USA: Tetra Tech Reports Record Revenue

US-based global provider of consulting and engineering services Tetra Tech, Inc. has announced results for the third quarter ended on July 1, 2018.

For the period from April to June, Tetra Tech achieved revenue of 765 million US-Dollar, up 12 percent year-over-year. For ongoing (1) operations, revenue totaled 761 million US-Dollar, and the revenue – net of subcontractor costs (2) (net revenue) – was 569 million US-Dollar. As reported, operating income for the third quarter was 55 million US-Dollar and on an ongoing basis totaled 60 million US-Dollar, up 26 percent year-over-year.

Nine-Month Results

Revenue for the nine-month period was 2.2 billion US-Dollar and net revenue was 1.6 billion US-Dollar, both up ten percent compared to the same period in fiscal 2017. Operating income for the nine-month period was 147 million US-Dollar.

Tetra Tech provides technical solutions to its clients and supports global commercial and government clients focused on water, environment (including waste management), infrastructure, resource management, energy, and international development. According to the company, Tetra Tech cooperates with more than 17,000 associates worldwide.

(1) Measures presented for ongoing operations are non-GAAP (GAAP: generally accepted accounting principles in the United States) financial measures.
(2) Tetra Tech’s revenue includes a significant amount of subcontractor costs and, therefore, the Company believes revenue, net of subcontractor costs, which is a non-GAAP financial measure, provides a valuable perspective on its business results.

GR 3/2018