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Tetra Tech (TTEK) investor relations material
Tetra Tech Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong start to FY2026 with 8% net revenue growth and 12% operating income growth year-over-year, driven by demand for water, environmental, and defense services, and supported by strategic acquisitions in analytics and advisory.
Raised FY2026 guidance for net revenue and EPS, positioning for 2030 goals and reflecting robust backlog and major contract wins.
Backlog reached $5.44 billion ($4.31 billion excluding USAID/DOS), with international revenue comprising up to 48% and growing 13%.
Board approved a 12% increase in quarterly dividend and completed $50 million in share repurchases in Q1.
CEO transition announced, with Roger Argus to become CEO after the annual meeting.
Financial highlights
Q1 FY2026 net revenue was $987 million (excluding USAID/DOS), up 8% year-over-year; as reported, revenue was $1.21 billion.
Operating income reached $141 million, up 12% year-over-year; adjusted EBITDA margin increased 140 basis points to 14.2%.
Adjusted EPS was $0.34, GAAP EPS was $0.40, up 17% from Q1 last year.
Cash flow from operations was $72 million in Q1, with trailing 12-month cash flow over $500 million.
DSO improved to 51 days, the lowest in over 10 years.
Outlook and guidance
FY2026 net revenue guidance: $4.15–$4.3 billion; adjusted EPS: $1.46–$1.56.
Q2 FY2026 net revenue guidance: $975 million–$1.025 billion; adjusted EPS: $0.30–$0.33.
Guidance includes Providence acquisition but excludes future acquisitions; no significant USAID/DOS revenue expected for the remainder of FY2026.
International, U.S. commercial, and U.S. federal sectors forecasted to grow 5%-10%; U.S. state and local expected to grow 10%-15%.
U.S. commercial revenue (excluding renewable energy) anticipated to grow in the second half of FY2026.
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Adjusted EPS was $7.57, with strong segment EBIT and stable 2026 guidance. - ATS
Q3 revenue rose 17% to $760.7M, with strong backlog and Q4 revenue guided at $710–$750M. - SWK
Gross margin and net income rose, with CAM divestiture set to reduce debt and boost 2026 outlook. - PMI
FDA-approved artificial heart maker registers 17M shares for resale amid ongoing losses and risks. - ARCC
FY 2025 net income was $1,299M, with a $0.48/share Q1 2026 dividend declared. - SDST
Development-stage lithium refiner registers shares for resale amid high risk and capital needs. - DAC
Q2 2025 saw revenue growth, high charter coverage, and strong liquidity despite rising costs. - OCSL
Net investment income was $36.7M ($0.42/share) as NAV fell to $16.30 and a $0.40 dividend was declared. - NUWE
Registering 4.28M shares for resale, proceeds from warrant exercises support working capital. - WBD
Board selects Netflix merger for streaming and studios, with Discovery Global to be spun off.
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