, with significant growth potential [38][40] Question: Are margins in the backlog improving? - Management confirmed that embedded operating margins in the backlog are tending higher due to pricing power and a shift to higher-end work [46][47]
Tetra Tech(TTEK) - 2023 Q3 - Quarterly Report
2023-08-10 20:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 2, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-19655 TETRA TECH, INC. (Exact name of registrant as specified in its charter) Delaware 95-4148514 (State or other jurisdiction of in ...
Tetra Tech(TTEK) - 2023 Q2 - Quarterly Report
2023-05-11 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 2, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-19655 TETRA TECH, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or orga ...
Tetra Tech(TTEK) - 2023 Q2 - Earnings Call Transcript
2023-05-11 19:12
Tetra Tech, Inc. (NASDAQ:TTEK) Q2 2023 Earnings Conference Call May 11, 2023 11:00 AM ET Company Participants Dan Batrack - Chairman and Chief Executive Officer Steve Burdick - Chief financial Officer Jill Hudkins - President Leslie Shoemaker - Chief Sustainability Officer Conference Call Participants Sean Eastman - KeyBanc Tate Sullivan - Maxim Group Andy Wittmann - Baird Michael Dudas - Vertical Research Operator Good morning and thank you for joining the Tetra Tech Earnings Call. As a reminder, Tetra Tec ...
Tetra Tech(TTEK) - 2023 Q1 - Quarterly Report
2023-02-03 21:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 1, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-19655 TETRA TECH, INC. (Exact name of registrant as specified in its charter) Delaware 95-4148514 (State or other jurisdiction of ...
Tetra Tech(TTEK) - 2023 Q1 - Earnings Call Transcript
2023-02-02 21:09
Tetra Tech, Inc. (NASDAQ:TTEK) Q1 2023 Earnings Conference Call February 2, 2023 11:00 AM ET Company Participants Dan Batrack - Chairman & Chief Executive Officer Steve Burdick - Chief Financial Officer Jill Hudkins - President Conference Call Participants Noelle Dilts - Stifel Andy Wittmann - Baird Alex Dwyer - KeyBanc Tate Sullivan - Maxim Group Michael Dudas - Vertical Research Operator Good morning and thank you for joining the Tetra Tech Earnings Call. As a reminder, Tetra Tech is also simulcasting thi ...
Tetra Tech(TTEK) - 2023 Q1 - Earnings Call Presentation
2023-02-02 18:14
EARNINGS CALL Q1-23February 2, 2023 Dan Batrack, Chairman & CEO Steve Burdick, Executive VP & CFO Jill Hudkins, President WATER ENVIRONMENT SUSTAINABLE INFRASTRUCTURE Leading with Science® Forward Looking Statements & Non-GAAP Financial Measures All statements in this communication other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, s ...
Tetra Tech(TTEK) - 2022 Q4 - Annual Report
2022-11-24 00:15
(626) 351-4664 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended October 2, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number 0-19655 __________________________________________ ...
Tetra Tech(TTEK) - 2022 Q4 - Earnings Call Transcript
2022-11-10 21:21
Tetra Tech, Inc. (NASDAQ:TTEK) Q4 2022 Results Conference Call November 10, 2022 10:00 AM ET Company Participants Dan Batrack - Chairman and Chief Executive Officer Steven Burdick - Chief Financial Officer Jill Hudkins - President Conference Call Participants Sean Eastman - KeyBanc Tate Sullivan - Maxim Group Andrew Wittmann - Baird Michael Dudas - Vertical Research Partners Operator Good morning and thank you for joining the Tetra Tech Earnings Call. As a reminder, Tetra Tech is also simulcasting this pres ...
Tetra Tech(TTEK) - 2022 Q4 - Earnings Call Presentation
2022-11-10 20:02
EARNINGS CALL Q4-22November 10, 2022 Dan Batrack, Chairman & CEO Steve Burdick, Executive VP & CFO Jill Hudkins, President WATER ENVIRONMENT SUSTAINABLE INFRASTRUCTURE Leading with Science® Forward Looking Statements & Non-GAAP Financial Measures Certain statements contained in this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, such as those related to fluctuations in the Company's qua ...