Tetra Tech Inc
) reported fourth-quarter earnings of 39 cents per share
(excluding one-time items), beating the Zacks Consensus Estimate
of 36 cents. However, earnings during the quarter were lower than
the prior-year earnings of 47 cents a share.
Total revenue in the reported quarter was down 2.9% to $698.4
million from $719.4 million in the prior-year period. Revenues,
net of subcontractor costs, were $531.5 million compared with
$536.3 million in the year-earlier quarter. However, revenues
were well ahead of the Zacks Consensus Estimate of $519
Backlog was $1.91 billion at the end of the reported quarter,
reflecting a 10.7% decline from a backlog of $2.14 billion in the
Tetra Tech generated cash from operations of $22.5 million
compared with $29.8 million in the fourth quarter of 2012.
Following the earnings release, management provided guidance
for the first quarter and full year 2014. Tetra Tech expects
earnings for the first quarter of fiscal 2014 to be in the range
of 35 cents to 40 cents a share. Revenues, net of subcontractor
costs, for the first quarter, are expected to range from $440
million to $500 million.
For fiscal 2014, Tetra Tech expects earnings to be in the
range of $1.60 to $1.80 per share. Revenues, net of subcontractor
costs, for fiscal 2014 are expected to range from $2.1 billion to
Along with the earnings release, Tetra Tech received a
contract from Chevron Mining Inc. The financial details of the
contract were not disclosed but the scope of the contract
requires Tetra Tech to provide Engineering, Procurement and
Construction services (EPC). Per the contract, Tetra is required
to provide EPCservices for a new water treatment plant to support
the Questa Mine Site based in Taos, New Mexico.
Tetra Tech has a Zacks Rank #4 (Sell), which is not a good
investment option at the moment. However, other stocks worth
considering at the moment are
Sharp Compliance Corp.
Perma-Fix Environmental Services Inc
Quanta Services Inc.
). Sharp Compliance has a Zacks Rank #1 (Strong Buy), while
Perma-Fix Environmental Services and Quanta carry a Zacks Rank #2
PERMA-FIX ENVIR (PESI): Free Stock Analysis
QUANTA SERVICES (PWR): Free Stock Analysis
SHARPS COMPLIAN (SMED): Free Stock Analysis
TETRA TECH NEW (TTEK): Free Stock Analysis
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