Tetra Tech(US:TTEK)2022-02-04 06:17Q1-22 Financial Performance - Net revenue increased by 12% from $605 million in Q1-21 to $679 million in Q1-22[6] - Operating income increased by 25% from $66 million in Q1-21 to $83 million in Q1-22 (adjusted basis)[8, 10] - Earnings per share (EPS) increased by 24% from $0.96 in Q1-21 to $1.19 in Q1-22 (adjusted basis)[9, 10] - GAAP Revenue increased by 12% Y/Y from $765 million to $859 million[19] - GAAP Operating Income increased by 32% Y/Y from $66 million to $87 million[20] - GAAP Diluted EPS increased by 30% Y/Y from $0.96 to $1.25[20] Revenue Breakdown by Customer (Q1-22) - U S State and Local net revenue accounted for 18% of total net revenue, with a 29% year-over-year increase[12] - U S Commercial net revenue accounted for 34% of total net revenue, with a 20% year-over-year increase[12] - International net revenue accounted for 21% of total net revenue, with a 7% year-over-year increase[12] - U S Federal net revenue accounted for 27% of total net revenue, with a 1% year-over-year decrease[12] Performance by Segment (Q1-22) - GSG (Government Services Group) net revenue increased by 7% from $305 million in Q1-21 to $327 million in Q1-22, with an operating income (OI) margin increase of 70 bps to 14 7%[13] - CIG (Commercial/International Group) net revenue increased by 17% from $301 million in Q1-21 to $352 million in Q1-22, with an OI margin increase of 100 bps to 12 5%[13] Backlog and Guidance - The company's backlog was $3 45 billion in Q1-22[15] - Q2-22 net revenue guidance is $620 million - $670 million, and EPS guidance is $0 86 - $0 91[43] - FY-22 net revenue guidance is $2 65 billion - $2 80 billion, and EPS guidance is $4 15 - $4 30[43]