Revenue down 4.5% as USAID exit offsets international growth; $202M buyback continues

Filed July 31, 2026 · Period ending June 28, 2026 · Compared to 10-Q Aug 1, 2025 · ~1 min read

Key Changes

• high

  U.S. federal revenue fell 32.5% YoY ($1,368M → $924M) as USAID contracts canceled and disaster response work declined; excluding those items, federal revenue grew.

  MD&A: Revenue by Client Sector verify on EDGAR →
• high

  International revenue rose 4.5% YoY ($1,479M → $1,626M) on water utility and digital water projects; excluding acquisitions and Norway divestiture, organic growth ~4%.

  MD&A: Revenue by Client Sector verify on EDGAR →
• high

  Workforce reduced from 30,000 to 25,000 associates (16.7% decline), reflecting USAID contract cancellations and related adjustments.

  MD&A: Company Description verify on EDGAR →