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Tetra Tech, Inc. has submitted its 10-K filing for the fiscal year ended September 29, 2024.
The filing includes financial statements for the year, showing an increase in revenue to $5,198,679,000 from $4,522,550,000 in the previous year. This growth is attributed to increased activity in U.S. federal and international client sectors.
Net income for the year was $333,443,000, up from $273,452,000 in the previous year. The company reported diluted earnings per share of $1.23, compared to $1.02 in the previous year.
Cash provided by operating activities was $358,708,000, while cash used in investing and financing activities was $111,043,000 and $191,380,000, respectively.
Tetra Tech had a working capital of $1,527,383,000 as of September 29, 2024. The company maintains its focus on providing high-end consulting and engineering services in water, environment, and sustainable infrastructure.
The filing also details recent acquisitions, including LS Technologies and Convergence Controls & Engineering, which are expected to enhance Tetra Tech's capabilities in data analytics, cybersecurity, and digital transformation.
Tetra Tech continues to manage its operations under two reportable segments: Government Services Group and Commercial/International Services Group, with a significant portion of revenue generated from U.S. federal government contracts.
The company reported a backlog of $5.4 billion at the end of fiscal 2024, an increase of 12.2% compared to the previous year, indicating strong future revenue prospects.
Tetra Tech's management remains focused on strategic growth initiatives, including acquisitions and expansion of service offerings, while maintaining a disciplined approach to financial management and operational efficiency.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Tetra Tech Inc. annual 10-K report dated November 19, 2024. To report an error, please email earnings@qz.com.