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.
Tetra Tech Inc (NASDAQ: TTEK) is a global leader in consulting, engineering, and technical services. The company boasts a diverse team of experts in the fields of science, research, engineering, construction, and information technology. Tetra Tech's integrated services approach enables them to deliver the best solutions to meet their clients' needs across various sectors.
With a workforce of approximately 13,000 employees and revenue reaching $2.3 billion in FY 2015, Tetra Tech operates from more than 300 offices worldwide. The company specializes in providing consulting and engineering services for environmental, infrastructure, resource management, energy, and international development markets. Notably, Tetra Tech excels in delivering water-related services to both public and private clients, designing complex infrastructure, facilities, and resource management plans.
Tetra Tech's operations are divided into two major segments. The Government Services Group (GSG) focuses on activities with U.S. government clients, including federal, state, and local agencies, as well as development agencies worldwide. The Commercial/International Services Group (CIG) serves U.S. commercial clients and international clients other than development agencies.
Recent achievements of Tetra Tech include securing major contracts with government and commercial clients, expanding its footprint in international markets, and innovating sustainable and resilient solutions for infrastructure and environmental challenges. The company's financial condition remains strong, reflecting consistent growth and strategic investments in cutting-edge technologies and partnerships.
As Tetra Tech continues to evolve, it remains committed to providing high-quality services that enhance the performance and sustainability of projects around the globe. For the latest updates and news about Tetra Tech, visit their official website and financial news sections.
Tetra Tech, Inc. (NASDAQ: TTEK) reported strong second quarter results for the period ended March 28, 2021. Revenue reached $755 million, with net revenue of $600 million. Operating income increased 28% year-over-year to $61 million, and EPS rose 26% to $0.83. Cash from operations was a record $124 million, up 23%, with a backlog of $3.15 billion, a 5% year-over-year increase. The Board declared an 18% dividend hike and repurchased $15 million in stock. EPS guidance for fiscal 2021 was raised to a range of $3.60 to $3.70.
Tetra Tech (NASDAQ: TTEK) has been awarded a six-year contract by the U.S. Army Corps of Engineers to evaluate and manage flood risks, enhance coastal resilience, and restore ecosystems. The project includes site studies, biological assessments, and engineering designs aimed at mitigating impacts from severe storm events and rising sea levels. Tetra Tech plans to implement innovative infrastructure solutions, such as living shorelines and sustainable wetlands, leveraging advanced analytics and predictive modeling. CEO Dan Batrack emphasized their commitment to resilience and environmental solutions.
Tetra Tech, Inc. (NASDAQ: TTEK) has acquired IBRA-RMAC Automation Systems, Inc., a leader in water systems instrumentation and digital transformation consulting services. This acquisition aims to enhance Tetra Tech's digital water consulting capabilities by integrating advanced instrumentation and data analytics into its offerings. The terms of the deal remain undisclosed. Both companies express optimism about the synergy, with Tetra Tech expected to enhance operational efficiency in the water sector.
Tetra Tech (NASDAQ: TTEK) has announced its second quarter 2021 results release and conference call schedule. The results will be disclosed after market close on April 28, 2021, followed by a conference call on April 29, 2021, at 8:00 a.m. PT. Investors can access the call through a live audio-visual webcast on Tetra Tech's investor relations website. The company, known for its high-end consulting and engineering services, employs 20,000 associates worldwide, focusing on water, environment, renewable energy, and sustainable infrastructure solutions.
Tetra Tech, Inc. (NASDAQ: TTEK) has secured a $49 million contract from the U.S. Army Corps of Engineers (USACE) for architecture and engineering services over five years. This contract focuses on environmental services aimed at protecting and restoring natural environments across the U.S., utilizing advanced technology and analytics to tackle issues like emerging contaminants, particularly PFAS. Tetra Tech has maintained a valued relationship with USACE for over 40 years, emphasizing its commitment to sustainable and innovative solutions.
Tetra Tech (NASDAQ: TTEK) secured a five-year, $2 billion contract with the U.S. Air Force Civil Engineering Center. The contract focuses on global architecture and engineering design services for military facility sustainability and modernization. Tetra Tech aims to deliver innovative solutions including advanced data analytics and asset management. This contract builds on Tetra Tech's 30-year relationship with the USAF, showcasing its commitment to sustainable infrastructure.
Tetra Tech (NASDAQ: TTEK) has been awarded a five-year contract worth $38.8 million by the United States Agency for International Development (USAID) for the Sustainable Energy for Indonesia’s Advancing Resilience (USAID SINAR) initiative. This funding aims to enhance reliable sustainable energy services in Indonesia. Tetra Tech will implement innovative energy solutions, promote smart grid technologies, and support renewable energy integration, contributing to Indonesia's sustainable development goals in the energy sector.
Tetra Tech (NASDAQ: TTEK) announced a five-year contract awarded by the U.S. Army Corps of Engineers (USACE) for risk assessment and management of dams and levee systems across the U.S. The Tetra Tech-led joint venture will conduct site studies, engineering evaluations, and hydrologic analyses to ensure safety and structural integrity. CEO Dan Batrack emphasized the need for these services due to climate change impacts, highlighting Tetra Tech's commitment to reducing flood risks and enhancing public safety through their science-driven approach.
Tetra Tech (NASDAQ: TTEK) has expanded its advanced analytics business through the acquisition of Coanda Research & Development Corporation in Burnaby, British Columbia. Coanda enhances Tetra Tech's capabilities in computational fluid dynamics, data analytics, and process engineering. This acquisition aims to strengthen Tetra Tech's position in delivering customized solutions to commercial clients, aligning with its strategy of Leading with Science. The financial terms of the acquisition were not disclosed.
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