TTEK
Tetra Tech, Inc.34.15
-0.29-0.84%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Intl geo color, aggressive M&A shift
Q&A unpacked international growth, spotlighting double-digit UK/Ireland water wins, Canada's Arctic infrastructure and defense push, and Australia's shift from -15% to flat. No walk-backs, but Dan Batrack detailed bolder M&A hunt post-CEO transition, eyeing 4x leverage briefly for transformative partner deals while bolt-ons like Halvic offset Norway divestiture. Guidance midpoint holds at 9% revenue growth, low end flags shutdown risks. Australia's no longer a drag. Management stayed bullish on water resilience; investors watch deal flow and federal ramp.
Key Stats
Market Cap
8.97BP/E (TTM)
36.72Basic EPS (TTM)
0.93Dividend Yield
0.01%Recent Filings
8-K
Thornburg joins Tetra Tech board
Tetra Tech appointed Eric W. Thornburg, ex-CEO of H20 America, to its board effective March 30, 2026, expanding to eight members. He joins Compensation and Nominating committees, bringing 40+ years in water utilities. Compensation includes $110,000 retainer and $175,000 equity award. His water infrastructure expertise bolsters Tetra Tech's market focus.
8-K
Argus joins Tetra Tech Board
Tetra Tech appointed Roger R. Argus to its Board effective February 19, 2026, tying to his new CEO role after 30+ years climbing from project manager to President in October 2025. Stockholders at the annual meeting elected six directors with strong support, approved executive comp advisory, ESPP amendment, and PwC ratification. Leadership continuity locks in.
10-Q
Q1 FY2026 results
Tetra Tech's Q1 FY2026 revenue fell 15% y/y to $1.21B, driven by 46% drop in U.S. federal from USAID cuts, yet CIG surged 9% on international water projects while GSG margins climbed to 16.5% from better execution. Operating income soared to $141M from last year's $115M legal hit, delivering $0.40 diluted EPS on 263K shares—clean and reconciled. Cash jumped to $269M after $72M operating inflow and $42M Norway divestiture proceeds; long-term debt at $834M with $529M revolver availability and 1.24x leverage. Free cash flow hit $68M (derived). Stock buybacks doubled to $50M. Solid balance sheet absorbs federal volatility.
8-K
Q1 beats, raised FY26 outlook
Tetra Tech kicked off fiscal 2026 with Q1 net revenue of $1.04 billion and adjusted EBITDA of $147 million, up 8% excluding USAID/DOS. Margins expanded 140 basis points while EPS climbed 17% year-over-year. Strong wins bolstered $3.95 billion backlog. Board hiked quarterly dividend 12% to $0.065/share; FY26 guidance raised to $4.15-4.30 billion net revenue, $1.46-1.56 adjusted EPS.
8-K
Argus named next CEO
Tetra Tech announced Roger R. Argus, current President with over 30 years at the firm, will succeed Dan L. Batrack as CEO and join the Board effective February 19, 2026. Batrack shifts to Executive Chairman for at least two years to ensure strategy continuity. Succession stems from long-term planning. Smooth transition ahead.
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