Shares of Tetra Tech (TTEK) have been struggling lately and have lost 9.6% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the ...

Key Takeaways Willdan posted 15% Q3 revenue growth and 65.8% EPS growth, fueled by electrification demand.WLDN trades at 24.68X forward earnings after a 238% rally, with EPS estimates unchanged.Tetra Tech raised FY26 guidance, expanded margins and grew backlog to $3.95 billion.The infrastructure consulting space is being reshaped by electrification, AI-driven data center expansion, water scarcity and defense modernization. Two companies well-positioned within this evolving landscape are Willdan Group, Inc. ...

PASADENA, Calif.--(BUSINESS WIRE)-- #leadingwithscience--Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services in water, environment, and sustainable infrastructure, announced today that Rijkswaterstaat, the Netherland's Executive Agency of the Ministry of Infrastructure and Water Management, has selected Tetra Tech to provide engineering and technical services to develop and modernize the country's water infrastructure networks. Tetra Tech's water engineers wil ...

近期事件 来源：经济观察网 经济观察网 德照科技近期值得关注的事件 业绩经营情况 根据公开信息，德照科技（TTEK.US）最新披露的2025财年全年数据显示，其营业收入为54.43亿美 元，净利润为2.48亿美元，每股收益为0.94美元。公司2025年第四季度营收为11.633亿美元，超出市场 预期，每股收益0.48美元，同比增长37.14%。 在2025年11月的业绩电话会中，管理层重申了公司长期净收入增长目标区间为15%至20%，并指出已签 署两项收购独立业务的协议，预计将在2026年第一季度完成。 目前公开渠道尚未明确披露德照科技2026财年第一季度财报的具体发布日期。分析师对2026年第一季度 的营收预测值为9.765亿美元。投资者需关注公司后续关于财报发布日程的官方公告，以及上述收购交 易的完成进展。 未来发展 公司业务表现可能受到项目执行效率、收购整合效果及宏观经济环境等因素影响。请以纳斯达克交易所 及公司官方公告为准，获取最准确、最新的信息。 以上内容基于公开资料整理，不构成投资建议。 ...

Company Performance - Tetra Tech (TTEK) shares have increased by 11% over the past month, reaching a new 52-week high of $43.14, and have gained 20.5% since the start of the year, outperforming the Zacks Construction sector and the Zacks Engineering - R and D Services industry, both at 17% and 20.5% respectively [1] - The company has consistently beaten earnings estimates, reporting an EPS of $0.35 against a consensus estimate of $0.31 in its last earnings report [2] Earnings Forecast - For the current fiscal year, Tetra is expected to post earnings of $1.48 per share on revenues of $4.23 billion, reflecting a -5.13% change in EPS and a -8.41% change in revenues. For the next fiscal year, earnings are projected to be $1.74 per share on revenues of $4.58 billion, indicating a year-over-year change of 17.57% in EPS and 8.28% in revenues [3] Valuation Metrics - Tetra has a Value Score of D, with Growth and Momentum Scores of B, resulting in a VGM Score of B. The stock trades at 27.3X current fiscal year EPS estimates, which is above the peer industry average of 25.7X, and at 17.7X on a trailing cash flow basis compared to the peer group's average of 16.1X [6] Zacks Rank - Tetra currently holds a Zacks Rank of 2 (Buy) due to rising earnings estimates, meeting the criteria for investors looking for stocks with a Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, suggesting potential for further gains [7] Industry Comparison - The Engineering - R and D Services industry is positioned in the top 22% of all industries, indicating favorable conditions for Tetra and its peer, Fluor Corporation (FLR), which also has a Zacks Rank of 2 (Buy) and strong earnings performance [10]

Revenue Performance - For Q1 fiscal 2026, revenue declined 14.8% to $1.21 billion compared to $1.42 billion in Q1 fiscal 2025, primarily due to fewer international development projects and lower disaster response activity [125]. - U.S. federal government revenue decreased by 45.7% to $272.6 million, largely due to the cancellation of 83% of USAID programs, resulting in a significant drop in contracts [127]. - U.S. state and local government revenue fell 15.5% to $171.5 million, attributed to decreased disaster response activity, although excluding this, revenue increased by 10.3% due to investments in municipal water infrastructure [128]. - International revenue grew by 12.3% to $541.2 million, reflecting strong performance in non-U.S. markets [126]. - The percentage of revenue from U.S. federal government clients dropped to 22.5% from 35.3% year-over-year, while international revenue increased to 44.7% from 33.9% [112]. - The Government Services Group (GSG) segment accounted for 43.4% of total revenue, down from 55.7%, while the Commercial/International Services Group (CIG) segment rose to 58.2% from 45.4% [115]. - U.S. commercial revenue declined by 3.5% to $225,352,000 in Q1 fiscal 2026, primarily due to lower renewable energy activity [129]. - International revenue increased by 12.3% to $541,240,000, driven by digital water projects, with a 3.5% increase excluding acquisitions [130]. - Consolidated revenue decreased by 14.8% to $1,210,663,000, with revenue net of subcontractor costs down 13.4% to $1,037,176,000 [132]. - Government Services Group revenue fell by 33.6% to $525,508,000, largely due to contract cancellations with USAID [140]. - Commercial/International Group revenue rose by 9.2% to $704,178,000, with a 10.0% increase in revenue net of subcontractor costs [143]. Income and Earnings - Income from operations surged by 525.9% to $140,994,000, reflecting improved project execution and reduced legal contingency costs [132]. - Net income attributable to Tetra Tech reached $105,028,000, a significant increase from $747,000 in the prior year [132]. - Diluted earnings per share (EPS) was $0.40, compared to no earnings per share reported in the previous year [132]. - The effective tax rate for Q1 fiscal 2026 was 25.7%, significantly lower than 94.9% in the prior year [137]. Cash Flow and Financial Position - The company had $269.4 million in cash and cash equivalents and access to an additional $929.3 million in borrowings under its credit facility as of December 28, 2025 [147]. - Cash generated from operations in the first quarter of fiscal 2026 was $72.3 million, a 453.2% increase compared to the same quarter last year [148]. - The company reported a net increase in cash of $101.1 million for the first quarter of fiscal 2026, reflecting a 555.7% increase compared to the previous year [148]. - The company had $53.8 million in liabilities for income taxes associated with uncertain tax positions as of December 28, 2025 [163]. Debt and Financing - The company issued $575.0 million in Convertible Notes on August 22, 2023, with net proceeds of $560.5 million used to pay down existing debt [152]. - At December 28, 2025, the company had $270 million in outstanding borrowings under its Amended Credit Agreement, with a weighted-average interest rate of 5.25% [155]. - The company maintained a consolidated leverage ratio of 1.24x and a consolidated interest coverage ratio of 17.31x, in compliance with its credit agreement covenants [156]. - The applicable margin for borrowing under the Amended Revolving Credit Facility ranges from 1.000% to 1.750% per annum, based on the Consolidated Leverage Ratio [170]. - The Amended Credit Agreement expires on May 5, 2030, or earlier at the company's discretion upon payment in full of loans and other obligations [170]. Strategic Growth and Acquisitions - Recent acquisitions contributed approximately $40 million to revenue in Q1 fiscal 2026, with no comparable revenue from the previous year [125]. - The company plans to continue evaluating acquisition opportunities to enhance strategic growth and expand service offerings [119]. Foreign Exchange and Risk Management - The company is exposed to interest rate risk and foreign currency transaction and translation risk, primarily related to the Canadian and Australian dollars, the Euro, and the British Pound [169]. - The company attempts to minimize currency exposure by matching revenue and expenses in the same currency for contracts [171]. - For the first quarter of fiscal 2026, the company reported a foreign currency loss of $1.2 million compared to an immaterial amount in the prior year period [171]. - The effect of foreign exchange rate translation on the consolidated balance sheet for the first quarter of fiscal 2026 resulted in an increase in equity of $19.7 million, compared to a decrease of $108.8 million in the prior-year period [172]. - The company believes inflation will not materially affect its operations due to the average duration of projects and the ability to negotiate prices [158].

Core Insights - Tetra Tech, Inc. (TTEK) reported adjusted earnings of 35 cents per share for Q1 fiscal 2026, exceeding the Zacks Consensus Estimate of 31 cents and management's guidance of 30-33 cents, while matching the year-ago figure [1][9] Revenue & Segmental Performance - Tetra Tech generated revenues of $1.21 billion, a year-over-year decrease of 14.8%, but surpassed management's guidance of $950 million-$1.0 billion and the Zacks Consensus Estimate of $973 million [2] - Adjusted net revenues were $1.04 billion, down 13.4% year over year [2] - The backlog at the end of Q1 was $3.95 billion, down 27.3% year over year [3] - Revenues from U.S. Federal customers increased by 7% year over year, while U.S. Commercial sales decreased by 3% [4] - U.S. State and Local sales rose by 10% year over year, and International sales increased by 13% year over year [5] - Government Services Group segment revenues were $432.1 million, down 33.2% year over year, while Commercial/International Services Group segment revenues were $605.1 million, up 10% year over year [5] Margin Profile - Subcontractor costs totaled $173.5 million, down 22.3% year over year, while other adjusted costs of revenues were $816.8 million, down 16.3% [6] - Adjusted operating income decreased by 2.7% year over year to $133.5 million, with an adjusted margin increase of 140 basis points to 12.9% [7] Balance Sheet and Cash Flow - Cash and cash equivalents at the end of Q1 were $269.4 million, up from $167.5 million at the end of fiscal 2025, while long-term debt increased to $834.3 million from $763.4 million [8] - Net cash generated from operating activities was $72.3 million, compared to $13.1 million in the prior year [10] Shareholder-Friendly Policies - Tetra Tech distributed dividends totaling $16.9 million in Q1 fiscal 2026, an increase from $15.5 million in the previous year, and repurchased shares worth $50 million, up from $25 million [11] Fiscal 2026 Outlook - For fiscal 2026, Tetra Tech anticipates net revenues in the range of $4.15-$4.30 billion, higher than the previous projection of $4.05-$4.25 billion, but lower than the $4.62 billion reported in fiscal 2025 [12] - Adjusted earnings are projected to be $1.46-$1.56 per share, compared to the previous guidance of $1.40-$1.55 [12] - For Q2 fiscal 2026, management estimates net revenues of $975 million-$1.025 billion and adjusted earnings of 30-33 cents per share [13]

Financial Data and Key Metrics Changes - The company reported net revenue of $987 million for the first quarter, an increase of 8% from the prior year [5] - Operating income rose to $131 million, up 12% year-over-year [5] - Adjusted earnings per share (EPS) increased by 17% to $0.34, while GAAP EPS was reported at $0.40 [5][6] Business Segment Performance - The Government Services segment generated $382 million in revenue, growing 5% despite a U.S. government shutdown [6] - The Commercial and International Group segment's revenue increased by 10% to $605 million, driven by growth in the UK and Ireland [6][7] - Margins for both segments improved by 40 basis points, with Government Services at 18% and Commercial International at 13% [6][7] Market Data and Key Metrics Changes - Federal work increased by 7%, primarily due to projects with the U.S. Army Corps of Engineers [8] - State and local markets in the U.S. grew by 10%, driven by municipal water treatment initiatives [8] - International revenue accounted for 48% of total revenue, growing at a rate of 13%, with significant contributions from the UK and Ireland [9] Company Strategy and Industry Competition - The company focuses on water supply, treatment, flood control, and environmental stewardship, which are in high demand [3] - Strategic growth areas include technology and automation, with plans for acquisitions to enhance capabilities in defense and environmental services [18][25] - The company aims to leverage its strong balance sheet for future acquisitions, targeting firms that can enhance its market position [70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue growth despite challenges like the government shutdown, anticipating increased federal orders as budget clarity improves [10][11] - The company expects international growth to continue at a rate of 5%-10%, supported by water programs and defense spending [27] - Guidance for the second quarter is set at $975 million to $1.025 billion in net revenue, with adjusted EPS of $0.30 to $0.33 [29] Other Important Information - The company announced a 12% increase in its quarterly cash dividend, marking the 47th consecutive dividend payment [18] - A stock buyback program was initiated, with $50 million repurchased in the first quarter [19] - The company divested its Norway operation, which was deemed non-core, prior to Christmas [82] Q&A Session Summary Question: Strength in Federal Business - Management highlighted that the federal business grew 7% due to advanced planning and strong relationships with clients, particularly the U.S. Army Corps of Engineers [37][40] Question: International Business Performance - The UK and Ireland have shown strong double-digit growth, while Canada is recovering and Australia is stabilizing after previous declines [41][46][48] Question: Guidance and Market Conditions - Management discussed the potential impact of a government shutdown on guidance, noting that while it could affect the lower end, essential services would likely continue [59][61] Question: Focus on M&A - The company is looking to leverage its strong balance sheet for strategic acquisitions, with a focus on larger, transformative opportunities [67][70] Question: Details on Recent Acquisitions - Recent acquisitions include Halvik and Providence, which are expected to enhance the company's capabilities in defense and consulting [79][81]

Financial Data and Key Metrics Changes - Tetra Tech reported net revenue of $987 million for Q1 2026, an 8% increase from the prior year [5] - Operating income rose to $131 million, up 12% year-over-year [5] - Adjusted earnings per share (EPS) increased by 17% to $0.34, while GAAP EPS was reported at $0.40 [5][6] - Margins expanded by 140 basis points on a GAAP basis [4] Business Segment Data and Key Metrics Changes - The Government Services segment generated $382 million in revenue, a 5% increase, with margins of 18%, up 40 basis points [6] - The Commercial and International Group segment's revenue grew by 10% to $605 million, with margins also up 40 basis points to 13% [6][7] Market Data and Key Metrics Changes - Federal work increased by 7%, primarily driven by projects with the U.S. Army Corps of Engineers [7] - U.S. state and local markets grew by 10%, particularly in water treatment and digital water modernization [8] - International revenue accounted for 48% of total revenue, growing at a rate of 13%, with significant contributions from the U.K. and Ireland [9] Company Strategy and Development Direction - Tetra Tech focuses on water supply, treatment, flood control, and environmental stewardship, which remain in high demand [3] - The company aims to enhance its market position through strategic acquisitions and investments in technology and automation [18][25] - Recent acquisitions include Halvik and Providence, aimed at expanding consulting services in defense [25][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue growth despite challenges such as the U.S. government shutdown [3] - The company anticipates increased federal orders as clarity on budgets improves [10] - Guidance for Q2 2026 is set between $975 million and $1.025 billion, with full-year revenue guidance of $4.15 billion to $4.3 billion [29][30] Other Important Information - Tetra Tech's board approved a 12% increase in the quarterly cash dividend, marking the 47th consecutive quarterly dividend [18] - The company has a strong balance sheet with net debt at approximately $565 million, allowing for significant liquidity for future investments [15][17] Q&A Session Summary Question: Strength in Federal Business - Management noted a 7% growth in federal business, primarily due to advanced planning and strong relationships with clients like the U.S. Army Corps of Engineers [37][40] Question: International Business Performance - The U.K. and Ireland have shown strong double-digit growth, while Canada is performing well with upper single-digit growth. Australia is recovering from previous declines [41][46][48] Question: Guidance and Market Conditions - Management discussed the range of potential outcomes in guidance, considering factors like potential government shutdowns and bipartisan support for funding [58][60][64] Question: Focus on M&A - The company is looking to leverage its strong balance sheet for strategic acquisitions, with a focus on larger, transformative opportunities [66][70] Question: Recent Divestitures - Tetra Tech divested its Norway operation, which was deemed non-core, and provided details on the acquisition of Halvik and Providence [82]

Financial Data and Key Metrics Changes - The company reported net revenue of $987 million for the first quarter, an increase of 8% from the prior year [5] - Operating income rose to $131 million, up 12% year-over-year [5] - Adjusted earnings per share (EPS) increased by 17% to $0.34, while GAAP EPS was reported at $0.40 [5][12] Business Segment Performance - The Government Services segment generated $382 million in revenue, growing 5% despite a U.S. government shutdown [6] - The Commercial and International Group segment's revenue increased by 10% to $605 million, driven by growth in the UK and Ireland [6][7] - Margins for both segments improved by 40 basis points, with Government Services at 18% and Commercial International at 13% [6][7] Market Data and Key Metrics Changes - Federal work increased by 7%, primarily due to projects with the U.S. Army Corps of Engineers [8] - U.S. state and local markets grew by 10%, driven by municipal water treatment and digital water modernization [8] - International work accounted for 48% of total revenues, growing at a rate of 13% [9] Company Strategy and Industry Competition - The company focuses on water supply, treatment, flood control, and environmental stewardship, which remain in high demand [3] - Strategic growth areas include technology and automation, with plans for acquisitions to enhance capabilities [17][24] - The company aims to leverage its strong balance sheet for investments in growth opportunities [16][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue growth despite challenges like the government shutdown, expecting federal orders to increase in the second half of the fiscal year [10][11] - The company anticipates continued strong demand in water and environmental services, with a forecasted revenue growth rate of 5%-10% for international markets [25][26] - Management highlighted the importance of bipartisan support for future growth, particularly in federal spending [59] Other Important Information - The company announced a 12% increase in its quarterly cash dividend, marking the 47th consecutive quarterly dividend [17] - A stock buyback program was initiated, with $50 million repurchased in the first quarter [18] - The company divested its Norway operation, which was deemed non-core, while acquiring Halvik and Providence to enhance its consulting services [77][80] Q&A Session Summary Question: Strength in Federal Business - Management noted that the 7% growth in federal business was supported by advanced planning and strong relationships with clients, particularly the U.S. Army Corps of Engineers [35][38] Question: International Business Performance - The UK and Ireland have shown strong double-digit growth, while Canada is performing well with significant infrastructure investments [40][42] - Australia is recovering from previous declines, moving from -15% growth to flat performance [44][46] Question: Guidance and Market Conditions - Management indicated that guidance reflects a midpoint of 9% revenue growth, with potential risks from government shutdowns impacting the low end of the range [56][58] Question: M&A Focus and Strategy - The company is looking for strategic acquisitions that could justify higher leverage, with a focus on partnerships that transform the industry [65][66] - Management emphasized the importance of maintaining shareholder value while pursuing growth through acquisitions [72][74]