Tetra Tech Stock Price, News & Analysis

Tetra Tech (NASDAQ: TTEK) reported record results for fiscal 2024, with revenue increasing 15% year-over-year to $5.20 billion and net revenue up 15% to $4.32 billion. Operating income grew 40% to $501 million, while EPS increased 21%. The company achieved a record backlog of $5.38 billion, up 12%. Notable contract wins include a $12 billion Defense Logistics Agency contract and a $5 billion USAID contract. The company announced a 12% increase in quarterly dividend and has $348 million remaining in its share repurchase program.

Tetra Tech (NASDAQ: TTEK) has secured a five-year, single-award contract worth up to $30 million from the Utah Army National Guard. The contract focuses on watershed restoration and resiliency at Camp Williams training site, which has experienced increased risks from flooding, wildfires, and erosion due to extreme climate impacts over the past two decades. Tetra Tech's team of scientists and engineers will develop nature-based solutions to restore degraded habitats, mitigate future losses, and enhance biodiversity and ecosystem functions.

Tetra Tech (NASDAQ: TTEK) has been selected by the Defense Logistics Agency (DLA) for its $12 billion JETS 2.0 multiple-award contract. Under this indefinite delivery indefinite quantity contract, Tetra Tech will provide critical services including cybersecurity, operational technology, enterprise resource planning modernization, and supply chain optimization. The company's software engineers will develop applications to support DLA's global infrastructure. Through its Amyx operations, which has been a DLA partner for over 25 years, Tetra Tech will continue delivering Infrastructure Technology solutions.

Tetra Tech (NASDAQ: TTEK) has been awarded a $5 billion multiple-award IDIQ contract by USAID to support global democracy initiatives. The 10-year contract, through USAID's Office of Transition Initiatives, focuses on addressing governance and resiliency challenges in developing countries. Tetra Tech will work on strengthening local engagement, revitalizing critical infrastructure, and enhancing essential public services, including clean water supplies, using evidence-based approaches.

Tetra Tech (NASDAQ: TTEK), a provider of consulting and engineering services in water, environment, and sustainable infrastructure, has scheduled its fourth quarter and fiscal 2024 financial results announcement for November 13, 2024, after market close. The company will host a conference call to discuss results and future outlook on November 14, 2024, at 8:00 a.m. Pacific Time. A live audio-visual webcast will be accessible via tetratech.com/investors, with a replay available after the call.

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $37.5 million contract by the U.S. Agency for International Development (USAID) to improve urban water, sanitation, and solid waste management services in Southern Africa. The 5-year contract focuses on the Limpopo River basin, which is facing challenges due to rapid population growth and climate variability.

Through the USAID Resilient Cities Limpopo program, Tetra Tech will:

• Partner with local governments and regional stakeholders
• Develop data-driven, climate-resilient approaches to enhance public service delivery
• Leverage private sector investment to strengthen waste management operations
• Promote sustainable recycling practices

This contract builds on Tetra Tech's 40-year history of partnering with USAID to improve access to safe, sustainable water supplies in developing countries.

Tetra Tech, Inc. (NASDAQ: TTEK) has been selected by Northern Ireland (NI) Water as one of the companies on a framework contract valued at up to £800 million. This 8-year framework aims to support the sustainable delivery of key water and wastewater infrastructure projects across Northern Ireland. Tetra Tech's role will include:

1. Supporting NI Water in managing programs to strengthen climate resilience
2. Improving the delivery of sustainable services to NI Water customers
3. Providing innovative solutions such as integrated environmental modelling
4. Utilizing Machine Learning and AI techniques to optimize treatment operations

Tetra Tech has a long-standing relationship with NI Water, having provided critical water infrastructure support for decades. The company plans to leverage its Leading with Science® approach and global water expertise to support NI Water's leading water and wastewater program.

Tetra Tech (NASDAQ: TTEK) has been awarded a $249 million multiple-award contract by the U.S. Army Corps of Engineers (USACE), Omaha District. The 7-year contract involves providing environmental assessment and design services at facilities and sites across the United States.

Under this contract, Tetra Tech's team will perform comprehensive environmental services, including:

• Developing water resource management plans
• Assessing and protecting ecosystems
• Designing sustainable building elements for water and energy efficiency

Tetra Tech has supported USACE for over 40 years and has been ranked as the top firm in Environmental Management by Engineering News-Record for 15 consecutive years. The company will use its Leading with Science® approach to address USACE's complex environmental challenges.

Tetra Tech, Inc. (NASDAQ: TTEK) has appointed John M. Douglas as its newest Board Member, effective September 30, 2024. Mr. Douglas brings over 40 years of experience in global operations, leadership, strategy, and project management in technology-enabled consulting services. He will serve on the Compensation and the Nominating and Corporate Governance Committees.

Mr. Douglas was previously the CEO of RPS Group Plc from 2017 to 2023 and CEO of Coffey International from 2011 to 2016. He also held leadership roles at Boral and worked as a consultant at Boston Consulting Group. Concurrently, Joanne M. Maguire will retire from the Board on September 30, 2024.