Tetra Tech Q1 Profit Rises

(RTTNews) - Tetra Tech, Inc. (TTEK), Wednesday reported first-quarter net income of $68.5 million or $1.25 per share, compared to $52.4 million or $0.96 per share last year.

Adjusted earnings for the quarter were $1.19 per share. Analysts polled by Thomson Reuters estimated earnings of $1.03 per share for the quarter.

Revenues for the quarter were $679.33 million, compared to $605.17 million last year. Analysts had a consensus revenue estimate of $663.05 million for the quarter.

Looking forward to the second quarter, Tetra Tech expects earnings of $0.86 to $0.91 and net revenue to range from $620 million to $670 million. Analysts currently estimate earnings of $0.89 per share on revenues of $651.48 million.

For fiscal 2022, Tetra Tech now expects earnings of $4.15 to $4.30 and net revenue to range from $2.65 billion to $2.80 billion. Analysts currently estimate earnings of $4.14 per share and revenues of $2.71 billion.

Previously, the company expected earnings of $4.00 to $4.20 per share and revenue to range from $2.60 billion to $2.80 billion.