Tetra Tech — May 5, 2025 release

  “In the last month, we announced strategic acquisitions expanding our global digital technology and program management businesses. Based on our strong performance, we increased our dividend by 12% and expanded our stock buyback program by an additional $500 million. With record year-to-date performance and a strong outlook, we are raising our FY25 guidance for net revenue and EPS.”         Business Outlook   The following statements are based on current expectations. These statements are forward-looking, and the actual results could differ materially. These statements do not include the potential impact of transactions that may be completed or developments that become evident after the date of this release. The Business Outlook section should be read in conjunction with the information on forward-looking statements at the end of this release.   During the quarter, we were notified that virtually all our contracts with USAID were terminated for convenience. Consequently, we performed an interim impairment review of the goodwill in our Global Development Services division. As a result, we reduced backlog by the value of the terminated contracts and recorded a non-cash goodwill impairment charge of $92.4 million in the second quarter of fiscal 2025. Tetra Tech has updated its guidance for fiscal year 2025 based on its current outlook, which includes the expected impact of the ongoing U.S. federal government revi