Environmental engineering firm Tetra Tech (NASDAQ: TTEK) will be reporting earnings this Wednesday after market close. Here’s what to expect.
Tetra Tech beat analysts’ revenue expectations by 10.7% last quarter, reporting revenues of $1.16 billion, up 1.6% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.
Is Tetra Tech a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Tetra Tech’s revenue to decline 18.6% year on year to $974.9 million, a reversal from the 17.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.31 per share.
Analysts covering the company have generally 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 4.9% on average.
Looking at Tetra Tech’s peers in the business services & supplies segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Cintas delivered year-on-year revenue growth of 9.3%, beating analysts’ expectations by 1.4%, and UniFirst reported revenues up 2.7%, topping estimates by 1%. Cintas’s stock price was unchanged after the resultsand UniFirst’s price followed a similar reaction.
Read our full analysis of Cintas’s results here and UniFirst’s results here.
Investors in the business services & supplies segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Tetra Tech is up 7.5% during the same time and is heading into earnings with an average analyst price target of $42.50 (compared to the current share price of $36.68).
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