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Tetra Tech Provides Third Quarter and Fiscal Year 2020 Guidance
PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, today announced
About this update from Tetra Tech, Inc.
[{"type":"text","content":" PASADENA, Calif.--(BUSINESS WIRE)--\nTetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, today announced guidance for the third quarter and fiscal year 2020, which reflects improved visibility as stay-at-home restrictions in response to the COVID-19 pandemic are lifted.\n\n\nTetra Tech expects adjusted diluted EPS1 for the third quarter of fiscal 2020 to range from $0.72 to $0.75. Revenue, net of subcontractor costs (net revenue)1 for the third quarter is expected to range from $540 million to $560 million. For fiscal 2020, Tetra Tech expects adjusted diluted EPS to range from $3.05 to $3.13 and net revenue to range from $2.3 billion to $2.4 billion.\n\n\nThe Company had $774 million of available liquidity2 and a net debt leverage ratio2 of 0.8x at the end of the second quarter of fiscal 2020. This strong liquidity is further enhanced with more than $50 million in cash generated from operations through the first two months of the third quarter. The continued strength in cash flow has reduced the Company’s net debt leverage ratio and days sales outstanding from its second quarter results.\n\n\nTetra Tech’s Chairman and CEO, Dan Batrack, commented, “Our Leading with Science® approach and leadership positions in critical water and environmental markets have allowed us to continue providing Tetra Tech’s essential services to our clients. While uncertainty remains as a result of the global pandemic, we see a greater recognition of the value and benefit derived from our differentiated high-end consulting services augmented by technology and advanced data analytics. Our near record level of funded and authorized backlog, strong balance sheet, and technical innovation have positioned us well to navigate the current disruption and future recovery.”\n\n\nAbout Tetra Tech\n\n\nTetra 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, infrastructure, resource management, energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter (@TetraTech), or like us on Facebook.\n\n...