Yahoo Finance Tetra Tech (TTEK) Q2 Earnings: What To Expect
Consulting and engineering services company Tetra Tech (NASDAQ:TTEK) will be announcing earnings results tomorrow after market hours. Here's what investors should know.
Tetra Tech beat analysts' revenue expectations by 2.7% last quarter, reporting revenues of $1.05 billion, up 8.6% year on year. It was a mixed quarter for the company, with a decent beat of analysts' earnings estimates but a miss of analysts' backlog sales estimates.
Is Tetra Tech a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Tetra Tech's revenue to grow 9.3% year on year to $1.08 billion, slowing from the 37.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.53 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tetra Tech has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 5.3% on average.
Looking at Tetra Tech's peers in the environmental and facilities services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Rollins delivered year-on-year revenue growth of 8.7%, meeting analysts' expectations, and Waste Management reported revenues up 5.5%, in line with consensus estimates. Rollins traded down 6.4% following the results while Waste Management was also down 8%.
Read our full analysis of Rollins's results here and Waste Management's results here.
There has been positive sentiment among investors in the environmental and facilities services segment, with share prices up 10.2% on average over the last month. Tetra Tech is up 7.7% during the same time and is heading into earnings with an average analyst price target of $239.7 (compared to the current share price of $213.11).
Today’s young investors likely haven’t read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
