Tetra Tech, Inc. (NASDAQ:TTEK) Q2 2022 Results Conference Call May 5, 2022 11:00 AM ET
Company Participants
Dan Batrack - Chairman and CEO
Steve Burdick - CFO
Conference Call Participants
Sean Eastman - KeyBanc Capital Markets
Noelle Dilts - Stifel
Tate Sullivan - Maxim Group
Alexander Leach - Berenberg Capital Markets
Operator
Good morning, and thank you for joining the Tetra Tech earnings call. By now, you should have received a copy of the press release. If you have not, please contact the company’s corporate office at (626) 351-4664. As a reminder, Tetra Tech is also simulcasting this presentation with slides in the Investors section of its website at www.tetratech.com. This call is being recorded at the request of Tetra Tech, and this broadcast is the copyright property of Tetra Tech. Any rebroadcast of this information in whole or part without the prior written permission of Tetra Tech is prohibited.
With us today from management are Dan Batrack, Chairman and Chief Executive Officer; and Steve Burdick, Chief Financial Officer. They will provide a brief overview of the results, and we’ll open up the call for questions.
I’d like to direct your attention to the safe harbor statement in today’s presentation. Today’s discussion contains forward-looking statements about future growth and financial expectations. Actual results may differ significantly from those projected in today’s forward-looking statements due to various risks and uncertainties, including the risks described in Tetra Tech’s periodic reports filed with the SEC. Except as required by law, Tetra Tech takes no obligation to update its forward-looking statements.
In addition, since management will be presenting some non-GAAP financial measures as references, the appropriate GAAP financial reconciliations are posted in the Investors section of Tetra Tech’s website. [Operator Instructions]
With that, I would like to turn the call over to Dan Batrack. Please go ahead, Mr. Batrack.
Dan Batrack
Great. Thank you very much, Melissa, and good morning, and welcome to our fiscal year 2022 second quarter earnings conference call. We had an excellent quarter with record second quarter revenue, net revenue and operating income. Our international and state and local markets grew at more than 20% year-over-year, driving an overall net revenue growth of 17% for the company for last year. This performance is a direct result of our successful long-term strategy to provide high-end differentiated services that are leading with science in the water and environmental markets. Our strategy has put us at the center of critical programs that are addressing many of the world’s climate change, resiliency and adaptation challenges across all of our global operations.