TETRA TECH Reports Third Quarter FY2023 Earnings Results on August 9 2023
August 13, 2023
🌥️Earnings Overview
On August 9 2023, TETRA TECH ($NASDAQ:TTEK) released its earnings report for the third quarter of FY2023, which ended June 30, 2023. Revenue for the quarter totaled USD 1209.0 million, a 35.8% year-on-year increase, while net income was up 2.7% year-on-year to USD 60.2 million.
Stock Price
TETRA TECH, a global engineering, consulting, and technical services company, reported its third quarter FY2023 earnings on Wednesday, August 9th, 2023. At the close of the trading day, TETRA TECH stock opened at $167.4 and closed at $167.0, up by 0.1% from its previous closing price of 166.9. This growth was driven mainly by strong performance in both the company’s domestic and international markets. This was driven by its strong performance in both its core and non-core businesses, as well as growth in services and new products.
Overall, TETRA TECH’s third quarter FY2023 earnings results demonstrate the company’s continued financial strength and stability in a challenging economic environment. The company is well positioned to continue delivering strong results in the quarters 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
GoodWhale has analyzed the fundamentals of TETRA TECH and our Risk Rating has determined that it is a medium risk investment. This means that while the company has some strengths – such as revenues and profitability – there are also some areas for caution. We have detected one risk warning in the balance sheet which could indicate potential issues in the future. Register with us to find out more about this warning and to gain access to our full analysis. 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 an impressive third quarter for FY2023, with total revenue of USD 1209.0 million – a 35.8% improvement compared to the same period last year. Net income also grew by 2.7%, reaching USD 60.2 million. Investors may be encouraged by the company’s positive momentum, which was driven by strong performance in the US and international markets.
It also appears that TETRA TECH has been able to maintain attractive margins and manage its costs efficiently. Therefore, TETRA TECH appears to be an attractive option for investors seeking growth opportunities in the engineering and consulting services industry.
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