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Tetra Tech, Inc. (NASDAQ: TTEK) today announced results for the fourth quarter and fiscal year ended September 29, 2019. Fourth Quarter Results Tetra Tech achieved record quarterly results with all-time highs for revenue, net revenue, and backlog. Revenue in the fourth quarter totaled $842 million, up 14% year-over-year. Revenue, net of subcontractor costs 1 (net revenue), on an adjusted basis, in the fourth quarter was $640 million, up 14% year-over-year. EPS was $0.21 on a GAAP basis; adjusted EPS 1 was $0.88, up 17% year-over-year. Backlog at the end of the quarter was a record $3.1 billion, up 16% year-over-year. Quarterly Dividend and Share Repurchase Program On November 11, 2019, Tetra Tech’s Board of Directors declared a $0.15 per share dividend payable on December 13, 2019 to stockholders of record as of December 2, 2019. In the fourth quarter, Tetra Tech repurchased $25 million of common stock. Additionally, as of September 29, 2019, the Company had $125 million remaining under the approved share repurchase program. Fiscal Year Results Revenue for fiscal 2019 totaled $3.1 billion and adjusted net revenue was $2.4 billion, up 5% and 9%, respectively, compared to the prior year. EPS was $2.84; on an adjusted basis, […]
