Tetra Tech Reports Record Second Quarter Results and Raises Full Fiscal Year Guidance - Seite 2

Dr. Leslie Shoemaker, Chief Innovation and Sustainability Officer, stated, “As the leading high-end water consultancy in North America, we will highlight the newest market drivers for water and environment at our upcoming Investor Day, including our strategy for assisting our government and commercial clients in addressing EPA’s recent national PFAS regulations. Tetra Tech is an industry-leading expert for investigating and assessing the impacts of PFAS, including groundwater characterization work for the Department of Defense, award-winning municipal PFAS treatment designs, and removal of PFAS from fire-fighting foam in facilities world-wide. Tetra Tech’s Leading with Science approach provides cost-effective, technology driven, multi-contaminant treatment solutions across the entire water cycle.”

Sustainability Report Issued on Earth Day 2024

Tetra Tech uses our Leading with Science approach to develop innovative, sustainable solutions that support our clients in developing safe and resilient water supplies, net zero energy programs, and biodiversity protection. Our sustainability program and associated goals align with our ongoing commitment to the United Nations (UN) Global Compact, the UN Sustainable Development Goals, and the Science Based Targets Initiative.

Tetra Tech’s 2024 Sustainability Report, released on Earth Day, highlights progress on our environmental, social, and governance goals and our commitment to improving the lives of 1 billion people by 2030. Our Sustainability Report shows that cumulatively we have provided beneficial impacts for 625 million people and contributed to a reduction of 153 million metric tons of CO₂e since our 2021 baseline assessment.

Quarterly Dividend and Share Repurchase Program

On April 29, 2024, Tetra Tech’s Board of Directors approved the Company’s 40^th consecutive quarterly dividend at an amount of $0.29 per share, a 12% increase year-over-year, payable on May 31, 2024, to stockholders of record as of May 20, 2024. Tetra Tech has $348 million remaining under its $400 million share repurchase program.

Six-Month Results

Revenue for the six-month period was $2.48 billion and net revenue was $2.07 billion, each up 21%, respectively, over the same period in fiscal 2023. EBITDA was $266 million, up 27%. EPS was $2.81, an increase of 17% over last year.

Business Outlook

The following statements are based on current expectations. These statements are forward-looking, and the actual results could differ materially. These statements do not include the potential impact of transactions that may be completed or developments that become evident after the date of this release. The Business Outlook section should be read in conjunction with the information on forward-looking statements at the end of this release.