Nucor earnings beat by $0.08, revenue fell short of estimates
In a volatile trading session, Tetra Tech Inc. (NASDAQ:TTEK) stock has reached its 52-week low, dipping to $31.73. The environmental consulting and engineering firm has faced a challenging market environment, reflecting broader economic pressures. According to InvestingPro analysis, technical indicators suggest the stock is currently oversold, while the company maintains strong fundamentals with revenue growth of 15.2% and a healthy dividend program that has seen 11 consecutive years of increases. Despite the recent downturn, Tetra Tech’s performance over the past year shows resilience, with a 1-year change showing a modest increase of 2.86%. Investors are closely monitoring the company’s ability to navigate the current economic landscape and maintain its growth trajectory amidst fluctuating market conditions. Based on InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels, with analyst targets suggesting potential upside. For deeper insights into Tetra Tech’s valuation and 13 additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Tetra Tech reported record first quarter revenue of $1.42 billion, marking a 16% increase year-over-year and surpassing analyst estimates. The company also raised the high-end of its fiscal 2025 earnings guidance. In the first quarter, Tetra Tech posted adjusted earnings per share of $0.35, exceeding the analyst consensus of $0.34, with net revenue, excluding subcontractor costs, rising 18% year-over-year to $1.20 billion.
The company’s backlog grew 15% year-over-year to a record $5.44 billion, indicating strong future demand for its services. Adjusted operating income also saw a 24% year-over-year increase to $138 million. For fiscal 2025, Tetra Tech now expects net revenue between $4.365 billion and $4.765 billion, with adjusted earnings per share ranging from $1.37 to $1.52, a raise from the previous analyst consensus of $1.45.
These are recent developments that also include Tetra Tech’s board approving a 12% increase in its quarterly dividend to $0.058 per share and a repurchase of $25 million of common stock during the first quarter. Additionally, the company noted it has paused some U.S. federal government work, particularly with USAID, while assisting clients with their review of multiple programs across various government agencies.
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