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Tt TETRA TECH Exhibit 99.1 NEWS RELEASE July 28 , 2021 Tetra Tech Reports Record Third Quarter 2021 Results Revenue of $ 802 million , up 13 % Y / Y Record Net Revenue of $ 638 million , up 14 % Y / Y EPS $ 0.95 , up 14 % Y / Y ; up 22 % Y / Y on an Adjusted Basis Record Backlog of $ 3.25 billion , book - to - bill 1.12x Pasadena , California . Tetra Tech , Inc. ( NASDAQ : TTEK ) , a leading provider of high - end consulting and engineering services , today announced results for the third quarter ended June 27 , 2021 . Third Quarter Results Revenue in the third quarter totaled $ 802 million , up 13 % year - over - year . Tetra Tech achieved record quarterly revenue , net of subcontractor costs ( net revenue ) ¹ , of $ 638 million , up 14 % year - over - year . EPS was $ 0.95 up 14 % and up 22 % on an adjusted basis year - over - year . Cash flow from operations was $ 69 million and days sales outstanding ( " DSO " ) declined five days year - over - year to 65 days , the lowest level in over 10 years . Backlog grew to an all - time high of $ 3.25 billion with increased orders for water and environmental services . Acquisition of Hoare Lea After the completion of the third quarter , on July 27 , 2021 , Tetra Tech announced that it has acquired Hoare Lea , a leader in sustainable engineering design . Established in 1862 , Hoare Lea is an award - winning , high - end consultancy firm in the United Kingdom , with more than 900 employees . The addition of Hoare Lea further advances Tetra Tech's industry - leading sustainable buildings solutions for commercial and government clients . Quarterly Dividend and Share Repurchase Program On July 26 , 2021 , Tetra Tech's Board of Directors declared a $ 0.20 per share dividend , an 18 % increase over the prior year , payable on September 3 , 2021 to stockholders of record as of August 20 , 2021. In the third quarter , Tetra Tech repurchased $ 15 million of common stock . Additionally , as of June 27 , 2021 , the Company had $ 163 million remaining under the approved share repurchase program . Chairman and CEO Comments Tetra Tech's Chairman and CEO , Dan Batrack , commented , “ Our business generated record third quarter results driven by strong double - digit revenue growth in both our U.S. state & local and international businesses . The demand to address the challenges of global climate change and sustainable infrastructure priorities are well aligned with our market leading positions in water and environment . Our Leading with Science® approach is in more demand than ever and augmented by Tetra Tech Delta , our suite of proprietary technologies and analytical tools . We continued to invest in long - term strategic growth areas by adding Hoare Lea who joins our global High Performance Buildings practice . Given our results to date and outlook , we are increasing our guidance outlook 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 Items .