Welcome to our dedicated page for Tetra Tech news (Ticker: TTEK), a resource for investors and traders seeking the latest updates and insights on Tetra Tech stock.
Tetra Tech, Inc. (NASDAQ: TTEK) is an engineering and consulting company focused on water, environment, and sustainable infrastructure, and its news flow reflects this specialization. Company announcements highlight high-end consulting and engineering services for projects worldwide, emphasizing its Leading with Science® approach to the entire water cycle, environmental protection, and resilient infrastructure design.
On this news page, readers can review updates on major contract awards, project milestones, and strategic transactions. Recent releases describe multiple-award and single-award contracts with the U.S. Army Corps of Engineers and the U.S. Navy for environmental remediation, planning, and engineering services, as well as selection by the Missile Defense Agency for the SHIELD IDIQ contract. Other news covers international work, such as energy infrastructure support for EirGrid in Ireland and groundwater monitoring services for the Thames Tideway Tunnel project in the United Kingdom.
The news feed also includes corporate developments such as leadership changes, board appointments, and planned acquisitions. Examples include the planned appointment of a new Chief Executive Officer, promotions within the executive team, the addition of directors with deep experience in water and environmental services, and the definitive agreement to acquire Providence Consulting Group Pty Ltd in Australia to expand advisory and defense-related consulting capabilities.
Investors and followers of TTEK can use this page to track earnings announcements and financial updates, including quarterly and annual results, dividend declarations, and forward-looking guidance as disclosed in press releases. By reviewing these items together, readers gain insight into Tetra Tech’s evolving project portfolio, geographic reach, and strategic priorities in water, environmental, and infrastructure markets. Bookmark this page to access the latest TTEK news and historical announcements in one place.
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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.
Tetra Tech, Inc. (NASDAQ: TTEK) has announced a strategic partnership with Cognite, a leader in industrial SaaS, to enhance digital transformation for utility clients. This collaboration aims to integrate Tetra Tech's utility management expertise with Cognite's DataOps platform, enhancing the speed and efficiency of data innovation, digital transformation, and decarbonization efforts.
The partnership focuses on reducing data complexity and improving operational efficiency, aiming to cut down data management time by 90% and accelerate digital use case development by 10-25 times.
Tetra Tech, Inc. (NASDAQ: TTEK) reported record second-quarter results for the period ending April 3, 2022. Revenue reached $853 million, a 13% increase year-over-year, while net revenue was $700 million, up 17%. Earnings per share (EPS) jumped 18% to $0.98. The company boasted a backlog of $3.61 billion, a 15% growth. Tetra Tech announced a 15% dividend increase and repurchased $50 million in stock. With improved cash flow and net debt ratio of 0.2x, the company raised its fiscal 2022 net revenue and EPS guidance.
Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded U.S. Patent Number 11,269,957 for its Volans™ 3D animation and visualization software. This innovative platform significantly enhances environmental impact assessments for the aviation industry, notably reducing modeling time by up to 90%. Volans™ is utilized by the FAA and various global aviation authorities. Tetra Tech emphasizes the importance of patenting to protect its intellectual property, enabling continued advancements in sustainable aviation solutions.
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) has appointed Dr. Leslie L. Shoemaker as an independent director, effective immediately. Dr. Shoemaker, President of Tetra Tech (NASDAQ: TTEK), brings extensive experience in sustainability and environmental projects. She will serve on the Nominating and Corporate Governance Committee, enhancing Schnitzer's board with her expertise. This appointment increases the board to eight members, which supports Schnitzer's strategic initiatives and focus on sustainable growth.