The following is a summary of the Tetra Tech, Inc. (TTEK) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Tetra Tech reported Q2 net revenues of $1.05 billion, a 9% increase.

• EBITDA rose by 28% to $135 million.

• Earnings per share for Q2 reached a record high of $1.42, up 34% from the previous year.

• The company's backlog at the end of Q2 was $4.74 billion, an 11% increase from the last year.

• Cash flows from operations for Q2 were $103 million, exceeding net income by more than 30%.

• Q3 net revenue is estimated to be between $1.05 billion and $1.1 billion, with EPS of $1.50 to $1.55.

• The guidance for fiscal year 2024 is projected to be net revenue between $4.21 billion and $4.31 billion and EPS of $6.15 to $6.25.

Business Progress:

• With the completion of the U.S. federal budget, the company has seen an increase in new contract awards.

• Several multi-million dollar contract awards regarding environmental remediation and restoration were made to the firm, including a single-award contract for coal ash remediation.

• Plans for Tetra Tech's inaugural Investor Day on May 14th are in progress, where the future strategic plan for the company will be presented.

• Through its commitment to sustainability initiatives, the company has removed over 153.6 million metric tons of carbon equivalent emissions since 2021.

• The RPS acquisition has yielded revenue synergies leading to several significant contract awards.

• Focusing on high-end water and environmental consulting, Tetra Tech hopes to drive margin expansion due to high demand.

More details: Tetra Tech Inc IR

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