Tetra Tech Stock Price, News & Analysis

Tetra Tech (NASDAQ: TTEK) has announced an all-cash acquisition of RPS Group plc for 222 pence per share. The deal, unanimously recommended by RPS Group's Board, will create a premier global consultancy in water, environment, and energy transformation with 26,000 associates. The acquisition is expected to be mid to high teen percent accretive to adjusted earnings per share (EPS) and will realize £21 million in cost synergies. Tetra Tech secured financing of £714 million and a 350 million USD New Credit Facility to facilitate the transaction.

Tetra Tech, Inc. (NASDAQ: TTEK) has secured an 18-month technical assistance contract from the U.S. Trade and Development Agency to enhance Mexico's civil aviation infrastructure. This initiative will utilize Tetra Tech's advanced data analytics and simulation models to create a national civil aviation master plan for the Mexican Federal Civil Aviation Agency. The project aims to improve airspace communications, navigation, and air traffic management, aligning with the Mexican government's transportation oversight priorities.

Tetra Tech, Inc. (NASDAQ: TTEK) announced that the U.S. Army Corps of Engineers (USACE), Los Angeles District, selected the company for a $49.5 million contract to provide environmental consulting and engineering services across California, Nevada, and Arizona. The contract spans five years and includes an initial task order valued at $4.7 million for remediation of 134 acres in San Diego, California. Tetra Tech continues its partnership with the USACE, contributing over two decades of experience in environmental cleanup programs.

Tetra Tech reported record third-quarter results for the period ending July 3, 2022, with revenue of $890 million, a year-over-year increase of 11%. Net revenue rose 13% to $720 million, while operating income increased 20% to $84 million, and EPS grew 15% to $1.09. Cash generated from operations hit $98 million, up 42%, and backlog increased 8% to $3.51 billion. The Board approved a $0.23 per share dividend, reflecting a 15% increase, and announced a $50 million share repurchase.

Tetra Tech, Inc. (NASDAQ: TTEK) announces the promotion of Jill M. Hudkins to President, effective October 3, 2022. She will oversee strategic planning and operations, succeeding Dr. Leslie Shoemaker, who transitions to Chief Sustainability and Leadership Development Officer. Hudkins brings over 24 years of experience and expertise in innovative water treatment solutions. Dr. Shoemaker will enhance Tetra Tech's sustainability initiatives, targeting the improvement of lives for a billion people through industry-leading projects.

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $500 million contract by the U.S. Army Corps of Engineers to provide environmental remediation services for the Department of Defense outside the continental United States (OCONUS). This contract involves the identification, recovery, and remediation of hazardous waste, leveraging Tetra Tech's expertise in real-time data collection and GIS technology. The company's longstanding relationship with the U.S. Army includes over 20 years of support for environmental cleanup programs.

Tetra Tech, Inc. (NASDAQ: TTEK) announced the schedule for its third quarter 2022 financial results and conference call. The company will release its results after market close on August 3, 2022. A conference call will follow on August 4, 2022, at 8:00 a.m. Pacific Time. The call will be accessible via a live webcast on the company's investor relations page. Tetra Tech is recognized for its high-end consulting and engineering services in sectors such as water and environment. For further information, visit tetratech.com.

Tetra Tech, Inc. (NASDAQ: TTEK) has enhanced its digital water practice through the acquisition of The Integration Group of Americas (TIGA), a leader in process automation and systems integration. The addition of TIGA brings high-end software engineering and advanced data analytics capabilities to Tetra Tech, expanding its services in water, environmental, and energy sectors. The terms of the acquisition were not disclosed, and TIGA will be integrated into Tetra Tech’s Government Services Group.