Fannie Mae, Freddie Mac shares tumble after conservatorship comments
PASADENA, Calif. - Tetra Tech, Inc. (NASDAQ:TTEK), a $9.59 billion market cap engineering firm with annual revenues exceeding $4.5 billion, has been awarded a $248 million multiple-award contract by the U.S. Army Corps of Engineers (USACE), Europe District, according to a press release statement issued by the company.
The five-year contract involves providing architect-engineer services for U.S. military installations across the European Command area of responsibility. Tetra Tech engineers will deliver multidisciplinary design services for infrastructure including air bases, utility systems, medical facilities, barracks, family housing, and operational facilities.
The company’s work will encompass planning, studies, conceptual and detailed design, 3D modeling, and engineering services for projects in eight European countries.
Tetra Tech has previously worked with USACE Europe District on infrastructure programs in the region. The new contract continues this relationship as part of the U.S. Department of Defense’s infrastructure development initiatives.
"We are pleased to continue Leading with Science to provide innovative A-E services that improve critical U.S. Department of Defense base infrastructure and support U.S. national security," said Dan Batrack, Tetra Tech Chairman and CEO.
Tetra Tech describes itself as a provider of consulting and engineering services in water, environment, and sustainable infrastructure with 30,000 employees worldwide.
The contract announcement comes as the U.S. military continues to maintain and upgrade its facilities throughout Europe to support operational readiness and strategic objectives.
In other recent news, Tetra Tech reported strong financial results for its second fiscal quarter of 2025, surpassing analysts’ expectations. The company achieved earnings per share of $0.33, exceeding the forecast of $0.30, and reported revenue of $1.32 billion, significantly higher than the anticipated $1.04 billion. Tetra Tech’s performance in the Government Services Group contributed to a 12% year-over-year revenue increase. Following these results, RBC Capital Markets adjusted its price target for Tetra Tech to $48, down from $49, while maintaining an Outperform rating, citing the removal of USAID and Department of State projects from its backlog. Meanwhile, KeyBanc Capital Markets raised its price target for Tetra Tech shares to $41, up from $34, based on the company’s robust earnings report and projected 10% core revenue growth for fiscal year 2025. These developments reflect continued confidence in Tetra Tech’s financial health and strategic direction. Additionally, Adecoagro S.A. announced its Annual General Meeting for shareholders, scheduled for June 6, 2025, in Luxembourg. The company has provided proxy materials and voting instructions to shareholders as part of its commitment to transparency and engagement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.