Tetra Tech Inc. (NASDAQ:TTEK) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Tetra Tech Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8.57% to $0.38 in the quarter versus EPS of $0.35 in the year-earlier quarter.
Revenue: Decreased 16.57% to $520.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tetra Tech Inc. reported adjusted EPS income of $0.38 per share. By that measure, the company missed the mean analyst estimate of $0.40. It missed the average revenue estimate of $532.4 million.
Quoting Management: Tetra Tech’s Chairman and CEO, Dan Batrack, commented, “We generated second quarter results that were in-line with our expectations and guidance. We continue to experience strong demand for our water and environmental services from commercial clients, especially with our oil & gas customers. U.S. commercial and international clients now represent 59% of our net revenue.”
Key Stats (on next page)…