(626) 351-4664 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended October 2, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number 0-19655 __________________________________________ ...

Financial Data and Key Metrics Changes - The company achieved record revenue of $3.5 billion for fiscal year 2022, up 9% from the previous year, and record net revenue of $2.84 billion, up 11% year-over-year [19] - Fourth quarter net revenue reached an all-time high of $736 million, a 12% increase from the same quarter last year, with operating income of $94 million, resulting in earnings per share of $1.26, up 30% year-over-year [11][19] - The backlog increased to an all-time high of $3.74 billion, representing an 8% increase from last year [16] Performance by Business Lines - Government Services Group (GSG) revenue was $336 million, up 8% year-over-year, with a margin of 15.1%, an increase of 130 basis points [14] - The Commercial/International Group (CIG) grew by 15% year-over-year, delivering a margin of 13.6%, up 80 basis points [15] - U.S. federal client revenue accounted for 29% of total revenue, increasing by 15% year-over-year, while U.S. commercial net revenue was up 25% [12][13] Market Data and Key Metrics Changes - International revenues increased by 15% on a constant currency basis, driven by sustainable infrastructure programs in Australia, the UK, and Canada [13] - The company reported strong demand for services aligned with climate change priorities across government and commercial clients [7] Company Strategy and Development Direction - The company is focused on water, environment, and sustainable infrastructure, leveraging its "Leading with Science" approach [6] - The strategic acquisition of RPS Group is expected to enhance capabilities in water management and expand geographic reach [48][50] - The company anticipates growth driven by recent legislative actions, including the Infrastructure Investment and Jobs Act, CHIPS Act, and Inflation Reduction Act [34][39] Management's Comments on Operating Environment and Future Outlook - Management expects U.S. federal revenue to grow by about 10% in alignment with government priorities, with state and local revenues projected to grow at a double-digit pace [43][44] - The company is optimistic about the impact of new funding from the Infrastructure Investment and Jobs Act, expecting new orders to ramp up in the second half of fiscal year 2023 [35][36] - Management noted that the Inflation Reduction Act may have the longest lag in terms of impact, with contributions expected in fiscal year 2024 [98] Other Important Information - The company paid out $46 million in dividends in fiscal 2022, with a 15% increase in the quarterly dividend to $0.23 per share [25] - The company returned $246 million to shareholders through dividends and share buybacks, achieving a total shareholder return of 54% over the last three years [26] Q&A Session Summary Question: Why is there no material contribution from IIJA funding in fiscal '23 guidance? - Management explained that funding flows through a sequence of steps, with solicitations for contracts occurring before revenue recognition, leading to a slow ramp-up in fiscal year 2023 [56][58][62] Question: What are the margin enhancement expectations from the RPS acquisition? - Management indicated that RPS historically had higher margins than Tetra Tech and expects to achieve double-digit margins within the first year post-acquisition [63][68] Question: Is RPS seen as a platform for further international acquisitions? - Management confirmed that RPS will provide a foothold for additional bolt-on acquisitions in international markets, particularly in the UK and Australia [80][84] Question: What is the expected financial profile post-RPS acquisition? - Management stated that they aim to maintain leverage between 1 to 2 times earnings and prioritize internal growth and acquisitions over buybacks [108][109]

EARNINGS CALL Q4-22November 10, 2022 Dan Batrack, Chairman & CEO Steve Burdick, Executive VP & CFO Jill Hudkins, President WATER ENVIRONMENT SUSTAINABLE INFRASTRUCTURE Leading with Science® Forward Looking Statements & Non-GAAP Financial Measures Certain statements contained in this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, such as those related to fluctuations in the Company's qua ...

Financial Data and Key Metrics Changes - Tetra Tech reported record third quarter revenue, net revenue, operating income, and earnings per share, with net revenue increasing 13% year-over-year from $638 million to $720 million [11][22] - Operating income rose 20% year-over-year to $84 million, reflecting a 70 basis point increase in operating margin [8][23] - Earnings per share reached $1.09, up 15% from $0.95 last year, marking a new all-time high for the third quarter [12][24] Business Line Data and Key Metrics Changes - The Commercial International Group (CIG) segment grew by 19% year-over-year, achieving a margin of 13.8%, up 230 basis points from the prior year [17] - The Government Services Group (GSG) segment grew by 6% with a margin of 13.4%, consistent with the expected range [19] - U.S. commercial net revenue was up 19% year-over-year, contributing to strong growth in environmental permitting and renewable energy services [15] Market Data and Key Metrics Changes - International revenue represented 35% of total revenue, increasing 18% year-over-year, and 26% on a constant currency basis [13] - State and local revenues were up 10%, marking the seventh consecutive quarter of double-digit growth [14] - Federal client work represented 27% of net revenues, up 8% year-over-year, excluding the impact of the Afghanistan wind-down [16] Company Strategy and Development Direction - Tetra Tech's strategy focuses on providing high-end services in water and environmental markets, addressing climate change and increasing resiliency [9][41] - The company is advancing its digital water growth strategy, expecting to double its digital water practice revenue from $150 million in the next three years [35][36] - Recent acquisitions are aimed at enhancing digital capabilities and expanding service offerings [28][70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the contributions from the Bipartisan Infrastructure Investment and Jobs Act (IIJA) starting in early 2023, alongside other federal funding opportunities [46][51] - There are concerns about slower contract activity due to personnel challenges within government agencies, impacting growth [55][56] - Management anticipates continued growth in federal revenues, despite a slower ramp-up compared to historical trends [58][60] Other Important Information - The company has a strong cash position of over $200 million and a net debt to EBITDA leverage of 0.1x [26] - Tetra Tech has returned $184 million to shareholders through dividends and share buybacks year-to-date [30][29] - The company has a backlog of $3.65 billion, up 12% year-over-year on a constant currency basis [20] Q&A Session Summary Question: Insights on fiscal '23 growth rates and considerations - Management noted positive indications for growth in fiscal '23, particularly from IIJA and other federal funding programs, while acknowledging potential foreign exchange impacts [45][46][54] Question: Impact of slow new award activity on growth - Management confirmed a slight slowdown in contract activity across federal agencies, attributing it to COVID-related personnel challenges [55][56][58] Question: Convergence of GSG and CIG margins - Management indicated that CIG margins are expected to converge with GSG margins without a decline in GSG, with both segments showing strength [62][64] Question: Update on Software-as-a-Service and Platform-as-a-Service offerings - Management highlighted progress in Platform-as-a-Service offerings, with recent acquisitions supporting subscription-based revenue growth [66][70] Question: Details on the $500 million Army Corps of Engineers contract - Management clarified that the contract is new and not a renewal, with initial task orders expected to be funded in Q4 [75][79]

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 3, 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-19655 TETRA TECH, INC. (Exact name of registrant as specified in its charter) Delaware 95-4148514 (State or other jurisdiction of in ...

Investor Presentation June 2022 WATER ENVIRONMENT SUSTAINABLE INFRASTRUCTURE Leading with Science® Forward Looking Statements & Non-GAAP Financial Measures Certain statements contained in this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, such as those related to fluctuations in the Company's quarterly operating results and stock price, and the other risks detailed from time to time in ...

Q2-22 Financial Performance - Net revenue increased by 17% year-over-year, from $600 million in Q2-21 to $700 million in Q2-22 [6, 22] - Operating income increased by 23% year-over-year, from $61 million in Q2-21 to $75 million in Q2-22 [8] - Earnings per share (EPS) increased by 18% year-over-year, from $0.83 in Q2-21 to $0.98 in Q2-22 [9, 23] - Revenue increased by 13% year-over-year, from $755 million in Q2-21 to $853 million in Q2-22 [20] Segment Performance (Q2-22) - GSG (Government Services Group) net revenue was $338 million, a 9% increase from $310 million in Q2-21, with an operating income (OI) margin of 14.9% [12] - CIG (Commercial/International Group) net revenue was $362 million, a 25% increase from $289 million in Q2-21, with an OI margin of 11.2% [12] Revenue by Customer (Q2-22) - U S State and Local revenue increased 29% year-over-year and accounted for 34% of net revenue [11] - U S Federal revenue increased 2% year-over-year and accounted for 27% of net revenue [11] Cash Flow and Capital Allocation - Cash flow from operations year-to-date (YTD) was $178 million, a 13% increase year-over-year [26] - The company had $61 million in dividends and buybacks in Q2-22 [29] - The company has over $1 billion available from a sustainability-linked credit facility [29] Fiscal 2022 Outlook - The company expects U S Federal revenue to increase by 5% to 10% year-over-year [36] - The company expects U S State & Local revenue to increase by 10% to 15% year-over-year [36] - The company expects net revenue for Q3-22 to be between $665 million and $715 million, and EPS to be between $1.00 and $1.05 [40] - The company expects net revenue for FY-22 to be between $2.72 billion and $2.82 billion, and EPS to be between $4.30 and $4.40 [40]

Financial Data and Key Metrics Changes - The company achieved record second quarter revenue, net revenue, and operating income, with net revenue increasing 17% year-over-year from $600 million to $700 million [9] - Operating income rose 23% year-over-year, reaching a record $75 million, while earnings per share increased 18% to $0.98 [9][19] - Cash flows from operations totaled $95 million for the quarter, with year-to-date cash from operations amounting to $178 million, a 13% increase from the previous year [21] Business Line Data and Key Metrics Changes - The Commercial/International Group (CIG) grew by 25% year-on-year, with a margin increase of 50 basis points [13] - The Government Services Group (GSG) expanded its net revenue by 9% in the quarter, achieving a margin of 14.9%, an increase of 150 basis points [14][19] - U.S. commercial net revenue was up 14% year-over-year, while state and local revenues increased by 25% [11][12] Market Data and Key Metrics Changes - International net revenue grew by 29%, driven by sustainable infrastructure programs in Canada, Australia, and the UK [10] - The U.S. federal government work remained stable, accounting for 27% of net revenue, with a 7% year-over-year growth when excluding the Afghanistan wind-down impact [12] Company Strategy and Development Direction - The company focuses on high-end differentiated services in water and environmental markets, addressing climate change and resiliency challenges [5][28] - Recent acquisitions, including Piteau Associates and Axiom Data Science, aim to enhance capabilities in hydraulic modeling and big data analysis [31][32] - The company anticipates continued growth in state and local markets, supported by federal funding from the Infrastructure Investment and Jobs Act [78] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong growth rates, projecting double-digit growth for the remainder of the year [42] - The company expects to see increased demand for consulting and engineering services due to new federal budgets and climate change programs [28][29] - Management highlighted the importance of technology in enhancing productivity and reducing reliance on headcount for revenue growth [57][59] Other Important Information - The company reported a backlog of $3.61 billion, up 15% year-over-year, indicating strong future revenue potential [15] - A dividend of $0.23 per share was announced, representing a 15% increase over the previous year [24] Q&A Session Summary Question: Context on growth rate adjustments for the second half - Management clarified that the extra week in the fourth quarter impacts growth comparisons, but growth rates are expected to remain strong [41][42] Question: Durability of commercial growth amid recession concerns - Management indicated that commercial growth is broad-based and less vulnerable to economic downturns due to reduced exposure to volatile sectors like oil and gas [44][47] Question: Growth rate and margin expectations for segments - Management expects continued margin expansion in both CIG and GSG, with higher margins anticipated in the upcoming quarters [50][52] Question: Employee attrition and retention - Management reported a voluntary turnover rate of just under 10%, with a very low turnover rate for employees with over five years of service [70][74] Question: Impact of Afghanistan-related revenues - Minimal revenues were recognized from Afghanistan, with an expected headwind of $8 million to $10 million per quarter in 2022 due to the withdrawal [80]

Revenue Growth - Revenue increased by 12.6% in the first half of fiscal 2022 compared to the prior-year period, driven by increased activity with U.S. state and local government clients and commercial clients [114]. - U.S. state and local government revenue rose by 23.7% in the first half of fiscal 2022, particularly from municipal water infrastructure projects in California, Texas, and Florida [115]. - U.S. federal government revenue decreased by 2.5% in the first half of fiscal 2022, primarily due to reduced international development activity, especially in Afghanistan [116]. - U.S. commercial revenue increased by 15.6% in the first half of fiscal 2022, attributed to more activity on environmental programs and high performance buildings [117]. - International revenue increased by 22.7% in the first half of fiscal 2022 compared to the prior-year period, driven by government stimulus spending and sustainability initiatives [118]. - Total revenue for the second quarter of fiscal 2022 was $852.7 million, a 13.0% increase from $754.8 million in the same quarter of the previous year [120]. - Revenue for Q2 fiscal 2022 was $416.9 million, a 24.3% increase from $335.4 million in Q2 fiscal 2021; for the first half, revenue was $833.2 million, up 20.4% from $692.0 million [130]. - For the first half of fiscal 2022, revenue increased by $191.4 million, or 12.6%, compared to the prior-year period [122]. Profitability - Net income for the second quarter of fiscal 2022 was $53.0 million, reflecting a 16.5% increase from $45.5 million in the same quarter of fiscal 2021 [120]. - Diluted earnings per share (EPS) increased to $0.98 in the second quarter of fiscal 2022, up 18.1% from $0.83 in the prior-year period [120]. - Adjusted EPS for the first half of fiscal 2022 was $2.17, reflecting a 21.2% increase from the prior-year period [124]. - Operating income increased by $8.9 million (17.0%) in Q2 and $17.4 million (28.9%) in the first half of fiscal 2022 compared to the prior-year periods [129][132]. - The operating margin improved to 15.3% in the first half of fiscal 2022 from 13.7% in fiscal 2021; excluding ERCs, the margin was 14.8% [129]. Segment Performance - The Government Services Group (GSG) accounted for 52.6% of revenue in the three months ended April 3, 2022, while the Commercial/International Services Group (CIG) accounted for 48.9% [106]. - The Government Services Group (GSG) segment reported revenue of $448.9 million in the second quarter of fiscal 2022, a 3.8% increase from $432.6 million in the same quarter of fiscal 2021 [128]. - The Commercial/International Services Group (CIG) segment's revenue increased by $81.5 million, or 24.3%, in the second quarter of fiscal 2022 compared to the same quarter of fiscal 2021 [120]. Cash Flow and Financial Position - The company generated $177.5 million in cash from operations in the first half of fiscal 2022, an increase of $20.1 million compared to the prior-year period [141]. - As of April 3, 2022, the company had $194.4 million in cash and cash equivalents and access to an additional $799.3 million in borrowings under its credit facility [134]. - The company had $250.0 million in outstanding borrowings under the Amended Credit Agreement as of April 3, 2022, with a year-to-date weighted-average interest rate of 1.27% [146]. - The company maintained a consolidated leverage ratio of 0.82x and a consolidated interest coverage ratio of 28.09x as of April 3, 2022, in compliance with its credit agreement covenants [147]. - The company repurchased 618,236 shares at an average price of $161.75 per share for a total cost of $100.0 million in the first half of fiscal 2022 [137]. Tax and Interest Rates - The effective tax rate for the first half of fiscal 2022 was 21.9%, compared to 19.2% in the first half of fiscal 2021 [126]. - The company is exposed to interest rate risk under its Amended Credit Agreement, with borrowing options based on a benchmark rate plus a margin ranging from 1.000% to 1.875% per annum [160]. - The notional principal of the company's outstanding interest rate swap agreements was $206.3 million, with an average effective interest rate of 3.50% on borrowings [161]. Foreign Currency and International Business - For the first half of fiscal 2022, 30.8% of the company's consolidated revenue was generated by international business, compared to 28.3% in the first half of fiscal 2021 [164]. - The effect of foreign exchange rate translation on the consolidated balance sheets for the first half of fiscal 2022 resulted in an increase in equity by $2.1 million, compared to an increase of $43.4 million in the first half of fiscal 2021 [164]. - The company reported $1.3 million of foreign currency losses in the first half of fiscal 2021, while the impact for the first half of fiscal 2022 was immaterial [163]. Strategic Focus - The company continuously evaluates acquisition opportunities to strengthen its market leadership and expand service offerings [110]. - The company remains focused on providing high-end consulting and engineering services, leveraging advanced analytics, artificial intelligence, and digital technology solutions [98]. - The company utilizes off-balance sheet arrangements, including letters of credit and bank guarantees, to support project performance and insurance programs [155]. - The company has entered into various agreements related to unconsolidated subsidiaries and joint ventures, where it is jointly and severally liable for project execution commitments [156]. - The company does not enter into derivative financial instruments for trading or speculation purposes, focusing instead on managing interest rate and foreign currency transaction risks [159].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 For the transition period from to Commission File Number 0-19655 TETRA TECH, INC. (Exact name of registrant as specified in its charter) FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 2, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 95-4148514 (State or other jurisdiction of ...