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| Statement |
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| Our backlog was up 25% year-on-year on strong, very broad-based orders, increasing by $874 million from the same quarter last year and ending the quarter at another all-time high of $4.38 billion |
| So far to date, compared to our original projections, we are seeing improved margin opportunities based on our joint integration efforts with the RPS leadership team and increasing levels of revenue synergies |
| [Technical Difficulty] performance have all exceeded our very high expectations here |
| This is our 37th consecutive quarterly dividend and our ninth consecutive year of double-digit year-over-year increases for dividends paid |
| This is a sustainable improvement from prior years, and the slower DSO continues the trend that reflects the outstanding work that our project managers lead relative to higher-quality projects and highly satisfied clients in our broad portfolio across all of our end markets and all of our geographies |
| These actions will result in additional onetime integration costs in the fourth quarter that will provide increased long-term operating and financial benefits to the ongoing business |
| So cash flows generated from operations was strong, totaling $133 million, up 35% over last year |
| So that work is really coming primarily out of Canada, out of Ontario for us, a fantastic group, great management team, excellent technical leaders, and that's something that could actually be an outperformer even above the strong performance across the board |
| Our growth catalysts and the margin expansion will continue to be underpinned by leveraging our Tetra Tech Delta technologies that we're utilizing all across our enterprise |
| Deployment of our Tetra Tech Delta technologies continue to support significantly higher profit margins on increased revenues without having to add the traditional associated increases in headcount |
| Is there opportunity for above-average booking and revenue growth across that market, especially in your water and, say, the renewable side? Dan Batrack Renewables has been very strong up there |
| The collective Tetra Tech operations, including the first full quarter of the RPS Group being with the corporation had strong performance, exceeding our already very high expectations |
| It is -- some of it is actually pricing power because some of the work that we're doing is very high demand, very fast track that has to be done |
| Our EBITDA income increased 33% from last year, reaching a record high of $119 million in the quarter |
| So you're right with respect to what we posted up to this point, sort of mid-teens organic growth on our revenue and slightly better than that on our earnings |
| So as you just heard from Dan, we had an excellent quarter with results coming in better than anticipated |
| We had an excellent third quarter |
| And through these improved RPS profit margins and cash flows, along with Tetra Tech's strong positive cash flows from operations, we expect to continue to delever our balance sheet |
| In summary, we're seeing strong demand for our differentiated leading with science approach in water, environment and sustainable infrastructure |
| I think that the priority on being best-in-class being a technical leader and that it's about quality, not quantity, has aligned very well with us |
| And of course, we feel very proud, and we think it's a great metric looking forward with ending the quarter with an all-time high backlog |
| Operating income and EBITDA grew even faster than revenue with being up 17% and 16%, respectively |
| And finally, even with record revenues up in the quarter, our backlog increased to a new high of $4.39 billion, up 25% from last year |
| We are one and the same, but I think the performance of the I guess I'll call it underlying our legacy company has been so strong, and I want to track the contributions of RPS |
| And by focusing on high-end differentiated services and revenues while integrating the business onto our ERP system platform and our corporate systems for greater cost synergies, we'd increased the margins for those businesses from about breakeven prior to joining Tetra Tech to the current Tetra Tech double-digit levels |
| and Australia, could have been stronger with respect to revenue although we've had some really nice orders as far as forward-looking project assignments come out of Australia |
| Really one of the strongest metrics and performance areas of the corporation in the quarter was our backlog |
| And I was really pleased to see we've done well in our state and local business |
| I would actually characterize it as an exciting quarter in that we saw high performance across the board in all of our end markets |
| The rapid integration of RPS is actually exceeding our expectations |
| Statement |
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| Another emerging issue is the presence of pharmaceutical residuals in water, which are very challenging to remove |
| So water has been a big issue |
| You're really challenging the Tetra Tech folks now teams or at least the expiration for sure |
| It was, in some ways, I've had some around here, say it was a an unexciting quarter because it was really very broad-based |
| I don't want to make this a negative item, but there have been a lot of economic activity coming out of Canada, which means a lot of rail |
| And that's why we've seen -- I think I've seen very little or no disruption on the workforce with respect to those that are client-facing and project facing |
| and Australia that was a little bit slower in their international development work |
| 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 |
| And it's typically our backlog will burn off in a year |
| But if you've taken into effect some of the short headwinds we had in some of the international development in places like the U.K |
| The -- you didn't hear a specific area of beat with respect to any single unusual contributor, whether or not a quarter ago in the second quarter, we had an extraordinary unexpected contribution for work from USA in Ukraine, but that was not the case |
| It's going to bring revenue, and it's going to be a disassociating the need to hire people just to make that happen |
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