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PASADENA, Calif. - Tetra Tech, Inc. (NASDAQ:TTEK), a prominent consulting and engineering firm specializing in water, environment, and sustainable infrastructure with annual revenue exceeding $4.5 billion, has secured a multiple-award contract with the U.S. Army Corps of Engineers (USACE) Los Angeles District. The contract, with a ceiling value of $46 million, will span three years. According to InvestingPro data, the company has demonstrated solid growth with revenue increasing nearly 12% over the last twelve months.
This contract tasks Tetra Tech with providing a broad spectrum of engineering and design services. The company will focus on key areas such as civil and military infrastructure, coastal and port facility development, dam and levee safety, inland flood control, and emergency operations support, particularly for flood and earthquake responses. With a market capitalization of $8.26 billion and analysts setting price targets up to $49, the company maintains a strong position in its sector. Discover more detailed analysis and 12 additional valuable insights about Tetra Tech on InvestingPro.
Dan Batrack, Tetra Tech Chairman and CEO, expressed the company’s commitment to delivering innovative and sustainable engineering solutions to the USACE Los Angeles District. He highlighted Tetra Tech’s technical leadership and experience in tackling complex engineering challenges as the basis for adding exceptional value to their client and stakeholders.
Tetra Tech, with a workforce of 30,000, aims to offer clear solutions to complex problems by integrating science into their approach to manage the entire water cycle, restore environments, design resilient infrastructure, and support the transition to clean energy.
The company’s forward-looking statements indicate a positive outlook, yet they are subject to risks, uncertainties, and assumptions that could cause actual results to differ. These potential discrepancies are detailed under "Risk Factors" in the company’s SEC filings. Despite recent market volatility, Tetra Tech has maintained its strong dividend track record, having raised dividends for 11 consecutive years, demonstrating financial stability with a moderate debt level and good overall financial health score according to InvestingPro metrics.
The announcement today reflects Tetra Tech’s ongoing relationship with the USACE and underscores its role in supporting essential infrastructure projects. This information is based on a press release statement from Tetra Tech, Inc.
In other recent news, Tetra Tech Inc. has reported its first-quarter fiscal year 2025 earnings, surpassing analyst expectations with earnings per share (EPS) of $0.35, compared to the forecast of $0.34. The company’s revenue for the quarter reached $1.2 billion, marking an 18% increase from the previous year. Tetra Tech also announced a significant contract win as part of a joint venture to expand Ireland’s water treatment and supply network, a project aimed at addressing the needs of up to half of the country’s population. Additionally, Tetra Tech has expanded its European presence through the acquisition of Carron + Walsh, an Irish management consulting firm, although the financial details of the deal remain undisclosed.
The acquisition is expected to enhance Tetra Tech’s project management technology offerings and increase its client network in Ireland. Furthermore, Tetra Tech’s recent earnings call highlighted a strong backlog of $5.44 billion, up 15% year-over-year, with guidance for the second quarter projecting net revenue between $1.0 billion and $1.1 billion. Meanwhile, the company faces a temporary hold on USAID contracts, which could impact revenue by $200 million in the first quarter and $400 million annually. In light of these developments, Tetra Tech continues to focus on strategic growth opportunities, including potential acquisitions in the water and environmental sectors, as noted by KeyBanc Capital Markets.
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