TETRA TECH INCTTEK

TETRA TECH INC Earnings Per Share Disclosure

10-KFiled Nov 20, 20252 min read
Earnings per Share
Basic EPS is computed by dividing net income available to common stockholders by the weighted-average common shares outstanding for the period. Diluted EPS is computed by dividing net income by the weighted-average number of common shares outstanding and dilutive potential common shares for the period. Potential common shares include the weighted-average dilutive effects of stock-based awards and shares underlying our Convertible Notes.
For fiscal 2025 and fiscal 2024, our Convertible Notes, described in Note 9, "Long-Term Debt", had a dilution impact on the dilutive potential common shares, which was calculated using the if-converted method. The dilution impact was due to the price of our common stock exceeding the conversion price. The related Capped Call Transactions were excluded from the calculation of dilutive potential common shares as their effect is anti-dilutive. For fiscal 2025, 2024 and 2023, no options were excluded from the calculation of dilutive potential common shares.
The following table presents the number of weighted-average shares used to compute basic and diluted EPS (in thousands, except per share data):
Fiscal Year Ended
September 28,
2025		September 29,
2024		October 1,
2023
Net income attributable to Tetra Tech$247,724 $333,382 $273,420 
Weighted-average common shares outstanding – basic264,713 267,364 266,015 
Effect of diluted stock options and unvested restricted stock1,942 2,125 2,170 
Shares issuable assuming conversion of convertible notes468 553 — 
Weighted-average common stock outstanding – diluted267,123 270,042 268,185 
Earnings per share attributable to Tetra Tech:   
Basic$0.94 $1.25 $1.03 
Diluted$0.93 $1.23 $1.02 

Historical Timeline

Fiscal YearFiled
2025Nov 20, 2025Showing above
2024Nov 19, 2024
2023Nov 22, 2023
2022Nov 25, 2022
2021Nov 24, 2021
2020Nov 23, 2020
2019Nov 29, 2019
2018Nov 16, 2018
2017Nov 20, 2017
2016Nov 22, 2016
2015Nov 20, 2015

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

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