Tetra Tech - TTEK STOCK NEWS

Tetra Tech, Inc. (NASDAQ: TTEK) has secured a $22.4 million task order under its $169 million contract to provide consulting and engineering services to the U.S. Department of Labor's Bureau of Labor Statistics. This five-year task order includes full life-cycle software development, database design, and data analytics. Tetra Tech aims to support the Bureau's modernization efforts, continuing its longstanding partnership to deliver timely economic statistics.

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $19.5 million contract by the U.S. Agency for International Development (USAID) for a four-year project to implement the Water and Energy for Food (WE4F) Southern and Central Africa Regional Innovation Hub. This initiative aims to scale water-energy-food nexus innovations to enhance sustainable food production and promote climate resilience. Tetra Tech will provide technical assistance to regional companies to increase food production through sustainable practices, continuing its 30-year support of USAID's energy reform programs in Sub-Saharan Africa.

Tetra Tech, Inc. (NASDAQ: TTEK) has authorized a new $400 million share repurchase program, doubling the previous authorization. This brings the total available for repurchases to $563 million. The company generated $294 million in cash from operations over the last twelve months, returning $98 million to shareholders through buybacks and dividends. Tetra Tech's net debt leverage ratio stands at 0.1x. The CEO emphasized that this repurchase reflects confidence in the company’s long-term growth and a balanced capital allocation strategy.

Tetra Tech, Inc. (NASDAQ: TTEK) announced the awarding of a five-year, multiple-award contract by the U.S. Agency for International Development (USAID) worth up to $800 million. This contract focuses on providing global architect-engineer services aimed at fostering sustainable economic growth, enhancing food security, and addressing global health issues. Tetra Tech's team will deliver engineering design services for climate-resilient infrastructure, which includes water supply, sanitation, and urban planning, leveraging over 15 years of partnership with USAID.

Tetra Tech, Inc. (NASDAQ: TTEK) has secured a five-year, $49 million contract from the National Oceanic and Atmospheric Administration (NOAA) to assist the Office for Coastal Management’s Digital Coast program. The company will provide geospatial services aimed at managing coastal resources across U.S. territories, addressing issues like sea level rise and climate change. Tetra Tech will utilize advanced data acquisition methods including LiDAR and satellite imagery to develop high-resolution maps, supporting NOAA’s mission for sustainable coastal management.

Tetra Tech, Inc. (TTEK) reported a record revenue of $802 million for Q3 2021, marking a 13% year-over-year increase. Net revenue rose by 14% to $638 million, with EPS at $0.95, a 14% increase. The backlog reached an all-time high of $3.25 billion, driven by strong demand in water and environmental services. On July 27, Tetra Tech acquired Hoare Lea, enhancing its sustainable engineering capabilities. The company also declared an 18% dividend increase to $0.20 per share and initiated a $15 million share repurchase program.

Tetra Tech (NASDAQ: TTEK) has acquired Hoare Lea, a UK-based consultancy specializing in sustainable engineering design. This strategic move aims to enhance Tetra Tech's High Performance Buildings Group, furthering its capacity to deliver sustainable solutions to commercial and government clients. Hoare Lea, with over 900 employees, brings a rich history of innovative design since its inception in 1862. The financial terms of this acquisition were not disclosed, but it marks a significant step towards expanding Tetra Tech's global practice in net zero carbon design and building intelligence.

Tetra Tech (NASDAQ: TTEK) secured a four-year, $49 million contract from the U.S. Agency for International Development (USAID) to improve biodiversity conservation and climate resilience in West Africa. The initiative focuses on combating wildlife trafficking, reducing deforestation, and decreasing greenhouse gas emissions. Tetra Tech’s specialists will collaborate with private sector partners to enhance sustainable resource management. This contract underscores Tetra Tech's long-standing commitment to environmental solutions and positions the company favorably in the growing sustainability sector.

Tetra Tech, a leading provider of consulting and engineering services, announced the schedule for its third quarter 2021 results and conference call. The company will release its results on July 28, 2021, after market close, followed by a conference call on July 29, 2021, at 8:00 a.m. Pacific Time. Investors can access the call via a live webcast on Tetra Tech's website. The firm employs 20,000 associates and specializes in sustainable solutions across various sectors, including water, renewable energy, and international development.