All statements in this communication other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of Tetra Tech. These statements involve risks and uncertainties, such as those related to fluctuations in Tetra Tech's quarterly operating results and stock price, and the other risks detailed from time to time in Tetra Tech's SEC reports. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
To supplement the financial results presented in accordance with generally accepted accounting principles in the United States ("GAAP"), we present certain non-GAAP financial measures within the meaning of Regulation G under the Securities Exchange Act of 1934, as amended. We provide these non-GAAP financial measures because we believe they provide a valuable perspective on our financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, GAAP measures. In addition, other companies may define non-GAAP measures differently which limits the ability of investors to compare non-GAAP measures of Tetra Tech to those used by our peer companies. A reconciliation of these non-GAAP financial measures is available in the Appendix at the end of this communication.
2
Q2-23 Results
Net Revenue
$970M
$700M
+39%
Q2-22Q2-23
Note: Refer to reconciliation summary.
EBITDA
EPS
$105M
$1.17
$81M
$0.98
+30%
+19%
Q2-22
Q2-23
Q2-22
Q2-23
Q2 results driven by high-end water and environmental consulting services
3
Tetra Tech without RPS - Record Q2 Results
Q2-23
Y/Y
Revenue
$989M
+16%
Net Revenue
$826M
+18%
Operating Income
$89M
+19%
EBITDA
$96M
+19%
EPS
$1.20
+22%
RECORD HIGH
4
Net Revenue by Customer (Q2-23)
Customer
% of
Y/Y
Comments
Net Rev.
U.S. Federal
31%
+59%
• Broad-based Water and Environmental up
•
Excluding Ukraine Energy: +22%
U.S. State & Local
12%
+12%
•
Digital Water up
•
Including Disaster Response: -8%
U.S. Commercial
19%
+25%
• Renewable Energy and Environmental up
•
Excluding RPS Acquisition: +13%
International
38%
+55%
• High Performance Buildings up
•
Excluding RPS Acquisition: +11%
5
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Tetra Tech Inc. published this content on 10 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2023 21:20:51 UTC.
Tetra Tech, Inc. is a global provider of consulting and engineering services that is focused on water, environment, sustainable infrastructure, renewable energy and international development. The Company is Leading with Science to provide solutions for its public and private clients. The Company operates through its two segments: government services group (GSG) and commercial/international services group (CIG). Its GSG segment provides consulting and engineering services primarily to United States (U.S.) government clients and development agencies worldwide. The Company's CIG segment primarily provides consulting and engineering services to U.S. commercial clients and international clients that include both commercial and government sectors. Its CIG segment provides sustainable infrastructure and related environmental, engineering and project management services to commercial and local government clients across Canada, in Asia Pacific, the United Kingdom, as well as Brazil and Chile.
TETRA TECH, INC. 
