By Josée Rose
Tetra Tech's fiscal first quarter revenue rose, though the company is pausing some of its work for the government as part of the ongoing review process.
The provider of high-end consulting and engineering services in water, environment and sustainable infrastructure reported earnings of 0 cents a share for its quarter ended Dec. 29, compared with earnings of 28 cents a year earlier.
On an adjusted basis, Tetra Tech reported earnings of 35 cents a share, compared with 28 cents a share a year earlier.
Revenue rose 18% to $1.2 billion from $1.02 billion a year ago..
Analysts polled by Factset expected adjusted earnings of 35 cents a share and revenue of $1.2 billion.
Tetra Tech said it has paused some of its work for the U.S. government, particularly with the U.S. Agency for International Development, at the direction of the new administration.
The company expects second-quarter earnings of 30 cents to 33 cents a share on net revenue of $1 billion to $1.1 billion. For the full year, Tetra Tech expects adjusted earnings of $1.37 to $1.52 a share on net revenue of $4.37 billion to $4.77 billion. This guidance reflects the ongoing government review, Tetra Tech said.
In after-hours trading, shares rose 4.3% to $39.30. They are up almost 20% in the past 52 weeks.
Write to Josée Rose at josee.rose@wsj.com
(END) Dow Jones Newswires
January 29, 2025 17:16 ET (22:16 GMT)
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