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Tt TETRA TECH EXHIBIT 99.1 NEWS RELEASE April 28 , 2021 Tetra Tech Reports Strong Second Quarter 2021 Results • Revenue $ 755 million and Net Revenue $ 600 million Operating Margin up 114 basis points Y / Y • • EPS $ 0.83 , up 26 % Y / Y • • Cash from Operations increased to $ 124 million , up 23 % Y / Y Increased quarterly dividend by 18 % to $ 0.20 Pasadena , California . Tetra Tech , Inc. ( NASDAQ : TTEK ) , a leading provider of high - end consulting and engineering services , today announced results for the second quarter ended March 28 , 2021 . Second Quarter Results Revenue in the second quarter totaled $ 755 million and revenue , net of subcontractor costs ( net revenue ) ¹ , was $ 600 million . Operating income was $ 61 million , up 28 % year - over - year , driven by a 114 basis point increase in operating margin . Earnings per share ( " EPS " ) was $ 0.83 , up 26 % year - over - year . Cash generated from operations was a record $ 124 million , up 23 % year - over - year . Backlog at the end of the quarter was $ 3.15 billion , up 5 % year - over - year . Quarterly Dividend and Share Repurchase Program On April 26 , 2021 , Tetra Tech's Board of Directors declared a $ 0.20 per share quarterly dividend , an 18 % increase over the prior year , payable on May 28 , 2021 to stockholders of record as of May 12 , 2021 ; the seventh consecutive double - digit annual increase . In the second quarter , Tetra Tech repurchased $ 15 million of common stock . Additionally , as of March 28 , 2021 , the Company had $ 178 million remaining under the approved share repurchase program . Chairman and CEO Comments Tetra Tech's Chairman and CEO , Dan Batrack , commented , " Tetra Tech continued to build on its strong start to fiscal year 2021 , generating record second quarter revenue and operating income on higher margins in both our government and commercial businesses . We achieved year - over - year double digit revenue growth for our U.S. state & local and U.S. federal water and environmental services by leveraging our Tetra Tech Delta suite of advanced data analytics and digital water technologies . We continued to invest in these strategic growth areas by adding Coanda Research & Development and IBRA - RMAC , leaders in computational fluid dynamics and digital water transformation . Given our results to date and outlook , we are increasing guidance for both net revenue and EPS for fiscal 2021. " 1 Non - GAAP financial measures which the Company believes provide valuable perspectives on its business results . Refer to Reconciliation of GAAP and non- GAAP Item .