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Tetra Tech (TTEK)

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, and renewable energy. The Company is Leading with Science® to provide sustainable and resilient solutions for its clients.

Company profile

Ticker
TTEK
Exchange
CEO
Dan Batrack
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Advanced Management Technology, Inc. • American Environmental Group, Ltd. • America's Schoolhouse Consulting Services, Inc. • ARD, Inc. • Ardaman & Associates, Inc. • BIOCNG, LLC • BlueWater Federal Solutions, Inc. • Cornerstone Environmental Group, LLC • Cosentini Associates, Inc. • Foothills Indemnity, Inc. ...
IRS number
954148514

TTEK stock data

Calendar

6 May 22
2 Jul 22
2 Oct 22
Quarter (USD) Apr 22 Jan 22 Oct 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Oct 21 Sep 20 Sep 19 Sep 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 194.38M 194.38M 194.38M 194.38M 194.38M 194.38M
Cash burn (monthly) 3.72M 2.58M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 11.16M 7.74M n/a n/a n/a n/a
Cash remaining 183.22M 186.64M n/a n/a n/a n/a
Runway (months of cash) 49.2 72.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jun 22 Volpi Kirsten M COMMON STOCK Sell Dispose S No No 135.4126 550 74.48K 12,475
2 May 22 Prashant Gandhi RSU COMMON STOCK Grant Acquire A No No 0 357 0 357
18 Mar 22 Volpi Kirsten M COMMON STOCK Gift Dispose G No No 0 610 0 13,025
86.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 390 392 -0.5%
Opened positions 47 71 -33.8%
Closed positions 49 29 +69.0%
Increased positions 142 112 +26.8%
Reduced positions 137 146 -6.2%
13F shares Current Prev Q Change
Total value 8.56B 8.31B +3.0%
Total shares 46.3M 46.68M -0.8%
Total puts 23.6K 39.6K -40.4%
Total calls 91.2K 106.1K -14.0%
Total put/call ratio 0.3 0.4 -30.7%
Largest owners Shares Value Change
BLK Blackrock 7.21M $1.19B +2.4%
Vanguard 5.3M $874.78M +1.2%
Alliancebernstein 3.63M $597.92M +40.0%
Pictet Asset Management 2.44M $401.72M -12.6%
ATAC Neuberger Berman 1.8M $296.94M -1.8%
STT State Street 1.71M $281.59M +1.9%
Geode Capital Management 1.04M $172.05M +4.9%
IVZ Invesco 917.62K $151.35M +7.5%
Dimensional Fund Advisors 879.8K $145.12M -1.6%
BAC Bank Of America 866.1K $142.85M +12.9%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -1.33M EXIT
Alliancebernstein 3.63M +1.04M +40.0%
Pictet Asset Management 2.44M -351.1K -12.6%
Lord, Abbett & Co. 472.01K +296.21K +168.5%
FMR 291.41K -263.6K -47.5%
Amundi 202.86K +198.79K +4892.7%
SLFPY Standard Life Aberdeen 665.73K +182.72K +37.8%
BLK Blackrock 7.21M +171.03K +2.4%
DB Deutsche Bank AG - Registered Shares 104.91K -158.52K -60.2%
Allianz Asset Management GmbH 607.75K -130.14K -17.6%

Financial report summary

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Risks
  • Business and Operations Risk Factors
  • Our results of operations could be adversely affected by health outbreaks such as the COVID-19 pandemic.
  • Continuing worldwide political, social and economic uncertainties may adversely affect our revenue and profitability.
  • Changes in tax laws could increase our tax rate and materially affect our results of operations.
  • Demand for our services is cyclical and vulnerable to economic downturns. If economic growth slows, government fiscal conditions worsen, or client spending declines further, then our revenue, profits and financial condition may deteriorate.
  • Our international operations expose us to legal, political, and economic risks in different countries as well as currency exchange rate fluctuations that could harm our business and financial results.
  • The United Kingdom's withdrawal from the European Union could have an adverse effect on our business and financial results.
  • We derive a substantial amount of our revenue from U.S. federal, state and local government agencies, and any disruption in government funding or in our relationship with those agencies could adversely affect our business.
  • Our inability to win or renew U.S. government contracts during regulated procurement processes could harm our operations and significantly reduce or eliminate our profits.
  • Each year, client funding for some of our U.S. government contracts may rely on government appropriations or public-supported financing. If adequate public funding is delayed or is not available, then our profits and revenue could decline.
  • Our U.S. federal government contracts may give government agencies the right to modify, delay, curtail, renegotiate, or terminate existing contracts at their convenience at any time prior to their completion, which may result in a decline in our profits and revenue.
  • As a U.S. government contractor, we must comply with various procurement laws and regulations and are subject to regular government audits; a violation of any of these laws and regulations or the failure to pass a government audit could result in sanctions, contract termination, forfeiture of profit, harm to our reputation or loss of our status as an eligible government contractor and could reduce our profits and revenue.
  • If we extend a significant portion of our credit to clients in a specific geographic area or industry, we may experience disproportionately high levels of collection risk and nonpayment if those clients are adversely affected by factors particular to their geographic area or industry.
  • We have made and expect to continue to make acquisitions. Acquisitions could disrupt our operations and adversely impact our business and operating results. Our failure to conduct due diligence effectively, or our inability to successfully integrate acquisitions, could impede us from realizing all of the benefits of the acquisitions, which could weaken our results of operations.
  • If our goodwill or intangible assets become impaired, then our profits may be significantly reduced.
  • We could be adversely impacted if we fail to comply with domestic and international export laws.
  • If we fail to complete a project in a timely manner, miss a required performance standard, or otherwise fail to adequately perform on a project, then we may incur a loss on that project, which may reduce or eliminate our overall profitability.
  • The loss of key personnel or our inability to attract and retain qualified personnel could impair our ability to provide services to our clients and otherwise conduct our business effectively.
  • Our revenue and growth prospects may be harmed if we or our employees are unable to obtain government granted eligibility or other qualifications we and they need to perform services for our customers.
  • Our actual business and financial results could differ from the estimates and assumptions that we use to prepare our consolidated financial statements, which may significantly reduce or eliminate our profits.
  • Our profitability could suffer if we are not able to maintain adequate utilization of our workforce.
  • Our use of the percentage-of-completion method of revenue recognition could result in a reduction or reversal of previously recorded revenue and profits.
  • If we are unable to accurately estimate and control our contract costs, then we may incur losses on our contracts, which could decrease our operating margins and reduce our profits. Specifically, our fixed-price contracts could increase the unpredictability of our earnings.
  • Our failure to adequately recover on claims brought by us against clients for additional contract costs could have a negative impact on our liquidity and profitability.
  • If we are not able to successfully manage our growth strategy, our business and results of operations may be adversely affected.
  • Our backlog is subject to cancellation, unexpected adjustments and changing economic conditions, and is an uncertain indicator of future operating results.
  • Cyber security breaches of our systems and information technology could adversely impact our ability to operate.
  • If our business partners fail to perform their contractual obligations on a project, we could be exposed to legal liability, loss of reputation and profit reduction or loss on the project.
  • If our contractors and subcontractors fail to satisfy their obligations to us or other parties, or if we are unable to maintain these relationships, our revenue, profitability, and growth prospects could be adversely affected.
  • Changes in resource management, environmental, or infrastructure industry laws, regulations, and programs could directly or indirectly reduce the demand for our services, which could in turn negatively impact our revenue.
  • Changes in capital markets could adversely affect our access to capital and negatively impact our business.
  • Restrictive covenants in our credit agreement may restrict our ability to pursue certain business strategies.
  • Our industry is highly competitive, and we may be unable to compete effectively, which could result in reduced revenue, profitability and market share.
  • Legal proceedings, investigations, and disputes could result in substantial monetary penalties and damages, especially if such penalties and damages exceed or are excluded from existing insurance coverage.
  • Unavailability or cancellation of third-party insurance coverage would increase our overall risk exposure as well as disrupt the management of our business operations.
  • Our inability to obtain adequate bonding could have a material adverse effect on our future revenue and business prospects.
  • Employee, agent, or partner misconduct, or our failure to comply with anti-bribery and other laws or regulations, could harm our reputation, reduce our revenue and profits, and subject us to criminal and civil enforcement actions.
  • Our business activities may require our employees to travel to and work in countries where there are high security risks, which may result in employee death or injury, repatriation costs or other unforeseen costs.
  • Our failure to implement and comply with our safety program could adversely affect our operating results or financial condition.
  • We may be precluded from providing certain services due to conflict of interest issues.
  • If our reports and opinions are not in compliance with professional standards and other regulations, we could be subject to monetary damages and penalties.
  • We may be subject to liabilities under environmental laws and regulations.
  • Force majeure events, including natural disasters, pandemics and terrorist actions, could negatively impact the economies in which we operate or disrupt our operations, which may affect our financial condition, results of operations, or cash flows.
  • We have only a limited ability to protect our intellectual property rights, and our failure to protect our intellectual property rights could adversely affect our competitive position.
  • Assertions by third parties of infringement, misappropriation or other violations by us of their intellectual property rights could result in significant costs and substantially harm our business, financial condition and operating results.
  • Our stock price could become more volatile and stockholders’ investments could lose value.
  • Delaware law and our charter documents may impede or discourage a merger, takeover, or other business combination even if the business combination would have been in the short-term best interests of our stockholders.
Management Discussion
  • In the second quarter of fiscal 2022, revenue and revenue, net of subcontractor costs, increased $98.0 million, or 13.0%, and $99.8 million, or 16.6%, respectively, compared to the year-ago quarter. Excluding the contributions from acquisitions that did not have activity in the second quarter of last year, our revenue increased approximately 7% in the second quarter of fiscal 2022 compared to the second quarter of fiscal 2021. Our GSG segment's revenue and revenue, net of subcontractor costs, increased $16.4 million, or 3.8%, and $27.4 million, or 8.8%, respectively, in the second quarter of fiscal 2022 compared to last year's second quarter. Our CIG segment's revenue increased $81.5 million, or 24.3%, and revenue, net of subcontractor costs, increased $72.9 million, or 25.2% in the second quarter of fiscal 2022 compared to the second quarter of fiscal 2021.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
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Readability
H.S. freshman Avg
New words: addressing, benchmark, core, Cut, dewatering, extra, final, gas, greenhouse, grid, hydrologic, nearest, numerical, Overnight, PAE, Piteau, regime, released, settlement, social, SOFR, Sunday, unrealized, Vancouver, week
Removed: demand, diversified, Eurocurrency, Eurodollar, prolonged, redeploy, reflecting, renewable, uninterrupted