Tetra Tech stock gains 4% following Q4 beat
Tetra Tech (NASDAQ:TTEK) shares rose more than 4% after-hours following the company’s reported Q4 results, with EPS of $1.78 coming in better than the consensus estimate of $1.44.
Revenue grew 40% year-over-year to $1.26 billion, beating the consensus estimate of $1.01B. The backlog increased to an all-time high of $4.79B, representing a 28% year-over-year growth.
Tetra Tech Chairman and CEO, Dan Batrack, highlighted the company's robust performance, stating that the company booked nearly $2B in new orders in Q4 and increased its backlog by more than $1B compared to the previous year. “Building on this momentum, we expect double-digit revenue growth in fiscal 2024 and further margin expansion,” commented Batrack.
For Q1/24, the company expects EPS to be in the range of $1.30-$1.38, compared to the consensus estimate of $1.36, and revenue in the range of $950 million — $1B, compared to the consensus of $960.05M.
For the full year, the company sees EPS at $5.70-$6.00, compared to the consensus of $5.24, and net revenue at $4.05-$4.25B, compared to the consensus of $3.68B.
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