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PASADENA, Calif. - Tetra Tech, Inc. (NASDAQ: TTEK), an $8 billion market cap consulting and engineering firm specializing in water, environmental, and sustainable infrastructure services, has secured a £36 million contract to support Severn Trent Water's infrastructure projects in the United Kingdom. The company has demonstrated strong growth with revenue increasing nearly 12% over the last twelve months, according to InvestingPro data. This multi-award contract spans three years and tasks Tetra Tech with conducting geotechnical investigations to evaluate soil and groundwater conditions, which will aid in the development of Severn Trent Water’s capital improvement initiatives.
The company's engineers will leverage cloud-based software for efficient data collection, validation, and synchronization across field teams. This technology is part of Tetra Tech's Leading with Science® methodology, which is applied to all stages of the water cycle.
Dan Batrack, Tetra Tech's Chairman and CEO, expressed the company's commitment to ensuring sustainable water resources for Severn Trent Water's customers. "We look forward to supporting Severn Trent Water to develop resilient water supplies for its millions of customers now and into the future," said Batrack. InvestingPro analysis shows the company maintains a strong financial position with a "GOOD" overall health score, and has raised its dividend for 11 consecutive years, demonstrating consistent shareholder returns.
Tetra Tech, with a workforce of 30,000, positions itself as a leader in its field, addressing complex problems with clear solutions. The company emphasizes its role in the entire water cycle, environmental protection and restoration, sustainable and resilient infrastructure design, and support for the clean energy transition.
The press release also includes a cautionary note that statements not based on historical facts are forward-looking and represent management's best judgment of future events. However, actual outcomes and results are subject to risks, uncertainties, and assumptions, and may differ from projections. Recent market data from InvestingPro indicates the stock has faced challenges, declining about 39% over the past six months, though analysts remain optimistic about its prospects. The stock currently trades at a P/E ratio of 30, and according to InvestingPro's Fair Value model, appears to be slightly undervalued. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers. The company advises consulting the "Risk Factors" section in its SEC filings for a more detailed discussion of potential future factors.
This announcement is based on a press release statement from Tetra Tech, Inc. and does not include any promotional content or endorsement of the company's claims.
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 a forecast of $0.34. The company achieved a revenue of $1.2 billion for the quarter, marking an 18% increase year-over-year. Tetra Tech's backlog also rose to $5.44 billion, a 15% increase from the previous year. Additionally, the company secured a $46 million contract with the U.S. Army Corps of Engineers and a significant federal contract under the OASIS+ program, enhancing its role in providing technical services to federal agencies. Furthermore, Tetra Tech expanded its European presence by acquiring Carron + Walsh, an Irish management consulting firm. The firm also entered a joint venture to improve Ireland's water infrastructure, focusing on designing and expanding water facilities. Despite these positive developments, Tetra Tech's stock experienced a decline in after-hours trading.
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