Tetra Tech reports Q4 EPS $1.78, consensus $1.43

Reports Q4 revenue $1.06B, consensus $990.8M. Reports Q4 Backlog of $4.79 billion, up $1.05 billion Y/Y. Tetra Tech Chairman and CEO, Dan Batrack, commented, “As we completed fiscal year 2023, our differentiated Leading with Science(R) approach to the water, environment and sustainable infrastructure markets generated the highest financial results of any quarter and year in our history. In addition to our all-time high results in revenue, earnings and backlog, we accomplished significant strategic milestones this year, including closing the largest transaction in our history, enhancing our capital structure, and expanding our Tetra Tech Delta technologies to include a subscription software practice. Our clients are continuing to increase funding for water and environmental programs, including climate change mitigation and adaptation to address water security, coastal flooding, energy transition and biodiversity protection. With our market leadership in these key areas, we booked nearly $2 billion in new orders in the fourth quarter and increased our backlog by more than $1 billion over last year. Building on this momentum, we expect double-digit revenue growth in fiscal 2024 and further margin expansion.”