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Tetra Tech, Inc. - $TTEK STOCK NEWS

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.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Tetra Tech's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Tetra Tech's position in the market.

Rhea-AI Summary

Tetra Tech (NASDAQ: TTEK) hosted its inaugural Investor Day on May 14, 2024, at Nasdaq’s Global Headquarters, where it launched its 2030 vision for growth and financial targets. The company aims to drive growth through its expertise in water and environmental consulting, focusing on emerging contaminants, advanced technologies, and AI-augmented services.

Key growth drivers include increased R&D funding and recurring revenue from software subscriptions. Financial targets for 2030 include a total compounded annual revenue growth of 10%-15%, organic revenue growth of 6%-10%, and acquisitive revenue growth of 4%-5%. The company also plans to expand its EBITDA margin by over 50bps annually and generate cash flow exceeding net income.

Chairman and CEO Dan Batrack emphasized Tetra Tech's alignment with global priorities, while CFO Steve Burdick highlighted plans to double revenue by 2030 and expand EBITDA margins to support capital allocation and shareholder returns.

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Tetra Tech, Inc. (NASDAQ: TTEK) has acquired Convergence Controls & Engineering, enhancing its digital water and energy practices. The acquisition brings expertise in process automation, data analytics, cloud integration, and cybersecurity. Tetra Tech aims to leverage Convergence's capabilities to provide integrated automation platforms for real-time data visualization and decision support to clients. The acquisition expands Tetra Tech's team of engineers, software developers, and consultants serving water and energy clients.

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0.23%
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Tetra Tech, Inc. (NASDAQ: TTEK) has won a $439 million contract from USAID to enhance energy security and resilience in Ukraine. The five-year contract aims to improve the electricity, natural gas, and district heating sectors in Ukraine, supporting European Union integration and increasing energy efficiency. Tetra Tech will provide strategic technical assistance to the Government of Ukraine to achieve these goals.

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Tetra Tech, a leading consulting and engineering services provider, reported record second-quarter results with $1.25 billion in revenue and $1.05 billion in net revenue. The company saw a 28% increase in EBITDA, reaching $135 million, and a 34% increase in EPS to $1.42. Tetra Tech also achieved its largest second-quarter backlog ever at $4.74 billion, up 11% year-over-year. Recent key wins include contracts with the U.S. Army, NASA, and the U.K. Government, totaling $1.066 billion. The company's executive management remains optimistic about future growth, raising full-year guidance for fiscal year 2024.

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6.11%
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Tetra Tech, Inc. (NASDAQ: TTEK) has won a $464 million contract from the U.S. Army to provide environmental assessment and remediation services across Army installations in the U.S. The five-year contract involves investigating and remediating hazardous waste, including PFAS, with advanced technologies like AI-enabled mapping.

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Tetra Tech, Inc. (NASDAQ: TTEK) releases its 2024 Sustainability Report, showcasing a positive impact on 625 million people worldwide, with a focus on sustainability, greenhouse gas reduction, diversity, and inclusion. The report highlights Tetra Tech's commitment to global environmental and social goals, including UN initiatives and Science Based Targets.
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Tetra Tech, Inc. (TTEK) has scheduled the release of its second quarter 2024 results on May 1, 2024, with a conference call planned for May 2, 2024. Investors can access a live webcast on the company's website.
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Tetra Tech, Inc. (NASDAQ: TTEK) receives the Environmental Business Journal (EBJ) Project Merit Award for their work with the City of Dayton, Ohio, on addressing regulations for PFAS in the water supply. The project, part of a $400 million master plan, includes building the largest PFAS treatment facility in the US. Tetra Tech is designing over $200 million in improvements funded by the bipartisan infrastructure law. The company also won awards for climate change innovation, resilience, business achievement, and diversity.
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Tetra Tech, Inc. (TTEK) to host Investor Day at Nasdaq's Global Headquarters, focusing on revenue growth and margin expansion through a unique water cycle management approach and technology advancements.
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Tetra Tech, Inc. (NASDAQ: TTEK) secures a $375 million contract from NASA for environmental restoration and compliance services, utilizing advanced technologies and sustainable design elements. The five-year deal aims to assess and restore contaminated sites, enhance climate resiliency, and provide technical support using Tetra Tech Delta solutions.
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Tetra Tech, Inc.

Nasdaq:TTEK

TTEK Rankings

TTEK Stock Data

11.70B
52.92M
0.47%
94.63%
1.59%
Engineering Services
Professional, Scientific, and Technical Services
Link
United States of America
PASADENA

About TTEK

tetra tech is a leading provider of consulting, engineering, and technical services worldwide. we are a diverse company, including individuals with expertise in science, research, engineering, construction, and information technology. our strength is in collectively providing integrated services—delivering the best solutions to meet our clients’ needs. employees: 13,000 revenue: $2.3 billion (fy 2015) nasdaq symbol: ttek geographic reach: more than 300 offices worldwide