Q1 2026 Tetra Tech Inc Earnings Call Transcript
Key Points
- Tetra Tech Inc (TTEK) reported an 8% increase in net revenue for the first quarter of fiscal year 2026, reaching $987 million.
- Operating income rose by 12% compared to the previous year, totaling $131 million.
- Earnings per share increased by 17% from the first quarter of last year, with an adjusted EPS of $0.34.
- The company expanded its margins by 140 basis points on a GAAP basis.
- Tetra Tech Inc (TTEK) maintained a strong balance sheet with a net debt leverage of 0.86 times, 20% lower than the previous year.
- The US government shutdown impacted the company's federal client orders, slowing down new project orders.
- US commercial work saw a slight decline, primarily due to reductions in renewable energy projects.
- The company divested its Norway operation, which was deemed non-core, impacting overall revenue.
- There is potential risk of another US government shutdown, which could affect future performance.
- The international growth, while strong, faces challenges such as the recovery in the Australian market, which is not yet in a growth phase.
Good morning and thank you for joining the Tetra tech earnings call.
As a reminder, Tetratech is also simulcasting this presentation with slides in the investors section of its website at Tetratech.com.
This call is being recorded at the request of Tetratech, and this broadcast is the copyrighted property of Tetratech.
Any broadcast of this information in whole or part without the prior written permission of Tetratech is prohibited.
With us today from management are Dan Battrack, Chairman and Chief Executive Officer, Steve Burdick, Chief Financial Officer, and Roger Argus, President and CEO designate.
They will provide a brief overview of the results and will then open up the call for questions.
I would like to direct your attention to the safe harbor statement in today's presentation.
Today's discussion contains forward-looking statements about future business and financial expectations. Actual results may differ significantly from those projected in today's forward-looking statements due to the various risks and uncertainties, including
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