Tetra Tech

Q2 FY2026 EarningsQ2 FY26 results beat consensus on revenue ($185.7M vs. $176.0M expected) and GAAP EPS ($0.07 vs. $0.075 mid-point), supported by strong performance in international water services and specialty chemicals. Despite the top-line beat, gross margin of 24.6% missed the 26.15% estimate due to higher product costs and unfavorable mix. Operating cash flow for the first half of 2026 was robust at $22.5M, though capital expenditures reached $42.3M as the Arkansas Bromine Project enters Phase 2.