11:46 AM EST, 01/30/2025 (MT Newswires) -- (Updates with details about revised guidance in the sixth paragraph and the latest stock price movement in the last paragraph.)

Tetra Tech (TTEK) reported fiscal Q1 adjusted earnings late Wednesday of $0.35 per share, up from $0.28 a year earlier.

Analysts polled by FactSet expected $0.33.

Net revenue for the quarter ended Dec. 29 was $1.20 billion, up from $1.02 billion a year earlier. Analysts surveyed by FactSet expected $1.10 billion.

For fiscal Q2, the company expects net revenue of $1 billion to $1.1 billion. Analysts expect $1.11 billion.

For fiscal 2025, Tetra revised its adjusted EPS outlook to $1.37 to $1.52 from $1.40 to $1.50. The company updated net revenue guidance to between $4.37 billion and $4.77 billion, compared with earlier estimates of $4.57 billion to $4.77 billion. Analysts are looking for $1.44 on revenue of $4.62 billion.

The company said the revised outlook includes the potential impact of an ongoing US federal government review process. Tetra Tech has paused some of its federal government work at the direction of the new administration, especially with USAID, the company said.

Tetra Tech shares were down more than 11% in recent Thursday trading.

Price: 33.38, Change: -4.29, Percent Change: -11.39