Tetra Tech grows revenue with 2021 financial report
In fiscal 2021, Tetra Tech’s revenue increased 7.3% compared to fiscal 2020. This year-over-year growth primarily reflects increased activity with government clients, both U.S. and international, as federal and local government agency spending has been a source of economic stability and stimulus during the COVID-19 (coronavirus) pandemic. However, this growth was partially offset by lower commercial activity, which has been slower to recover to pre-pandemic levels. The company’s year-over-year revenue comparisons were also impacted by thed ecision to dispose of its Canadian turn-key pipeline activities in fiscal 2019 and the subsequent wind-down of those activities in fiscal 2020.
COVID|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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