# EDGAR Filing Document

**Accession Number:** 0000831641
**File Stem:** 0001104659-26-007481
**Filing Date:** 2026-1
**Character Count:** 30717
**Document Hash:** 57fb415f82a574f8fd32d9bd909780b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-007481.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001104659-26-007481

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260128

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TETRA TECH INC
- **CENTRAL INDEX KEY:** 0000831641
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-ENGINEERING SERVICES [8711]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 954148514
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0928

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-19655
- **FILM NUMBER:** 26573569

**BUSINESS ADDRESS:**
- **STREET 1:** 3475 EAST FOOTHILL BOULEVARD
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91107
- **BUSINESS PHONE:** 6263514664

**MAIL ADDRESS:**
- **STREET 1:** 3475 EAST FOOTHILL BOULEVARD
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91107

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported):

**January 28, 2026**

**TETRA TECH, INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **0-19655** | **95-4148514** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification Number) |

---

**3475 East Foothill Boulevard** **, Pasadena, California 91107**

(Address of principal executive office, including zip code)

**(626) 351-4664**

(Registrant's telephone number, including area code)

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) <br>

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) <br>

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) <br>

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.01 par value | TTEK | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

---

| | |
|:---|:---|
| **Item 2.02.** | **Results of Operations and Financial Condition.** |

---

On January 28, 2026, Tetra Tech, Inc. ("Tetra Tech") reported its financial results for the first fiscal quarter ended December 28, 2025. A copy of the press release is attached to this report as Exhibit 99.1.

Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

---

| | |
|:---|:---|
| **Item 8.01.** | **Other Events.** |

---

 

On January 28, 2026, Tetra Tech announced that its Board of Directors has declared a $0.065 per share quarterly cash dividend. The dividend is payable on February 27, 2026 to stockholders of record as of the close of business on February 12, 2026.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

---

| | |
|:---|:---|
| [99.1](tm264341d1_ex99-1.htm) | [Press Release, dated January 28, 2026, reporting the financial results for Tetra Tech's first fiscal quarter ended December 28, 2025, and the declaration of a quarterly cash dividend.](tm264341d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, Tetra Tech has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | TETRA TECH, INC. | TETRA TECH, INC. |
| Date: January 28, 2026 | By: | /s/ DAN L. BATRACK |
|  |  | Dan L. Batrack |
|  |  | Chairman and Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| ![](tm264341d1_ex99-1img001.jpg) | ***NEWS RELEASE***<br> January 28, 2026 |

---

**Tetra Tech Reports Strong First Quarter 2026 Results and**

**Raises Fiscal Year 2026 Guidance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Revenue $1.21 billion; Net Revenue $1.04 billion** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Net Revenue up 8% excluding USAID/DOS and Q1-25 Hurricanes** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Operating Income $141 million; Adjusted EBITDA $147 million** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **EPS $0.40; Adjusted EPS $0.35** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Raising FY26 Net Revenue and EPS guidance** 

*Pasadena, California*. Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services in water, environment and sustainable infrastructure, today announced results for the first quarter ended December 28, 2025.

Revenue and revenue, net of subcontractor costs (net revenue)<sup>1</sup>, in the first quarter totaled $1.21 billion and $1.04 billion, respectively. Operating income was $141 million and adjusted EBITDA<sup>1</sup> was $147 million; adjusted EBITDA margin up 140 basis points year-over-year. EPS was $0.40 and adjusted EPS<sup>1</sup> was $0.35. Backlog was $3.95 billion at the end of the first quarter. Cash from operations was $72 million in the first quarter and $517 million over the trailing 12 months.

**Q1 FY26 Highlights (Excluding USAID / DOS)**

&nbsp;&nbsp;&nbsp;&nbsp;· Adjusted
 EBITDA **margin improved 80 basis points** year-over-year

&nbsp;&nbsp;&nbsp;&nbsp;· **EPS up 17%** year-over-year

&nbsp;&nbsp;&nbsp;&nbsp;· **DSO improved to 51 days** 

&nbsp;&nbsp;&nbsp;&nbsp;· **Halvik acquisition** expands high-end data analytics and resilient infrastructure optimization

&nbsp;&nbsp;&nbsp;&nbsp;· **Providence acquisition** further advances front-end program advisory services

&nbsp;&nbsp;&nbsp;&nbsp;· **$151 billion** ten-year multiple award contract for the U.S. Missile Defense Agency SHIELD program

&nbsp;&nbsp;&nbsp;&nbsp;· **$500 million** multiple-award contract for environmental services for USACE Baltimore District

&nbsp;&nbsp;&nbsp;&nbsp;· **A$88 million** single-award contract for coastal infrastructure planning services for Australia
 Defense

&nbsp;&nbsp;&nbsp;&nbsp;· **$60 million** multiple-award contract for waterway design services for USACE Portland District

&nbsp;&nbsp;&nbsp;&nbsp;· **A$57 million** single-award contract for naval facility resilience for Australia Defense

<sup>1</sup> Non-GAAP financial measures which the Company believes provide valuable perspectives on its business results. Refer to tables at the end of the release and Regulation G Information for reconciliations to the comparable GAAP metrics.

**Executive Management Comments**

Dan Batrack, Chairman and CEO, commented, "Tetra Tech began fiscal 2026 with a strong first quarter as net revenue was up 8% and EPS up 17%. Subsequent to the first quarter, we announced two strategic acquisitions, further expanding our front-end consulting business for our defense clients. As expected, our margin increased by 80 basis points, with our higher margin front-end advisory and technical consulting business growing at a double-digit rate. With the promotion of Roger Argus to CEO effective after our annual shareholders meeting, I see continued progress toward achieving our 2030 vision and direction and the associated financial targets."

Roger Argus, President and CEO-designate, stated, "We continued to see significant demand for our differentiated services in water, environment, and sustainable infrastructure across our global operations. During the quarter, we grew our government business with municipal water and defense clients, and on the commercial side, we saw an increase in power and transmission projects to support energy demand. As a result, we are increasing our guidance for 2026 and are well positioned to achieve our 2030 goals."

**Quarterly Dividend and Share Repurchase Program**

On January 26, 2026, Tetra Tech's Board of Directors approved the Company's 47<sup>th</sup> consecutive quarterly dividend at an amount of $0.065 per share, a 12% increase year-over-year, payable on February 27, 2026, to stockholders of record as of February 12, 2026. In the first quarter, Tetra Tech repurchased $50 million of common stock. Additionally, as of December 28, 2025, the Company had $548 million remaining under its share repurchase programs.

**Business Outlook**

The following statements are based on current expectations. These statements are forward-looking, and the actual results could differ materially. These statements do not include the potential impact of transactions that may be completed or developments that become evident after the date of this release. The Business Outlook section should be read in conjunction with the information on forward-looking statements at the end of this release.

For fiscal 2026, Tetra Tech is increasing the full year guidance for net revenue<sup>2</sup> to range from $4.15 billion to $4.30 billion and adjusted EPS<sup>3</sup> to range from $1.46 to $1.56. For the second quarter of fiscal 2026, Tetra Tech expects net revenue to range from $975 million to $1.025 billion and EPS to range from $0.30 to $0.33.

**Webcast**

Investors will have the opportunity to access a live audio-visual webcast and supplemental financial information concerning the first quarter of fiscal 2026 results through a link posted on the Company's website at tetratech.com on January 29, 2026, at 8:00 a.m. (PT).

<sup>2</sup> Reconciliation of the net revenue guidance to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict the magnitude and timing of all the components, including subcontractor costs, required to provide such reconciliation with sufficient precision.

<sup>3</sup> The only adjustments in our guidance for EPS are to exclude the gain on business disposition and contingent consideration in the first quarter of fiscal 2026.

**Reconciliation of GAAP and Non-GAAP Items**

**In thousands (except EPS data)**

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **December 28,<br> 2025** | **December 29,**<br> **2024** |
| Revenue | $1210663 | $1420561 |
| &nbsp;&nbsp;&nbsp;USAID/DOS | (56374) | (283905) |
| Revenue excl. USAID/DOS | $1154289 | $1136656 |
| Revenue | $1210663 | $1420561 |
| &nbsp;&nbsp;&nbsp;Subcontractor costs | (173487) | (223231) |
| Net revenue | $1037176 | $1197330 |
| &nbsp;&nbsp;&nbsp;USAID/DOS | (50606) | (238517) |
| Net revenue excl. USAID/DOS | $986570 | $958813 |
| Operating Income | $140994 | $22526 |
| &nbsp;&nbsp;&nbsp;Contingent consideration | (7447) | (366) |
| &nbsp;&nbsp;&nbsp;Legal contingency | - | 115000 |
| Adjusted Operating Income | $133547 | $137160 |
| &nbsp;&nbsp;&nbsp;USAID/DOS | (2746) | (19987) |
| Adjusted OI excl. USAID/DOS | $130801 | $117173 |
| EPS | $0.40 | $0.00 |
| &nbsp;&nbsp;&nbsp;Contingent consideration | (0.02) |  |
| &nbsp;&nbsp;&nbsp;Gain on business disposition | (0.03) |  |
| &nbsp;&nbsp;&nbsp;Legal contingency | - | 0.35 |
| Adjusted EPS | $0.35 | $0.35 |
| &nbsp;&nbsp;&nbsp;USAID/DOS | (0.01) | (0.06) |
| Adjusted EPS excl. USAID/DOS | $0.34 | $0.29 |

---

**About Tetra Tech**

Tetra Tech is the leader in water, environment and sustainable infrastructure, providing high-end consulting and engineering services for projects worldwide. With more than 25,000 employees working together, Tetra Tech provides clear solutions to complex problems by *Leading with Science<sup>®</sup>* to address the entire water cycle, protect and restore the environment, and design sustainable and resilient infrastructure. For more information about Tetra Tech, please visit <u>tetratech.com</u> or follow us on <u>LinkedIn</u> and <u>Facebook</u>.

CONTACTS:

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

*<u>Forward-Looking Statements</u>*

*This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as "anticipate," "expect," "could," "may," "intend," "plan" and "believe," among others, generally identify forward-looking statements. These forward-looking statements are based on current expectations and beliefs of Tetra Tech's management and currently available operating, financial, economic and other information, and are subject to a number of risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. A variety of factors, many of which are beyond our control, could cause actual future results or events to differ materially from those projected in the forward-looking statements in this release, including but not limited to: continuing worldwide political and economic uncertainties; the U.S. Administration's potential changes to fiscal policies; the cyclicality in demand for our overall services; the fluctuation in demand for oil and gas, and mining services; risks related to international operations; concentration of revenues from U.S. government agencies and potential funding disruptions by these agencies; dependence on winning or renewing U.S. government contracts; the delay or unavailability of public funding on U.S. government contracts; the U.S. government's right to modify, delay, curtail or terminate contracts at its convenience; compliance with government procurement laws and regulations; the impact of global pandemics; credit risks associated with certain clients in certain geographic areas or industries; acquisition strategy and integration risks; goodwill or other intangible asset impairment; the failure to comply with worldwide anti-bribery laws; the failure to comply with domestic and international export laws; the failure to properly manage projects; the loss of key personnel or the inability to attract and retain qualified personnel; the ability of our employees to obtain government granted eligibility; the use of estimates and assumptions in the preparation of financial statements; the ability to maintain adequate workforce utilization; the use of the percentage-of-completion method of accounting; the inability to accurately estimate and control contract costs; the failure to adequately recover on our claims for additional contract costs; the failure to win or renew contracts with private and public sector clients; growth strategy management; backlog cancellation and adjustments; risks relating to cyber security breaches; the failure of partners to perform on joint projects; the failure of subcontractors to satisfy their obligations; requirements to pay liquidated damages based on contract performance; the adoption of new legal requirements; changes in resource management, environmental or infrastructure industry laws, regulations or programs; changes in bank and capital markets and the access to capital; credit agreement covenants; industry competition; liability related to legal proceedings, investigations, and disputes; the availability of third-party insurance coverage; the ability to obtain adequate bonding; employee, agent, or partner misconduct; employee risks related to international travel; safety programs; conflict of interest issues; liabilities relating to reports and opinions; liabilities relating to environmental laws and regulations; force majeure events; protection of intellectual property rights; stock price volatility; the ability to impede a business combination based on Delaware law and charter documents; and other risks and uncertainties as may be described in Tetra Tech's periodic filings with the Securities and Exchange Commission, including those described in the "Risk Factors" section of Tetra Tech's Annual Report on Form 10-K for the fiscal year ended September 28, 2025. Readers should not place undue reliance on forward-looking statements since such information speaks only as of the date of this release. Tetra Tech does not intend to update forward-looking statements and expressly disclaims any obligation to do so.*

*<u>Non-GAAP Financial Measures</u>*

*To supplement the financial results presented in accordance with generally accepted accounting principles in the United States ("GAAP"), we present certain non-GAAP financial measures within the meaning of Regulation G under the Securities Exchange Act of 1934, as amended. We provide these non-GAAP financial measures because we believe they provide a valuable perspective on our financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, GAAP measures. In addition, other companies may define non-GAAP measures differently which limits the ability of investors to compare non-GAAP measures of Tetra Tech to those used by our peer companies. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is set forth above in this release.*

**Tetra Tech, Inc.**

**Balance Sheet - Unaudited**

**(unaudited - in thousands, except par value)**

---

| | | |
|:---|:---|:---|
|  | **December 28,**<br>**2025** | **September 28,**<br>**2025** |
| **Assets** |  |  |
| &nbsp;&nbsp;&nbsp;**Current assets:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | 269448 | 167459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable, net | 1082417 | 1158928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract assets | 140429 | 138232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets | 112145 | 98768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets held-for-sale | - | 57502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets | 1604439 | 1620889 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 65395 | 66148 |
| &nbsp;&nbsp;&nbsp;Right-of-use assets, operating leases | 199552 | 197618 |
| &nbsp;&nbsp;&nbsp;Goodwill | 2065914 | 2049874 |
| &nbsp;&nbsp;&nbsp;Intangible assets, net | 113567 | 121160 |
| &nbsp;&nbsp;&nbsp;Deferred tax assets | 92638 | 106238 |
| &nbsp;&nbsp;&nbsp;Other non-current assets | 123222 | 120247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total assets** | **4264727** | **4282174** |
| **Liabilities and Equity** |  |  |
| &nbsp;&nbsp;&nbsp;**Current liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | 196730 | 204725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued compensation | 221817 | 346912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract liabilities | 435373 | 420254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term lease liabilities, operating leases | 69681 | 69099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current contingent earn-out liabilities | 18093 | 24826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liabilities held-for-sale |  | 25115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other current liabilities | 279100 | 288113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current liabilities | 1220794 | 1379044 |
| &nbsp;&nbsp;&nbsp;Deferred tax liabilities | 20171 | 21333 |
| &nbsp;&nbsp;&nbsp;Long-term debt | 834256 | 763363 |
| &nbsp;&nbsp;&nbsp;Long-term lease liabilities, operating leases | 154444 | 154695 |
| &nbsp;&nbsp;&nbsp;Non-current contingent earn-out liabilities | 33299 | 32135 |
| &nbsp;&nbsp;&nbsp;Other non-current liabilities | 155125 | 151440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 2418089 | 2502010 |
| **Equity:** |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock - authorized, 2,000 shares of $0.01 par value; no shares issued and outstanding at December 28, 2025 and September 28, 2025 |  |  |
| &nbsp;&nbsp;&nbsp;Common stock - authorized, 750,000 shares of $0.01 par value; issued and outstanding, 260,811 and 261,418 shares at December 28, 2025 and September 28, 2025, respectively | 2608 | 2614 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (76356) | (95777) |
| &nbsp;&nbsp;&nbsp;Retained earnings | 1919840 | 1872948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tetra Tech stockholders' equity | 1846092 | 1779785 |
| &nbsp;&nbsp;&nbsp; Noncontrolling interests | 546 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total stockholders' equity | 1846638 | 1780164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities and stockholders' equity** | **4264727** | **4282174** |

---

**Tetra Tech, Inc.**

**Consolidated Statements of Income**

**(unaudited - in thousands, except per share data)**

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **December 28,**<br>**2025** | **December 29,**<br>**2024** |
| Revenue | $1210663 | $1420561 |
| Subcontractor costs | (173487) | (223231) |
| Other costs of revenue | (816805) | (975853) |
| &nbsp;&nbsp;&nbsp;Gross profit | 220371 | 221477 |
| Selling, general and administrative expenses | (86824) | (84317) |
| Legal contingency costs |  | (115000) |
| Contingent consideration - fair value adjustments | 7447 | 366 |
| Income from operations | 140994 | 22526 |
| Interest expense, net | (7128) | (7218) |
| Other non-operating income | 7710 | - |
| &nbsp;&nbsp;&nbsp;Income before income tax expense | 141576 | 15308 |
| Income tax expense | (36354) | (14530) |
| &nbsp;&nbsp;&nbsp;Net income | 105222 | 778 |
| &nbsp;&nbsp;&nbsp;Net income attributable to noncontrolling interests | (194) | (31) |
| &nbsp;&nbsp;&nbsp;Net income attributable to Tetra Tech | $105028 | $747 |
| Earnings per share attributable to Tetra Tech: |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $0.40 | $- |
| &nbsp;&nbsp;&nbsp;Diluted | $0.40 | $- |
| Weighted-average common shares outstanding: |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 260809 | 267854 |
| &nbsp;&nbsp;&nbsp;Diluted | 262731 | 271886 |

---

**Tetra Tech, Inc.**

**Consolidated Statements of Cash Flows**

**(unaudited - in thousands)**

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **December 28,**<br>**2025** | **December 29,**<br>**2024** |
| **Cash flows from operating activities:** |  |  |
| Net income | $105222 | $778 |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 13996 | 16063 |
| &nbsp;&nbsp;&nbsp;Amortization of stock-based awards | 8182 | 8142 |
| &nbsp;&nbsp;&nbsp;Deferred income taxes | 13085 | 767 |
| &nbsp;&nbsp;&nbsp;Provision for losses on accounts receivables | 960 |  |
| &nbsp;&nbsp;&nbsp;Gain on sale of divested business | (7710) |  |
| &nbsp;&nbsp;&nbsp;Fair value adjustments to contingent consideration | (7447) | (366) |
| &nbsp;&nbsp;&nbsp;Other non-cash items | 861 | 1141 |
| Changes in operating assets and liabilities, net of effects of divestiture: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable and contract assets | 79945 | (91725) |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (17927) | (26186) |
| &nbsp;&nbsp;&nbsp;Accounts payable | (8824) | 44194 |
| &nbsp;&nbsp;&nbsp;Accrued compensation | (126658) | (101641) |
| &nbsp;&nbsp;&nbsp;Contract liabilities | 13213 | 27527 |
| &nbsp;&nbsp;&nbsp;Income taxes receivable/payable | 2450 | (1538) |
| &nbsp;&nbsp;&nbsp;Cash settled contingent earn-out liability |  | (2720) |
| &nbsp;&nbsp;&nbsp;Other liabilities | 2919 | 138627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net cash provided by operating activities** | **72267** | **13063** |
| **Cash flows from investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Capital expenditures | (4152) | (3433) |
| &nbsp;&nbsp;&nbsp;Proceeds from divested business, net | 41612 | - |
| **Net cash provided by (used in) investing activities** | **37460** | **(3433)** |
| **Cash flows from financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from borrowings | 70000 | 90000 |
| &nbsp;&nbsp;&nbsp;Repayments on long-term debt |  | (15000) |
| &nbsp;&nbsp;&nbsp;Repurchases of common stock | (50000) | (25000) |
| &nbsp;&nbsp;&nbsp;Shares repurchased for tax withholdings on share-based awards | (11864) | (13307) |
| &nbsp;&nbsp;&nbsp;Payments of contingent earn-out liabilities |  | (145) |
| &nbsp;&nbsp;&nbsp;Stock options exercised | 10 | 114 |
| &nbsp;&nbsp;&nbsp;Dividends paid | (16937) | (15549) |
| &nbsp;&nbsp;&nbsp;Principal payments on finance leases | (2083) | (1719) |
| **Net cash provided by (used in) financing activities** | **(10874)** | **19394** |
| Effect of exchange rate changes on cash and cash equivalents | 2223 | (13609) |
| Net increase in cash and cash equivalents | 101076 | 15415 |
| Cash and cash equivalents at beginning of period | 168372 | 232689 |
| **Cash and cash equivalents at end of period** | $**269448** | $**248104** |

---

**Tetra Tech, Inc.**

**Regulation G Information**

**December 28, 2025**

**<u>Reconciliation of Revenue to Revenue, Net of Subcontractor Costs ("Net Revenue")</u>**

**(in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2026** |
|  | **2023** | **2024** | **1st Qtr** | **2nd Qtr** | **6 Mos** | **3rd Qtr** | **9 Mos** | **4th Qtr** | **Full Year** | **1st Qtr** |
| **<u>Consolidated</u>** |  |  |  |  |  |  |  |  |  |  |
| Revenue | 4522.6 | 5198.7 | 1420.6 | 1322.1 | 2742.7 | 1369.8 | 4112.5 | 1330.1 | 5442.6 | 1210.7 |
| Subcontractor Costs | (771.5) | (876.8) | (223.3) | (218.4) | (441.7) | (216.8) | (658.5) | (166.8) | (825.3) | (173.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net Revenue | 3751.1 | 4321.9 | 1197.3 | 1103.7 | 2301.0 | 1153.0 | 3454.0 | 1163.3 | 4617.3 | 1037.2 |
| **<u>GSG Segment</u>** |  |  |  |  |  |  |  |  |  |  |
| Revenue | 2300.7 | 2624.2 | 791.4 | 698.9 | 1490.2 | 709.4 | 2199.6 | 628.9 | 2828.6 | 525.5 |
| Subcontractor Costs | (484.3) | (540.5) | (144.0) | (134.6) | (278.5) | (136.8) | (415.3) | (88.4) | (503.7) | (93.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net Revenue | 1816.4 | 2083.7 | 647.4 | 564.3 | 1211.7 | 572.6 | 1784.3 | 540.5 | 2324.9 | 432.1 |
| **<u>CIG Segment</u>** |  |  |  |  |  |  |  |  |  |  |
| Revenue | 2292.7 | 2634.4 | 644.9 | 637.8 | 1282.6 | 676.6 | 1959.1 | 721.2 | 2680.2 | 704.2 |
| Subcontractor Costs | (358.0) | (396.2) | (94.9) | (98.3) | (193.2) | (96.1) | (289.4) | (98.3) | (387.7) | (99.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net Revenue | 1934.7 | 2238.2 | 550.0 | 539.5 | 1089.4 | 580.5 | 1669.7 | 622.9 | 2292.5 | 605.1 |

---

**<u>Reconciliation of Net Income Attributable to Tetra Tech to Adjusted EBITDA</u>**

**(in thousands)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2026** |
|  | **2023** | **2024** | **1st Qtr** | **2nd Qtr** | **6 Mos** | **3rd Qtr** | **9 Mos** | **4th Qtr** | **Full Year** | **1st Qtr** |
| Net Income Attributable to Tetra Tech | 273420 | 333382 | 747 | 5388 | 6135 | 113844 | 119979 | 127745 | 247724 | 105028 |
| Income Tax Expense | 127526 | 130023 | 14530 | 25700 | 40230 | 42815 | 83045 | 46624 | 129668 | 36354 |
| Interest Expense<sup>1</sup> | 46537 | 37271 | 7218 | 8491 | 15709 | 8287 | 23996 | 6806 | 30802 | 7128 |
| Depreciation | 19980 | 23722 | 5402 | 5248 | 10650 | 5410 | 16059 | 5115 | 21175 | 5608 |
| Amortization | 41226 | 49955 | 10660 | 8629 | 19289 | 8287 | 27577 | 9524 | 37101 | 8387 |
| FX Hedge Gain | (89402) |  |  |  |  |  |  |  |  |  |
| Gain on sale of divested business | - | - | - | - | - | - | - | - | - | (7710) |
| &nbsp;&nbsp;&nbsp;&nbsp;**EBITDA** | **419287** | **574353** | **38557** | **53456** | **92013** | **178643** | **270656** | **195814** | **466470** | **154795** |
| Contingent Consideration | 12255 | 2541 | (366) | (1931) | (2297) | (58) | (2355) | (9873) | (12228) | (7447) |
| Goodwill Impairment |  |  |  | 92416 | 92416 |  | 92416 |  | 92416 |  |
| Acquisition & Integration Expenses<sup>2</sup> | 49554 | 7138 |  |  |  |  |  |  |  |  |
| Legal Contingency Costs | - | - | 115000 | - | 115000 | - | 115000 | - | 115000 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;**Adjusted EBITDA** | **481096** | **584032** | **153191** | **143941** | **297132** | **178585** | **475717** | **185941** | **661658** | **147348** |

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<sup>1</sup> Includes write-off of deferred debt origination fees of $3.8M in fiscal 2023

<sup>2</sup> Includes lease impairment charge of $16.4M in fiscal 2023