Quarterly ResultMay 1, 2026, 04:38 PM
Tetra Tech H1 Net Income $198.7M; Acquires Halvik for $210M
AI Summary
Tetra Tech reported a significant increase in net income attributable to shareholders for the first half of fiscal 2026, reaching $198.7 million, compared to $6.1 million in the prior year. This improvement was largely driven by the absence of a $92.4 million goodwill impairment and $115 million in legal contingency costs recorded in the previous period. The company also completed the acquisition of Halvik Corp for approximately $210 million and divested its Norway operations, generating $40.3 million in proceeds.
Key Highlights
- Net income attributable to Tetra Tech for H1 2026 was $198.7 million, up from $6.1 million in H1 2025.
- Diluted earnings per share for H1 2026 increased to $0.76 from $0.02 in H1 2025.
- Revenue for H1 2026 decreased to $2.43 billion from $2.74 billion in H1 2025.
- Acquired Halvik Corp for approximately $210 million in Q2 fiscal 2026, enhancing Government Services.
- Divested Norway operations in Q1 fiscal 2026, yielding $40.3 million in proceeds.
- Net cash provided by operating activities surged to $237.6 million in H1 2026 from $7.2 million in H1 2025.
- Remaining Unsatisfied Performance Obligation (RUPO) stood at $4.2 billion as of March 29, 2026.
- Goodwill increased to $2.21 billion at March 29, 2026, from $2.05 billion at September 28, 2025.