NASDAQ$TTEK
Tetra Tech Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Tetra Tech achieved record quarterly results driven by strong double-digit top line growth across government and commercial end markets.
Tetra Tech reported record second-quarter results with revenue reaching $1.16 billion and net revenue at $970 million, up 36% and 39% year-over-year, respectively. Adjusted EPS increased by 19% to $1.17, and backlog hit a record high of $4.27 billion, up 18% year-over-year. The company is increasing its net revenue and adjusted EPS guidance for fiscal year 2023.
- Revenue totaled $1.16 billion, a 36% increase year-over-year.
- Net revenue was $970 million, up 39% year-over-year.
- Adjusted EPS was $1.17, a 19% increase over the second quarter of fiscal 2022.
- Backlog increased to a record high of $4.27 billion, up 18% year-over-year.
Headline financials
Revenue & EPS history
Tetra Tech · Revenue · Quarterly
$1.16B
Forward guidance
Tetra Tech is increasing adjusted EPS guidance to range from $5.07 to $5.17 and is increasing net revenue guidance to range from $3.10 billion to $3.20 billion for fiscal 2023. Tetra Tech expects adjusted EPS for the third quarter of fiscal 2023 to range from $1.15 to $1.20 and net revenue to range from $750 million to $800 million.
Tailwinds
- Adjusted EPS guidance increased to $5.07 - $5.17 for fiscal 2023.
- Net revenue guidance increased to $3.10B - $3.20B for fiscal 2023.
- Adjusted EPS for Q3 2023 expected to be $1.15 - $1.20.
- Net revenue for Q3 2023 expected to be $750M - $800M.
- RPS is expected to contribute additional net revenue of approximately $150 million to $175 million in the third quarter and $450 million to $500 million for fiscal 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.6%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+1.2%
Avg return
30 days after
53%
36 / 68 earnings
Positive
+17.2%
Q4 2022
Best reaction
-12.8%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -1.0% | -0.7% | -13.7% | |
| Q1 2026 | +3.2% | +5.2% | -3.4% | |
| Q4 2025 | +15.4% | +9.8% | +6.5% | |
| Q2 2025 | +13.0% | +13.5% | +15.3% | |
| Q1 2025 | -2.9% | -8.3% | -22.5% | |
| Q4 2024 | -12.8% | -14.0% | -11.2% | |
| Q3 2024 | +7.9% | +6.5% | +11.5% | |
| Q2 2024 | +4.9% | +8.9% | +7.6% | |
| Q1 2024 | +0.2% | +0.6% | +7.6% | |
| Q4 2023 | +1.7% | +2.3% | +2.8% | |
| Q3 2023 | +0.8% | -0.1% | -6.9% | |
| Q2 2023 | +1.4% | -2.6% | +8.8% | |
| Q1 2023 | -1.6% | -3.6% | -10.7% | |
| Q4 2022 | +17.2% | +13.7% | +9.1% | |
| Q3 2022 | -4.3% | -6.7% | -12.7% | |
| Q2 2022 | -3.3% | -8.8% | +0.5% | |
| Q1 2022 | +3.9% | +3.5% | +13.1% | |
| Q4 2021 | +3.3% | +3.6% | -10.8% | |
| Q3 2021 | +1.6% | +3.0% | +10.8% | |
| Q2 2021 | -4.9% | -7.8% | -11.0% | |
| Q1 2021 | -4.8% | -7.1% | +3.6% | |
| Q4 2020 | +1.8% | +8.8% | +0.9% | |
| Q3 2020 | +4.5% | +5.3% | +8.3% | |
| Q2 2020 | -4.9% | -10.6% | -0.3% | |
| Q1 2020 | -0.8% | -2.6% | -9.7% | |
| Q4 2019 | -0.9% | +0.0% | -1.4% | |
| Q3 2019 | -3.4% | -5.4% | +2.1% | |
| Q2 2019 | +4.5% | +5.0% | +4.3% | |
| Q1 2019 | +13.6% | +12.9% | +24.7% | |
| Q4 2018 | +7.7% | -0.6% | -18.7% | |
| Q3 2018 | +8.7% | +12.8% | +14.8% | |
| Q2 2018 | +2.5% | +5.9% | +16.9% | |
| Q1 2018 | +7.0% | -3.6% | -0.7% | |
| Q4 2017 | -2.4% | +1.0% | -0.7% | |
| Q3 2017 | -11.5% | -11.8% | -9.6% | |
| Q2 2017 | +0.6% | +3.5% | +5.1% | |
| Q1 2017 | -7.7% | -5.1% | -6.8% | |
| Q4 2016 | +4.3% | +7.6% | +14.9% | |
| Q3 2016 | +2.3% | +1.3% | +7.1% | |
| Q2 2016 | -1.6% | — | — | |
| Q1 2016 | +5.3% | — | — | |
| Q4 2015 | -3.9% | — | — | |
| Q3 2015 | +1.8% | — | — | |
| Q2 2015 | +8.4% | — | — | |
| Q1 2015 | -3.9% | — | — | |
| Q4 2014 | +1.9% | — | — | |
| Q3 2014 | -9.7% | — | — | |
| Q2 2014 | -5.0% | — | — | |
| Q1 2014 | +0.7% | — | — | |
| Q4 2013 | +8.7% | — | — | |
| Q3 2013 | -0.2% | — | — | |
| Q2 2013 | +1.1% | — | — | |
| Q1 2013 | -2.2% | — | — | |
| Q4 2012 | -3.4% | — | — | |
| Q3 2012 | -4.3% | — | — | |
| Q2 2012 | -2.4% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q4 2011 | +0.2% | — | — | |
| Q3 2011 | -12.5% | — | — | |
| Q2 2011 | +4.9% | — | — | |
| Q1 2010 | +1.3% | — | — | |
| Q1 2011 | +1.2% | — | — | |
| Q4 2008 | -2.6% | — | — | |
| Q2 2010 | -2.6% | — | — | |
| Q4 2010 | -2.6% | — | — | |
| Q3 2010 | -0.5% | — | — | |
| Q4 2009 | -0.5% | — | — | |
| Q3 2009 | -0.5% | — | — |
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