Tetra Tech Stock Price, News & Analysis

Tetra Tech, Inc. (NASDAQ: TTEK) has secured an $86 million contract to provide IT support for U.S. Space Force systems. This 6.5-year agreement will see Tetra Tech's Federal IT Group deliver technology services essential for mission-critical operations. The company's Chairman and CEO, Dan Batrack, emphasized leveraging their Leading with Science approach to enhance system management. Tetra Tech aims to provide integrated digital solutions for timely information delivery across these critical facilities.

Tetra Tech, Inc. (NASDAQ: TTEK) has appointed Christiana Obiaya as a new Board Member, effective January 2, 2023. Obiaya possesses around 20 years of experience in finance, strategy, and project management, focusing on energy and infrastructure development. She has previously served as CFO for Bechtel's Energy unit and currently leads financial operations at Heliogen, a renewable energy firm. Her expertise is expected to enhance Tetra Tech's capabilities in sustainable solutions and decarbonization efforts.

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $38 million contract by the U.S. Agency for International Development (USAID) under the Climate Adaptation Support Activity (CASA) program. This five-year contract aims to enhance global climate adaptation and resilience initiatives. Tetra Tech's experts will develop predictive climate models to formulate disaster risk reduction strategies across various sectors. This contract reinforces Tetra Tech’s long-standing partnership with USAID, focusing on sustainable solutions to mitigate climate change impacts.

Tetra Tech, Inc. (NASDAQ: TTEK) reported record quarterly revenue of $903 million and annual revenue of $3.50 billion for the fiscal year ending October 2, 2022. Fourth-quarter net revenue reached $736 million, a 12% year-over-year increase. Operating income rose to $95 million, up 29% year-over-year, with an adjusted EPS of $1.26, marking a 30% increase. The company also achieved a record backlog of $3.74 billion. Tetra Tech announced a 15% dividend increase, complemented by a $50 million share repurchase.

Chairman Dan Batrack highlighted strong momentum from federal funding and the upcoming acquisition of RPS Group.

Tetra Tech, Inc. (NASDAQ: TTEK) has secured a $35 million contract from the U.S. Agency for International Development (USAID) focused on enhancing water use efficiency in Jordan. This five-year initiative aims to support sustainable water management through market-based solutions, benefiting the government and local stakeholders. Tetra Tech's expertise will contribute to advancing water security and mitigating climate change impacts.

Tetra Tech, Inc. (NASDAQ: TTEK) has secured a $108 million, five-year blanket purchase agreement with the U.S. Department of Energy. This contract will provide environmental support services aimed at assessing the potential impacts of energy projects. Tetra Tech will utilize advanced analytics and predictive modeling under its Leading with Science® methodology. CEO Dan Batrack emphasized the company's longstanding collaboration with the Department of Energy, focusing on scientific assessments for future projects.

Tetra Tech, Inc. (NASDAQ: TTEK) announced the dates for its fourth quarter and fiscal 2022 financial results. The company will report these results on November 9, 2022, after market close, followed by a conference call on November 10, 2022, at 8:00 a.m. PT to discuss the outcomes and future outlook. Investors can access the live audio-visual webcast on Tetra Tech's investor relations webpage. Tetra Tech is recognized for its consulting and engineering services across various sectors, emphasizing sustainability and resilience in its projects.

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.