Tetra Tech, Inc. (NASDAQ:TTEK) Q4 2023 Earnings Conference Call November 16, 2023 11:00 AM ET Company Participants Dan Batrack - Chairman and CEO Steve Burdick - Chief Financial Officer Jill Hudkins - President Conference Call Participants Tate Sullivan - Maxim Group Andrew Wittmann - Baird Ryan Connors - Northcoast Research Michael Dudas - Vertical Research Partners Operator Good morning. And thank you for joining the Tetra Tech Earnings Call. As a reminder, Tetra Tech is also simulcasting this presentatio ...

EARNINGS CALL Q4-23November 16, 2023 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 All statements in this communication other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, ...

Financial Data and Key Metrics Changes - Revenue increased by 36% year-over-year, from $890 million to $1.21 billion [6] - EBITDA income rose by 33% year-over-year, reaching a record high of $119 million [6] - Backlog increased to a new high of $4.39 billion, up 25% from last year [6][9] - Legacy Tetra Tech's revenue without RPS was $989 million, up 11% year-over-year [6] - Earnings per share increased by 19% from the prior year [6] Business Line Data and Key Metrics Changes - Government Services Group (GSG) segment grew by 16% year-over-year, with margins increasing to 14% [8] - Commercial/International Group (CIG) segment grew by 55% year-over-year, primarily due to the addition of RPS [8] - U.S. federal client work increased by 30%, driven by growth in water and environmental programs [6] - State and local revenues were up 16% year-over-year, excluding extraordinary disaster response programs [7] - U.S. commercial net revenues increased by 22% year-over-year, driven by renewable energy and environmental assessments [7] Market Data and Key Metrics Changes - International revenue, primarily driven by RPS, increased by 68% year-over-year [7] - Significant new contract capacity awarded in the U.S. and the U.K. for water programs [9][10] Company Strategy and Development Direction - The company is focused on leveraging revenue synergies from the RPS Group and increasing funding from U.S. federal stimulus programs [3][15] - Tetra Tech Delta technologies are being utilized to enhance profit margins without increasing headcount [4][5] - The company aims to increase EBITDA margins from RPS from under 5% in fiscal 2022 to over 13% by fiscal 2025 [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong demand for services in water, environment, and sustainable infrastructure [22] - The integration of RPS is exceeding expectations, contributing to a robust pipeline of opportunities [22][23] - The company anticipates continued growth driven by federal funding and climate change commitments [23] Other Important Information - Cash flows from operations totaled $133 million, up 35% year-over-year [10] - The company paid out $14 million in dividends, marking the 37th consecutive quarterly dividend [11] - The net leverage multiple was approximately 1.6, with expectations to reduce it to about 1.4 by year-end [14] Q&A Session Summary Question: What is driving the momentum in the quarter? - Management noted broad-based performance across all end markets, with no single unusual contributor driving the results [24][26] Question: Can the current pace of growth be sustained? - Management indicated strong backlog growth and mid-teens organic growth, suggesting sustainability in growth [30][31] Question: What is driving better-than-expected results from RPS? - The strong workforce and cultural alignment between RPS and Tetra Tech were highlighted as key factors [32][33] Question: Can you elaborate on Tetra Tech Delta? - Tetra Tech Delta encompasses various tools that enhance project efficiency and margins, with significant growth potential [38][40] Question: Are margins in the backlog improving? - Management confirmed that embedded operating margins in the backlog are tending higher due to pricing power and a shift to higher-end work [46][47]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 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 July 2, 2023 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 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 April 2, 2023 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) (State or other jurisdiction of incorporation or orga ...

Financial Data and Key Metrics Changes - Revenue for Q2 2023 exceeded $1 billion for the first time, reaching $970 million, a 39% increase year-over-year from $700 million [5][6] - EBITDA income increased by 30% year-over-year, reaching a record $105 million for the second quarter [5] - Earnings per share (EPS) rose to $1.17, up 19% from the previous year [5][6] - Without the contribution of RPS, revenue was $989 million, a 16% increase year-over-year, with EPS of $1.20, up 22% [6] Performance by Business Lines - U.S. federal client work increased by 59%, driven by growth in water and environmental programs, including support for Ukraine [7] - State and local revenues grew by 12%, supported by digital water and municipal infrastructure projects [7] - International revenues increased by 55%, with a growth of 11% excluding RPS, driven by high-performance buildings work in Canada, Australia, and the UK [7] - Government Services Group (GSG) segment grew by 29%, with a significant contribution from Ukraine-related work [8] - Commercial/International Group (CIG) segment grew by 47%, with a 13% increase excluding RPS, driven by renewable energy programs [9] Market Data and Key Metrics Changes - Backlog increased by 18% year-over-year, reaching an all-time high of $4.275 billion [9] - New contracts included a $105 million U.S. Watershed Assessment Contract and a $54 million disaster planning contract in Puerto Rico [10] Company Strategy and Industry Competition - The company is focused on integrating RPS to improve profit margins and align them with Tetra Tech's margins [12][13] - Tetra Tech aims to leverage its expertise in sustainable infrastructure and renewable energy to drive future growth [27] - The company has been recognized as a leader in water and environmental management, ranking number one in various categories by Engineering News Record [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underlying business performance, with growth rates exceeding expectations across all end markets [29] - The company anticipates continued strong demand for its services, particularly in light of upcoming federal funding initiatives [31][62] - Management noted that the integration of RPS is exceeding expectations and creating new opportunities [27] Other Important Information - Cash flows from operations totaled $108 million, up 13% year-over-year, with a Days Sales Outstanding (DSO) of 59 days [11] - The quarterly dividend was increased to $0.26 per share, marking the ninth consecutive year of double-digit increases [11] Q&A Session Summary Question: Insights on RPS accretion targets and underlying Tetra Tech earnings growth - Management highlighted strong underlying performance with revenue growth in the 20% range, driven by federal funding initiatives [29][30] Question: Margin expectations and cash conversion trends - Management expects margin expansion in both Commercial/International and Government Services segments, with cash from operations exceeding net income [35][36] Question: RPS EBITDA margin targets and backlog contributions - RPS is expected to align its EBITDA margins with Tetra Tech's by 2025, with a stable backlog performance noted [37][53] Question: Impact of interest rates on commercial business - Management indicated that about half of commercial work is driven by regulatory requirements, which are less sensitive to interest rate fluctuations [44][46] Question: Future growth prospects and backlog contributions - Management sees potential for significant contributions from federal government funding, particularly in decarbonization and clean water initiatives [61][62]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 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 1, 2023 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 ...

Tetra Tech, Inc. (NASDAQ:TTEK) Q1 2023 Earnings Conference Call February 2, 2023 11:00 AM ET Company Participants Dan Batrack - Chairman & Chief Executive Officer Steve Burdick - Chief Financial Officer Jill Hudkins - President Conference Call Participants Noelle Dilts - Stifel Andy Wittmann - Baird Alex Dwyer - KeyBanc Tate Sullivan - Maxim Group Michael Dudas - Vertical Research Operator Good morning and thank you for joining the Tetra Tech Earnings Call. As a reminder, Tetra Tech is also simulcasting thi ...

EARNINGS CALL Q1-23February 2, 2023 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 All statements in this communication other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, s ...

Tetra Tech, Inc. (NASDAQ:TTEK) Q4 2022 Results Conference Call November 10, 2022 10:00 AM ET Company Participants Dan Batrack - Chairman and Chief Executive Officer Steven Burdick - Chief Financial Officer Jill Hudkins - President Conference Call Participants Sean Eastman - KeyBanc Tate Sullivan - Maxim Group Andrew Wittmann - Baird Michael Dudas - Vertical Research Partners Operator Good morning and thank you for joining the Tetra Tech Earnings Call. As a reminder, Tetra Tech is also simulcasting this pres ...