{
  "url": "https://struct.news/briefs/tetra-tech-slips-38-as-growth-cools-and-operating-margin-drops-21-points",
  "title": "Tetra Tech lost about $444M of U.S. federal revenue, cash kept the lights on",
  "summary": "Nine-month U.S. federal sales fell 32.5% (a $444.3M drop) after USAID contract cancellations and lower disaster work, but operating cash rose roughly $110M from collections on completed and terminated programs.",
  "published_at": "2026-07-31T20:39:33.254092+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": null,
    "ticker": "TTEK",
    "cik": "831641",
    "sector": null,
    "industry": null
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-07-31",
    "accession": "0000831641-26-000017",
    "url": "https://www.sec.gov/Archives/edgar/data/831641/000083164126000017/ttek-20260628.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-01",
    "url": "https://www.sec.gov/Archives/edgar/data/831641/000083164125000023/ttek-20250629.htm"
  },
  "reported_figures": [
    {
      "group": "Market and leverage snapshot",
      "label": "Market cap",
      "value": 8852456220,
      "display": "$8.9B",
      "unit": "usd",
      "period": "2025-09-28",
      "detail": null,
      "source": {
        "kind": "market_data",
        "label": "Observed market close",
        "as_of": "2026-07-31"
      }
    },
    {
      "group": "Market and leverage snapshot",
      "label": "Enterprise value",
      "value": 9448360220,
      "display": "$9.4B",
      "unit": "usd",
      "period": "2025-09-28",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0000831641-26-000017",
        "filing_date": "2026-07-31"
      }
    },
    {
      "group": "Market and leverage snapshot",
      "label": "Net debt",
      "value": 595904000,
      "display": "$595.9M",
      "unit": "usd",
      "period": "2025-09-28",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0000831641-26-000017",
        "filing_date": "2026-07-31"
      }
    }
  ],
  "watch_next": [
    {
      "type": "interest_rates",
      "statement": "Net interest expense decreased in Q3 and YTD fiscal 2026, attributed to lower borrowings and lower average debt interest rates.",
      "importance": "medium",
      "evidence": "Net interest expense $ 7,158 $ 8,288 $ (1,130) (13.6)% $ 23,124 $ 23,996 $ (872) (3.6)% Net interest expense decreased in the third quarter and first nine months of fiscal 2026 compared to the fiscal 2025 periods primarily due to lower borrowings and average debt interest rates.",
      "source_date": "2026-07-31"
    }
  ],
  "related_tickers": [
    "TTEK"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}