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National Post
30-07-2025
- Business
- National Post
Tetra Tech Reports Strong Third Quarter 2025 Results
Article content PASADENA, Calif. — Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services in water, environment and sustainable infrastructure, today announced results for the third quarter ended June 29, 2025. Article content Third Quarter Highlights (Excluding USAID and DOS) Article content Revenue increased 10% Y/Y to $1.26 billion Net Revenue increased 11% Y/Y to $1.06 billion Operating Income increased 37% Y/Y to $159 million EPS increased 46% Y/Y to $0.41 Backlog $4.15 billion, up Y/Y and sequentially Days sales outstanding: 54 days Article content Year to Date Highlights (Excluding USAID and DOS) Article content Revenue increased 10% Y/Y to $3.56 billion Net Revenue increased 10% Y/Y to $2.99 billion Adjusted Operating Income increased 24% Y/Y to $396 million Adjusted EPS increased 31% Y/Y to $1.01 Article content Recent Key Wins Article content $990 million multiple-award contract for engineering design for NAVFAC Pacific $249 million multiple-award contract for energy resilience for USACE Huntsville District $248 million multiple-award contract for planning and engineering services for USACE Europe District $190 million multiple-award contract for planning and engineering services for USACE Honolulu District $94 million single-award contract for emergency preparedness and response services for U.S. EPA $45 million multiple-award contract for environmental services for U.S. Department of the Interior $22 million single-award contract for disaster recovery services for the State of Georgia $10 million single-award contract for water digital automation systems for Los Angeles County Article content Quarterly Dividend and Share Repurchase Program Article content On July 28, 2025, Tetra Tech's Board of Directors approved the Company's 45 th consecutive quarterly dividend at an amount of $0.065 per share, a 12% increase year-over-year, payable on August 29, 2025, to stockholders of record as of August 15, 2025. In the third quarter, Tetra Tech repurchased $25 million of common stock. Additionally, as of June 29, 2025, the Company had $648 million remaining under the approved share repurchase programs. Article content Chairman and CEO Comments Article content Dan Batrack, Chairman and CEO, commented, 'Tetra Tech delivered another strong quarter with increasing revenue, record operating income, and significant operating margin expansion over the third quarter of last year. This performance is being driven by our high-end water, environmental and sustainable infrastructure services, which includes our clients' increased funding for preparing and responding to natural disasters. Although the financial results for fiscal 2025 to date have exceeded our initial expectations, we are continuing to navigate the near-term financial impacts from the changes in U.S. federal government priorities and the related secondary impacts to our end markets.' Article content Business Outlook Article content The following statements are based on current expectations. These statements are forward-looking, and the actual results could differ materially. These statements do not include the potential impact of transactions that may be completed or developments that become evident after the date of this release. The Business Outlook section should be read in conjunction with the information on forward-looking statements at the end of this release. Article content For fiscal 2025, Tetra Tech expects net revenue 2 to range from $4.454 billion to $4.554 billion and adjusted EPS 3 guidance to range from $1.49 to $1.54. For the fourth quarter of fiscal 2025, Tetra Tech expects net revenue to range from $1.0 billion to $1.1 billion and EPS to range from $0.38 to $0.43. Article content Webcast Article content Investors will have the opportunity to access a live audio-visual webcast and supplemental financial information concerning the third quarter of fiscal 2025 results through a link posted on the Company's website at on July 31, 2025, at 8:00 a.m. (PT). Article content __________________ 1 Non-GAAP financial measures which the Company believes provide valuable perspectives on its business results. The reported adjusted operating income and EPS exclude non-cash goodwill impairment related to USAID in Q2-25 and legal contingency in Q1-25. Refer to tables at the end of the release and Regulation G Information for reconciliations to the comparable GAAP metrics. 2 Reconciliation of the net revenue guidance to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict the magnitude and timing of all the components, including subcontractor costs, required to provide such reconciliation with sufficient precision. 3 The adjustments in our guidance for EPS exclude legal contingency of $0.35 in Q1-25 and goodwill impairment of $0.31 in Q2-25. Article content Reconciliation of GAAP and Non-GAAP Items In thousands (except EPS data) Three Months Ended Nine Months Ended June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Revenue $ 1,369,816 $ 1,344,323 $ 4,112,490 $ 3,824,205 USAID / DOS (106,084 ) (194,753 ) (552,572 ) (577,762 ) Revenue excl. USAID / DOS $ 1,263,732 $ 1,149,570 $ 3,559,918 $ 3,246,443 Revenue $ 1,369,816 $ 1,344,323 $ 4,112,490 $ 3,824,205 Subcontractor costs (216,800 ) (234,742 ) (658,439 ) (646,828 ) Net revenue $ 1,153,016 $ 1,109,581 $ 3,454,051 $ 3,177,377 USAID / DOS (91,305 ) (154,503 ) (464,104 ) (470,294 ) Net revenue excl. USAID / DOS $ 1,061,711 $ 955,078 $ 2,989,947 $ 2,707,083 Operating Income $ 164,986 $ 128,630 $ 227,114 $ 357,395 Legal contingency – – 115,000 – Goodwill impairment – – 92,416 – Contingent consideration (58 ) 500 (2,355 ) 477 Adjusted Operating Income $ 164,928 $ 129,130 $ 432,175 $ 357,872 USAID / DOS (5,492 ) (12,918 ) (36,638 ) (39,434 ) Adjusted OI excl. USAID / DOS $ 159,436 $ 116,212 $ 395,537 $ 318,438 EPS $ 0.43 $ 0.32 $ 0.45 $ 0.88 Legal contingency – – 0.35 – Goodwill impairment – – 0.31 – Adjusted EPS $ 0.43 $ 0.32 $ 1.11 $ 0.88 USAID / DOS (0.02 ) (0.04 ) (0.10 ) (0.11 ) Adj. EPS excl. USAID / DOS $ 0.41 $ 0.28 $ 1.01 $ 0.77 Article content About Tetra Tech Article content Tetra Tech is the leader in water, environment and sustainable infrastructure, providing high-end consulting and engineering services for projects worldwide. With 30,000 employees working together, Tetra Tech provides clear solutions to complex problems by Leading with Science ® to address the entire water cycle, protect and restore the environment, and design sustainable and resilient infrastructure. For more information about Tetra Tech, please visit or follow us on LinkedIn and Facebook. Article content This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as 'anticipate,' 'expect,' 'could,' 'may,' 'intend,' 'plan' and 'believe,' among others, generally identify forward-looking statements. These forward-looking statements are based on current expectations and beliefs of Tetra Tech's management and currently available operating, financial, economic and other information, and are subject to a number of risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. A variety of factors, many of which are beyond our control, could cause actual future results or events to differ materially from those projected in the forward-looking statements in this release, including but not limited to: continuing worldwide political and economic uncertainties; the U.S. Administration's potential changes to fiscal policies; the cyclicality in demand for our overall services; the fluctuation in demand for oil and gas, and mining services; risks related to international operations; concentration of revenues from U.S. government agencies and potential funding disruptions by these agencies; dependence on winning or renewing U.S. government contracts; the delay or unavailability of public funding on U.S. government contracts; the U.S. government's right to modify, delay, curtail or terminate contracts at its convenience; compliance with government procurement laws and regulations; the impact of global pandemics; credit risks associated with certain clients in certain geographic areas or industries; acquisition strategy and integration risks; goodwill or other intangible asset impairment; the failure to comply with worldwide anti-bribery laws; the failure to comply with domestic and international export laws; the failure to properly manage projects; the loss of key personnel or the inability to attract and retain qualified personnel; the ability of our employees to obtain government granted eligibility; the use of estimates and assumptions in the preparation of financial statements; the ability to maintain adequate workforce utilization; the use of the percentage-of-completion method of accounting; the inability to accurately estimate and control contract costs; the failure to adequately recover on our claims for additional contract costs; the failure to win or renew contracts with private and public sector clients; growth strategy management; backlog cancellation and adjustments; risks relating to cyber security breaches; the failure of partners to perform on joint projects; the failure of subcontractors to satisfy their obligations; requirements to pay liquidated damages based on contract performance; the adoption of new legal requirements; changes in resource management, environmental or infrastructure industry laws, regulations or programs; changes in bank and capital markets and the access to capital; credit agreement covenants; industry competition; liability related to legal proceedings, investigations, and disputes; the availability of third-party insurance coverage; the ability to obtain adequate bonding; employee, agent, or partner misconduct; employee risks related to international travel; safety programs; conflict of interest issues; liabilities relating to reports and opinions; liabilities relating to environmental laws and regulations; force majeure events; protection of intellectual property rights; stock price volatility; the ability to impede a business combination based on Delaware law and charter documents; and other risks and uncertainties as may be described in Tetra Tech's periodic filings with the Securities and Exchange Commission, including those described in the 'Risk Factors' section of Tetra Tech's Annual Report on Form 10-K for the fiscal year ended September 29, 2024. Readers should not place undue reliance on forward-looking statements since such information speaks only as of the date of this release. Tetra Tech does not intend to update forward-looking statements and expressly disclaims any obligation to do so. Article content To supplement the financial results presented in accordance with generally accepted accounting principles in the United States ('GAAP'), we present certain non-GAAP financial measures within the meaning of Regulation G under the Securities Exchange Act of 1934, as amended. We provide these non-GAAP financial measures because we believe they provide a valuable perspective on our financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, GAAP measures. In addition, other companies may define non-GAAP measures differently which limits the ability of investors to compare non-GAAP measures of Tetra Tech to those used by our peer companies. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is Article content Article content Article content Article content Article content Article content
Yahoo
28-05-2025
- Business
- Yahoo
KBR Wins $476M Contract for Base Operations Support in Djibouti
KBR, Inc. KBR has secured a $476 million firm-fixed-price contract from the U.S. Navy Facilities Engineering Systems Command ('NAVFAC'). The contract involves Base Operations Support ('BOS') services at Camp Lemonnier and Chabelley Airfield in sites include the only permanent U.S. Navy base in Africa. The agreement enables the company to continue providing BOS services at both locations. KBR has worked with NAVFAC in Djibouti since 2013, supporting 24/7 base operations at Camp Lemonnier and Chabelley Airfield. This continued support has helped the Horn of Africa task force focus on building partner capacity, promoting regional stability, preventing conflict, and protecting U.S. and partner interests. The company will continue its support to NAVFAC under the new Djibouti BOS contract. Per the contract, KBR will deliver mission support services for the Combined Joint Task Force – Horn of Africa. The company will manage facility operations, airfield and security services, emergency response and basic life support, including power, water, housing and food. The contract will run from November 2025 to May also provides base operations support in Bahrain, Diego Garcia and the UAE, along with services to the U.S. Army and Air Force across Europe, Asia, the Middle East and North America. The company has supported military operations in complex locations for more than 30 years. The company offers diversified solutions across various end markets through two of its reportable segments, Government Solutions and Sustainable Technology Solutions. The rising global importance of national security, energy security, energy transition and climate change has been acting as a major tailwind. This advantage, coupled with KBR's focus on a resilient business model and efficiency-boosting initiatives, has sparked its project-winning solid backlog and option level highlight its underlying strength. As of April 4, 2025, the total backlog (including award options) was $20.5 billion compared with $21.2 billion as of Jan. 3, 2025. Of the total backlog, Mission Technology Solutions and the Sustainable Technology Solutions contributed $16.51 billion and $4.03 billion, respectively. At the end of first-quarter 2025, the company delivered a trailing 12-month book-to-bill ratio of 1.0X. Image Source: Zacks Investment Research KBR's shares have lost 9.5% year to date compared with the Zacks Engineering - R and D Services industry's 0.6% decline. Although its significant dependency on government spending is posing concerns, the increased demand for sustainable services and technology is likely to be beneficial in the upcoming period. In the first quarter of 2025, the company reported healthy bidding activity and continued success in securing strategic new contracts, signaling steady operational momentum. Earnings estimates for 2025 have increased to $3.85 per share from $3.83 over the past 30 days. The estimated figure indicates 15.3% growth from 2024. KBR currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the Construction sector are Sterling Infrastructure, Inc. STRL, EMCOR Group, Inc. EME and Gibraltar Industries, Inc. presently has a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks company delivered a trailing four-quarter earnings surprise of 11.5%, on average. The stock has increased 57.9% in the past year. The Zacks Consensus Estimate for Sterling's 2025 sales indicates a decrease of 1.7% and the same for earnings implies an increase of 38.5% year over currently holds a Zacks Rank #2. The company delivered a trailing four-quarter earnings surprise of 22.8%, on average. The stock has increased 20.8% in the past consensus estimate for EMCOR's 2025 sales and EPS implies an increase of 13.3% and 9.7%, respectively, from a year currently carries a Zacks Rank #2. The company delivered a trailing four-quarter earnings surprise of 3.1%, on average. The stock has lost 16.6% in the past Zacks Consensus Estimate for Gibraltar's 2025 sales and EPS implies an increase of 9.3% and 15.8%, respectively, from a year ago. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report KBR, Inc. (KBR) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report Gibraltar Industries, Inc. (ROCK) : Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
27-05-2025
- Business
- Yahoo
KBR Awarded $476M Base Operations Support Contract in Djibouti
HOUSTON, May 27, 2025 (GLOBE NEWSWIRE) -- KBR (NYSE: KBR) announced today it has been awarded a firm fixed price, $476M contract by the U.S. Navy Facilities Engineering Systems Command (NAVFAC) to continue performing Base Operations Support (BOS) services at Camp Lemonnier and Chabelley Airfield in Djibouti. This contract supports the only permanent U.S. Navy base in Africa. Under the Djibouti BOS contract, KBR will provide mission support services for the Combined Joint Task Force - Horn of Africa. As one of the Navy's largest base operations support contracts, KBR will provide full-scale support, from facility operations and maintenance to fire and emergency services to airfield and security operations for thousands of military personnel. KBR will also provide basic life support services such as power generation, water supply, housing and food services. The period of performance is November 2025 to May 2034. 'Our KBR team has worked closely with NAVFAC in Djibouti since 2013, supporting 24/7 base operations that allow the Horn of Africa task force to focus on their core mission of enhancing partner nation capacity, promoting regional stability, dissuading conflict and protecting U.S. and partner interests,' said Byron Bright, KBR Chief Operating Officer. 'We're proud to continue supporting NAVFAC under the new Djibouti BOS contract, and we're grateful to serve as The Team Behind The Mission® to over 50 U.S. military installations and sites around the globe.' In addition to Djibouti, KBR also provides base operations support to the U.S. Navy in Bahrain, Diego Garcia, and the United Arab Emirates (UAE) and to the U.S. Army and U.S. Air Force in Europe, Asia, and the Middle East, as well as in North America. KBR has provided mission-critical support to the U.S. military and allied nations for more than 30 years and operates in some of the most complex environments around the globe. About KBR We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 38,000 people worldwide with customers in more than 80 countries and operations in over 30 countries. KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver. Visit Forward-Looking Statements The statements in this press release that are not historical statements, including statements regarding performance periods and project outcomes, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company's control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason. For further information, please contact: Jamie DuBrayVice President, Investor Relations713-753-5082Investors@ Philip IvyVice President, Global Communications and Marketing 713-753-3800MediaRelations@ in to access your portfolio
Yahoo
27-05-2025
- Business
- Yahoo
KBR Awarded $476M Base Operations Support Contract in Djibouti
HOUSTON, May 27, 2025 (GLOBE NEWSWIRE) -- KBR (NYSE: KBR) announced today it has been awarded a firm fixed price, $476M contract by the U.S. Navy Facilities Engineering Systems Command (NAVFAC) to continue performing Base Operations Support (BOS) services at Camp Lemonnier and Chabelley Airfield in Djibouti. This contract supports the only permanent U.S. Navy base in Africa. Under the Djibouti BOS contract, KBR will provide mission support services for the Combined Joint Task Force - Horn of Africa. As one of the Navy's largest base operations support contracts, KBR will provide full-scale support, from facility operations and maintenance to fire and emergency services to airfield and security operations for thousands of military personnel. KBR will also provide basic life support services such as power generation, water supply, housing and food services. The period of performance is November 2025 to May 2034. 'Our KBR team has worked closely with NAVFAC in Djibouti since 2013, supporting 24/7 base operations that allow the Horn of Africa task force to focus on their core mission of enhancing partner nation capacity, promoting regional stability, dissuading conflict and protecting U.S. and partner interests,' said Byron Bright, KBR Chief Operating Officer. 'We're proud to continue supporting NAVFAC under the new Djibouti BOS contract, and we're grateful to serve as The Team Behind The Mission® to over 50 U.S. military installations and sites around the globe.' In addition to Djibouti, KBR also provides base operations support to the U.S. Navy in Bahrain, Diego Garcia, and the United Arab Emirates (UAE) and to the U.S. Army and U.S. Air Force in Europe, Asia, and the Middle East, as well as in North America. KBR has provided mission-critical support to the U.S. military and allied nations for more than 30 years and operates in some of the most complex environments around the globe. About KBR We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 38,000 people worldwide with customers in more than 80 countries and operations in over 30 countries. KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver. Visit Forward-Looking Statements The statements in this press release that are not historical statements, including statements regarding performance periods and project outcomes, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company's control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason. For further information, please contact: Jamie DuBrayVice President, Investor Relations713-753-5082Investors@ Philip IvyVice President, Global Communications and Marketing 713-753-3800MediaRelations@ in to access your portfolio
