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PASADENA, Calif. - Tetra Tech, Inc. (NASDAQ: TTEK), a prominent consulting and engineering firm with a market capitalization of $7.56 billion, has been awarded a significant federal contract under the Government Services Administration's One Acquisition Solution for Integrated Services (OASIS+) program. The contract, which spans five years and is an Indefinite Delivery Indefinite Quantity (IDIQ) agreement, has no ceiling value, effectively allowing unlimited federal spending on the professional services provided.
The company is set to offer a wide range of technical service areas to federal agencies, including management and advisory, research and development, technical and engineering, environmental, facilities, intelligence, and logistics services. This contract marks an expansion from Tetra Tech's previous involvement in the OASIS program, where they successfully managed over $725 million in project awards across three service areas. According to InvestingPro data, the company has demonstrated strong execution with revenue growth of 11.77% in the last twelve months, suggesting potential for continued expansion.
Dan Batrack, Chairman and CEO of Tetra Tech, expressed enthusiasm about the company's enhanced role under OASIS+, stating they are poised to support an increased number of clients and services throughout the U.S. business sector.
Tetra Tech is recognized for its expertise in water, environment, and sustainable infrastructure, employing 30,000 individuals worldwide. The company prides itself on combining scientific principles with technical excellence to offer solutions to complex problems, focusing on the water cycle, environmental protection and restoration, sustainable and resilient infrastructure design, and the clean energy transition. InvestingPro analysis reveals the company maintains a strong financial health score of "GOOD" and has consistently raised its dividend for 11 consecutive years, demonstrating operational stability. For detailed insights and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
The announcement includes a cautionary note that statements regarding future expectations, known as forward-looking statements, involve risks and uncertainties. These statements are not guarantees of future performance and could differ materially due to various factors. Tetra Tech's filings with the Securities and Exchange Commission detail these potential risks and uncertainties. Currently trading near its 52-week low, with a moderate debt level and strong profitability metrics, InvestingPro analysis suggests the stock may be slightly undervalued based on its proprietary Fair Value calculations.
This news is based on a press release statement from Tetra Tech, Inc.
In other recent news, Tetra Tech, Inc. reported its Q1 FY2025 earnings, surpassing analyst expectations with earnings per share (EPS) of $0.35, compared to the forecasted $0.34. The company's revenue for the quarter reached $1.2 billion, marking an 18% increase year-over-year. Additionally, Tetra Tech announced a significant backlog of $5.44 billion, up 15% from the previous year. In other developments, Tetra Tech secured a $46 million contract with the U.S. Army Corps of Engineers Los Angeles District, highlighting its ongoing collaboration in essential infrastructure projects. The company also expanded its European footprint by acquiring Carron + Walsh, an Irish management consulting firm, to bolster its project management capabilities. Furthermore, Tetra Tech was selected for a joint venture to enhance Ireland's water treatment and supply network, aiming to address the needs of up to half of the country's population. These recent developments underscore Tetra Tech's strategic growth and expansion in both domestic and international markets.
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