Tetra Tech Stock Price, News & Analysis

Tetra Tech, Inc. (NASDAQ: TTEK), a leader in consulting and engineering services, has announced the schedule for its second quarter 2023 results. The company will release its financial results on May 10, 2023, after the market closes. A conference call to discuss these results and the company's outlook will take place on May 11, 2023, at 8:00 a.m. Pacific Time.

Investors can access the live audio-visual webcast via the company's website. Tetra Tech offers solutions in various sectors including water management, environmental issues, and renewable energy, with a workforce of 27,000 employees. The upcoming earnings report is eagerly awaited by stakeholders for insights into the company’s performance.

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a five-year, $105 million Blanket Purchase Agreement by the U.S. Environmental Protection Agency (EPA) Office of Water. This contract aims to restore and protect watersheds across the United States by analyzing surface water and coastal ecosystems affected by pollution and climate change. Tetra Tech will utilize its expertise in developing monitoring programs, predictive models, and technical guidance to enhance aquatic environments and human health. This marks Tetra Tech's tenth consecutive contract with the EPA for watershed management, reinforcing its long-term collaboration with the agency.

Tetra Tech, Inc. (NASDAQ: TTEK) has secured a $200 million multiple-award contract from the U.S. Army Corps of Engineers, Far East District to provide architect-engineer (A-E) services in the Republic of Korea. This five-year contract involves site investigations, engineering design document preparation, and program management for U.S. military support in the Pacific region. Tetra Tech plans to incorporate Leadership in Energy and Environmental Design (LEED) practices into the projects. The relationship with the U.S. Army Corps of Engineers spans nearly 50 years, indicating a strong partnership.

Tetra Tech reported record financial results for the first quarter ended January 1, 2023. Key metrics include net revenue of $737 million, and EPS of $2.18, with adjusted EPS at $1.34, reflecting a 13% year-over-year increase. The backlog reached $3.81 billion, an 11% increase from the previous year. The company declared a $0.23 quarterly dividend, marking a 15% increase year-over-year. Tetra Tech expects EPS for the second quarter between $1.03 and $1.08, while increasing its fiscal 2023 EPS guidance to $4.90 to $5.05.

Tetra Tech, Inc. (NASDAQ: TTEK) has received a $42 million ceiling increase to its existing $17 million contract with the U.S. Agency for International Development (USAID) to boost energy security in the Republic of Moldova. This contract, awarded initially in March 2022, aims to integrate Moldova’s power grid with Europe’s, promoting cleaner energy solutions and enhancing investment in renewable resources. Tetra Tech will also assist in developing the country's first National Energy and Climate Plan, targeting energy security and efficiency improvements.