Tetra Tech, Inc. (TTEK) looks well positioned to benefit from the recent democratic presidential victory because of the parties desire to build and strengthen the countries infrastructure by investing in roads, bridges and sources of alternative energy. The company is scheduled to report its fourth quarter results on Nov 12.

Company Description

Tetra Tech, Inc. provides infrastructure and environmental engineering and consulting services in the United States and Internationally. The company was founded in 1966 and has a market cap of $1.22 billion.

Third-Quarter Results

Tetra Tech, announced third-quarter results on July 30th that were ahead of analyst estimates. Net Revenue was $332.3 million, up 29.6% year-over-year from $256.3 million.

The largest gains were seen in government and commercial business which had year-over-year increases of 34% and 36%, respectively. Heavier workloads by government agencies and several wind power projects were the source of the additional business.

Consistent Earnings

This produced earnings per share of 27 cents, up 28.6% from 21 cents in the same quarter last year. The EPS announcement beat the consensus estimate, which was 24 cents, by 12.5%. This was the fourth earnings surprise in as many quarters, each averaging 10.3%.

This was the fourth time in four quarters that the company has surprised and beaten analyst estimates, having done so by an average of 2 cents, or 10%.

Scoring New Projects

On Oct 9 Tetra Tech announced that it had landed 3 new contracts worth a total of $69 million to provide engineering and construction services at various wind farms Incorporatedluding one owned by Oklahoma Gas & Electric Co in Woodward Oklahoma.

Analyst Estimates

The analyst community remains bullish on the company, with the next-year estimate pegged at $1.16 per share, a 16% earnings growth projection.

The Chart

Shares of TTEK have been in a bullish mood since finding a short-term bottom in early October, rallying from below $15 to a recent high above $22. Take a look at the chart below.

Content Courtesy: Zacks Investment Research

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