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 reported record third-quarter results for the period ending July 3, 2022, with revenue of $890 million, a year-over-year increase of 11%. Net revenue rose 13% to $720 million, while operating income increased 20% to $84 million, and EPS grew 15% to $1.09. Cash generated from operations hit $98 million, up 42%, and backlog increased 8% to $3.51 billion. The Board approved a $0.23 per share dividend, reflecting a 15% increase, and announced a $50 million share repurchase.
Tetra Tech, Inc. (NASDAQ: TTEK) announces the promotion of Jill M. Hudkins to President, effective October 3, 2022. She will oversee strategic planning and operations, succeeding Dr. Leslie Shoemaker, who transitions to Chief Sustainability and Leadership Development Officer. Hudkins brings over 24 years of experience and expertise in innovative water treatment solutions. Dr. Shoemaker will enhance Tetra Tech's sustainability initiatives, targeting the improvement of lives for a billion people through industry-leading projects.
Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $500 million contract by the U.S. Army Corps of Engineers to provide environmental remediation services for the Department of Defense outside the continental United States (OCONUS). This contract involves the identification, recovery, and remediation of hazardous waste, leveraging Tetra Tech's expertise in real-time data collection and GIS technology. The company's longstanding relationship with the U.S. Army includes over 20 years of support for environmental cleanup programs.
Tetra Tech, Inc. (NASDAQ: TTEK) announced the schedule for its third quarter 2022 financial results and conference call. The company will release its results after market close on August 3, 2022. A conference call will follow on August 4, 2022, at 8:00 a.m. Pacific Time. The call will be accessible via a live webcast on the company's investor relations page. Tetra Tech is recognized for its high-end consulting and engineering services in sectors such as water and environment. For further information, visit tetratech.com.
Tetra Tech, Inc. (NASDAQ: TTEK) has enhanced its digital water practice through the acquisition of The Integration Group of Americas (TIGA), a leader in process automation and systems integration. The addition of TIGA brings high-end software engineering and advanced data analytics capabilities to Tetra Tech, expanding its services in water, environmental, and energy sectors. The terms of the acquisition were not disclosed, and TIGA will be integrated into Tetra Tech’s Government Services Group.
Tetra Tech, Inc. (NASDAQ: TTEK) has announced a strategic partnership with Cognite, a leader in industrial SaaS, to enhance digital transformation for utility clients. This collaboration aims to integrate Tetra Tech's utility management expertise with Cognite's DataOps platform, enhancing the speed and efficiency of data innovation, digital transformation, and decarbonization efforts.
The partnership focuses on reducing data complexity and improving operational efficiency, aiming to cut down data management time by 90% and accelerate digital use case development by 10-25 times.
Tetra Tech, Inc. (NASDAQ: TTEK) reported record second-quarter results for the period ending April 3, 2022. Revenue reached $853 million, a 13% increase year-over-year, while net revenue was $700 million, up 17%. Earnings per share (EPS) jumped 18% to $0.98. The company boasted a backlog of $3.61 billion, a 15% growth. Tetra Tech announced a 15% dividend increase and repurchased $50 million in stock. With improved cash flow and net debt ratio of 0.2x, the company raised its fiscal 2022 net revenue and EPS guidance.
Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded U.S. Patent Number 11,269,957 for its Volans™ 3D animation and visualization software. This innovative platform significantly enhances environmental impact assessments for the aviation industry, notably reducing modeling time by up to 90%. Volans™ is utilized by the FAA and various global aviation authorities. Tetra Tech emphasizes the importance of patenting to protect its intellectual property, enabling continued advancements in sustainable aviation solutions.
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) has appointed Dr. Leslie L. Shoemaker as an independent director, effective immediately. Dr. Shoemaker, President of Tetra Tech (NASDAQ: TTEK), brings extensive experience in sustainability and environmental projects. She will serve on the Nominating and Corporate Governance Committee, enhancing Schnitzer's board with her expertise. This appointment increases the board to eight members, which supports Schnitzer's strategic initiatives and focus on sustainable growth.
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