Tetra Tech Inc - TTEK STOCK NEWS

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a five-year, $105 million Blanket Purchase Agreement by the U.S. Environmental Protection Agency (EPA) Office of Water. This contract aims to restore and protect watersheds across the United States by analyzing surface water and coastal ecosystems affected by pollution and climate change. Tetra Tech will utilize its expertise in developing monitoring programs, predictive models, and technical guidance to enhance aquatic environments and human health. This marks Tetra Tech's tenth consecutive contract with the EPA for watershed management, reinforcing its long-term collaboration with the agency.

Tetra Tech, Inc. (NASDAQ: TTEK) has secured a $200 million multiple-award contract from the U.S. Army Corps of Engineers, Far East District to provide architect-engineer (A-E) services in the Republic of Korea. This five-year contract involves site investigations, engineering design document preparation, and program management for U.S. military support in the Pacific region. Tetra Tech plans to incorporate Leadership in Energy and Environmental Design (LEED) practices into the projects. The relationship with the U.S. Army Corps of Engineers spans nearly 50 years, indicating a strong partnership.

Tetra Tech reported record financial results for the first quarter ended January 1, 2023. Key metrics include net revenue of $737 million, and EPS of $2.18, with adjusted EPS at $1.34, reflecting a 13% year-over-year increase. The backlog reached $3.81 billion, an 11% increase from the previous year. The company declared a $0.23 quarterly dividend, marking a 15% increase year-over-year. Tetra Tech expects EPS for the second quarter between $1.03 and $1.08, while increasing its fiscal 2023 EPS guidance to $4.90 to $5.05.

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.