Tetra Tech Stock Price, News & Analysis

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.

Tetra Tech, Inc. (NASDAQ: TTEK) has successfully completed its acquisition of RPS Group through a UK court-approved scheme. The acquisition enhances Tetra Tech's capabilities in consulting and engineering across energy transformation, water, program management, and data analytics. With RPS's 5,000 employees now part of Tetra Tech, the company aims to reinforce its leadership in sustainable infrastructure and renewable energy. Trading of RPS Group shares has been suspended on the London Stock Exchange as the deal is finalized, allowing Tetra Tech to offer expanded professional opportunities within the combined teams.

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.