TETRA TECH Reports Third Quarter Earnings Results for FY2023
August 16, 2023
🌥️Earnings Overview
On June 30, 2023, TETRA TECH ($NASDAQ:TTEK) announced its earnings results for the third quarter of FY2023. Total revenue for the quarter was USD 1209.0 million, with a year-over-year increase of 35.8%. Net income for the period was USD 60.2 million, representing an increase of 2.7% over the same period in the prior year.
Share Price
The stock opened at $167.4 and closed at $167.0, up by a marginal 0.1% from its previous closing price of 166.9. Overall, TETRA TECH’s quarterly earnings report showed positive signs with the company’s net income increasing slightly over the last quarter. TETRA TECH attributed the modest increase in earnings to a combination of higher sales, improved cost control and lower costs of operating expenses. The company also noted that its customer base has been growing steadily over the past few quarters. The report also revealed some encouraging developments within the company’s operations.
Altogether, this has been an encouraging quarter for TETRA TECH. The company’s strong financials and sound operational improvements demonstrate its healthy financial standing and potential for future growth. Investors are expected to continue to monitor TETRA TECH’s progress as it continues to report positive earnings results in the months ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tetra Tech. More…
| Total Revenues | Net Income | Net Margin |
| 4.16k | 302.72 | 7.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tetra Tech. More…
| Operations | Investing | Financing |
| 306.26 | -779.37 | 427.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tetra Tech. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.97k | 2.52k | 27.28 |
Key Ratios Snapshot
Some of the financial key ratios for Tetra Tech are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.5% | 21.4% | 11.0% |
| FCF Margin | ROE | ROA |
| 6.9% | 20.3% | 7.2% |
Analysis
At GoodWhale, we analyze the fundamentals of a company, such as TETRA TECH, before making a decision to invest. After our analysis, we determine that TETRA TECH is a medium risk investment in terms of financial and business aspects. This means that it is not a high-risk investment but not a low-risk one either. We have also detected 1 risk warning in the TETRA TECH balance sheet. To find out more about this warning and the associated risk, you can become a registered user on GoodWhale. With our platform, you can make informed decisions about your investments. More…
Peers
The company operates in over 40 countries and has a workforce of over 20,000 employees. Tetra Tech‘s main competitors are NV5 Global Inc, Atlas Technical Consultants Inc, and PORR AG.
– NV5 Global Inc ($NASDAQ:NVEE)
NV5 Global Inc is a professional and technical consulting firm that provides a variety of services to public and private sector clients. The company offers a wide range of services including program and construction management, consulting engineering, energy efficiency, and environmental health and safety. NV5 Global has a market cap of 2.02B as of 2022 and a Return on Equity of 8.78%. The company has a long history of providing high quality services to its clients and has a strong reputation in the industry.
– Atlas Technical Consultants Inc ($NASDAQ:ATCX)
Atlas Technical Consultants Inc. is a civil engineering firm that provides consulting services for infrastructure projects. The company has a market capitalization of $256.67 million and a return on equity of -15.82%. Atlas Technical Consultants Inc. provides consulting services for transportation, water, and wastewater projects. The company was founded in 1985 and is headquartered in Los Angeles, California.
– PORR AG ($LTS:0J04)
Porr AG is a publicly traded company with a market capitalization of 406.24 million as of 2022. The company’s return on equity is 10.75%. Porr AG is a construction and engineering company that specializes in the development, construction, and operation of infrastructure projects. The company has a strong focus on transportation infrastructure, including railways, highways, and airports. Porr AG also has a significant presence in the energy sector, with a focus on renewable energy projects.
Summary
TETRA TECH reported strong financial results for the third quarter of FY2023, with total revenue increasing by 35.8% year-over-year to USD 1209.0 million. Net income rose by 2.7% to USD 60.2 million. Investors may be encouraged by this positive outlook, with the company’s financials indicating steady growth. With a solid financial performance and increasing demand for their services, TETRA TECH may be a viable option for investors looking for a reliable stock to add to their portfolio.
