Tetra Tech Inc - TTEK STOCK NEWS

Tetra Tech, Inc. (NASDAQ: TTEK) has acquired Axiom Data Science, a leader in managing and analyzing oceanic data related to climate change, based in Anchorage, Alaska. This acquisition enhances Tetra Tech's advanced analytics capabilities in ocean and ecological data, supporting clients including NOAA and NASA. The transaction terms were not disclosed. Tetra Tech aims to provide sustainable solutions and improve decision-making for climate-related projects worldwide, leveraging Axiom's expertise for better data visualization and integration.

Tetra Tech, Inc. (NASDAQ: TTEK) announced the acquisition of Piteau Associates, a leader in sustainable natural resource analytics based in Vancouver. This acquisition bolsters Tetra Tech's sustainable water management services, enhancing its capabilities in hydrologic modeling and geotechnics. Piteau, established in 1976, brings a knowledgeable team with advanced degrees and a strong commitment to quality solutions. The transaction terms remain undisclosed, but it is expected to boost Tetra Tech’s market reach and service offerings for commercial resource management clients.

Tetra Tech, Inc. (NASDAQ: TTEK) congratulates Dr. Leslie L. Shoemaker, President and Chief Sustainability Officer, on her election to the National Academy of Engineering (NAE). Recognized for her innovative technology in watershed management, Dr. Shoemaker will be inducted in October, enhancing Tetra Tech's reputation in sustainable solutions. Since joining Tetra Tech in 1991, she has pioneered advanced analytics in watershed modeling. Under her leadership, the company aims to positively impact one billion people globally.

Tetra Tech, Inc. (NASDAQ: TTEK) announced the appointment of Prashant Gandhi to its Board of Directors, effective May 1, 2022. Mr. Gandhi brings over 20 years of expertise in digital systems and data analytics, previously serving in senior roles at McKinsey & Company and JP Morgan Chase. He will contribute to the Nominating and Corporate Governance, and Compensation Committees. Tetra Tech's CEO, Dan Batrack, emphasized Mr. Gandhi's relevant experience in digital transformation, aligning with the company's strategic focus on enhancing Tetra Tech Delta technologies.

Tetra Tech, Inc. (NASDAQ: TTEK) has announced a new $1 billion sustainability-linked credit facility, enhancing its borrowing capacity by $100 million. The facility is tied to GHG emission reductions and measures that improve lives through environmental, social, and governance benefits. Since initiating its sustainability program, Tetra Tech has reduced GHG emissions by 78%. This move reflects its commitment to sustainability, reinforced by its ambitious goal of being carbon negative by 2030.

Tetra Tech, Inc. reported strong first quarter results for fiscal 2022, with revenue reaching $859 million and net revenue of $679 million, both up 12% year-over-year. Earnings per share (EPS) increased by 30% to $1.25, while adjusted EPS grew 24% to $1.19. Cash flow from operations surged by 148% to $82 million. The backlog rose by 8% to $3.45 billion. Tetra Tech also declared a quarterly dividend of $0.20 per share, reflecting an 18% increase from the previous year.

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $16.9 million task order to provide application development and technical support under a $169 million contract with the U.S. Department of Labor's Bureau of Labor Statistics. This five-year contract includes full lifecycle technology services aimed at enhancing economic information analysis. Tetra Tech aims to improve efficiency and decision-making for the Bureau using its software solutions and expertise in artificial intelligence and machine learning.

Tetra Tech, Inc. (NASDAQ: TTEK) has announced that it will release its first quarter 2022 financial results on February 2, 2022, after market close. A conference call to discuss these results is scheduled for February 3, 2022, at 8:00 a.m. Pacific Time. Interested parties can access a live webcast via the company's investor relations page. As a provider of high-end consulting and engineering services, Tetra Tech employs 21,000 associates globally and focuses on sustainable solutions in various sectors, including water and renewable energy.