Tetra Tech Stock Price, News & Analysis

Tetra Tech, Inc. (NASDAQ: TTEK) has announced the upcoming dates for its first quarter 2023 financial results and conference call. The company will release its results on February 1, 2023, after the market closes, followed by a conference call on February 2, 2023, at 8:00 a.m. Pacific Time. Investors can access the live webcast through Tetra Tech's website. The company provides consulting and engineering services globally, focusing on solving complex problems in various sectors, including water and renewable energy.

Tetra Tech has acquired Amyx, Inc., a cybersecurity and management consulting firm based in Reston, Virginia. This strategic acquisition aims to enhance Tetra Tech's Federal Information Technology Division by integrating Amyx's technology applications and services into its offerings. The deal is expected to expand Tetra Tech's capabilities in areas such as data analytics and digital transformation for government and commercial clients. Financial details of the acquisition were not disclosed.

Tetra Tech, Inc. (NASDAQ: TTEK) has secured a five-year, $72.5 million contract from the U.S. Agency for International Development (USAID) aimed at enhancing access to climate-resilient water and sanitation services. The initiative will mobilize financing through collaboration with government bodies, financial institutions, and local stakeholders. Tetra Tech's expertise in water resources is expected to bolster service providers' climate resilience and business models, leveraging 40 years of experience in international development.

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.