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Tetra Tech(TTEK) - 2025 Q1 - Quarterly Results
TTEKTetra Tech(TTEK)2025-01-29 22:39

Revenue and Growth - Record revenue of 1.42billion,up161.42 billion, up 16% year-over-year[1] - Record net revenue of 1.20 billion, up 18% year-over-year[1] - Total revenue for 2024 was 5,198.7million,upfrom5,198.7 million, up from 4,522.6 million in 2023, representing a growth of approximately 15%[25] - Net revenue for the GSG segment reached 1,910.0millionin2024,comparedto1,910.0 million in 2024, compared to 1,635.5 million in 2023, indicating a growth of about 16.8%[25] - Adjusted EBITDA for the year 2024 was 584,032thousand,anincreasefrom584,032 thousand, an increase from 481,096 thousand in 2023, reflecting a growth of approximately 21.4%[26] Financial Performance - Adjusted operating income increased 24% year-over-year to 138million[5]−NetincomeforthethreemonthsendedDecember29,2024,was138 million[5] - Net income for the three months ended December 29, 2024, was 778 thousand, a significant decrease from 74,980thousandinthesameperiodof2023[24]−Netcashprovidedbyoperatingactivitiesincreasedto74,980 thousand in the same period of 2023[24] - Net cash provided by operating activities increased to 13,063 thousand from 9,246thousandyear−over−year[24]BacklogandContracts−Recordbacklogof9,246 thousand year-over-year[24] Backlog and Contracts - Record backlog of 5.44 billion, up 15% year-over-year[1] - Added over 1billionofnewcontractcapacityinthefirstquarter[6]GuidanceandExpectations−Fullyearguidancefornetrevenueexpectedtorangefrom1 billion of new contract capacity in the first quarter[6] Guidance and Expectations - Full year guidance for net revenue expected to range from 4.365 billion to 4.765billion[10]−AdjustedEPSguidanceforfiscal2025expectedtorangefrom4.765 billion[10] - Adjusted EPS guidance for fiscal 2025 expected to range from 1.37 to 1.52[10]ShareholderReturns−Quarterlydividendincreasedby121.52[10] Shareholder Returns - Quarterly dividend increased by 12% year-over-year to 0.058 per share[7] - Repurchased 25millionofcommonstockinthefirstquarter[7]−Thecompanyrepurchased25 million of common stock in the first quarter[7] - The company repurchased 25,000 thousand of common stock during the period, indicating a commitment to returning value to shareholders[24] Cash and Capital Management - Cash and cash equivalents at the end of the period increased to 248,104thousandfrom248,104 thousand from 198,689 thousand, marking a rise of about 24.9%[24] - Proceeds from borrowings amounted to 90,000thousand,downfrom90,000 thousand, down from 125,000 thousand in the previous year[24] - Capital expenditures remained stable at 3,433thousand,consistentwiththepreviousyear[24]−Thecompanypaid3,433 thousand, consistent with the previous year[24] - The company paid 14,489 thousand in income taxes during the period, a decrease from $43,297 thousand in the same quarter of the previous year[24] Operational Efficiency - Industry-leading Days Sales Outstanding (DSO) of 55.9 days[5]