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PASADENA, Calif. - Tetra Tech, Inc. (NASDAQ: TTEK), a prominent consulting and engineering firm with annual revenue of $4.5 billion and a market capitalization of $7.8 billion, has been chosen as part of a joint venture to enhance Ireland’s water treatment and supply network. The project, led by Uisce Éireann, Ireland’s national water utility, aims to address the needs of up to half of the country’s population.
The joint venture, which includes Tetra Tech’s RPS operations, Atkins Réalis, and Long O’Donnell, will focus on designing and expanding water infrastructure in the Eastern and Midlands Region of Ireland. The scope of work involves developing a new water treatment plant, pumping stations, and extending the pipeline network by over 170 kilometers.
Dan Batrack, Tetra Tech’s Chairman and CEO, emphasized the company’s longstanding experience in improving water infrastructure in Ireland and expressed enthusiasm for contributing to this significant national project. According to InvestingPro analysis, the company’s stock is currently trading near its 52-week low, despite maintaining strong revenue growth of nearly 12% over the last twelve months. InvestingPro’s comprehensive analysis includes 12 additional key insights about Tetra Tech’s financial health and market position.
Tetra Tech plans to deploy its Leading with Science® approach, which integrates evidence-based solutions to create environmentally sustainable infrastructure. This initiative is expected to provide a robust solution to the region’s water supply challenges.
The company, recognized for its expertise in water, environment, and sustainable infrastructure, employs 30,000 people globally. With an impressive track record of raising dividends for 11 consecutive years and maintaining a moderate debt level, Tetra Tech demonstrates strong financial management. Tetra Tech’s services span the entire water cycle, environmental protection and restoration, sustainable and resilient infrastructure design, and support for the clean energy transition. For detailed financial analysis and expert insights, investors can access the complete InvestingPro Research Report, which provides comprehensive coverage of Tetra Tech among 1,400+ top US stocks.
This announcement is based on a press release statement and contains forward-looking statements regarding the company’s role and the project’s potential outcomes. These projections are subject to risks, uncertainties, and assumptions, and actual results may differ materially. For more details on these risks, interested parties can refer to the "Risk Factors" section in Tetra Tech’s SEC filings.
In other recent news, Tetra Tech 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 achieved a net revenue of $1.2 billion, marking an 18% increase year-over-year, and reported a strong backlog of $5.44 billion, up 15% from the previous year. Additionally, Tetra Tech has expanded its European presence through the acquisition of Carron + Walsh, an Irish management consulting firm, although financial terms of the deal were not disclosed. This strategic move is expected to enhance Tetra Tech’s project management technology offerings and bolster its footprint in Europe, particularly in Ireland. Despite the positive earnings and strategic acquisition, Tetra Tech’s stock experienced a decline in after-hours trading. The company provided guidance for the second quarter of fiscal year 2025, projecting net revenue between $1.0 billion and $1.1 billion. Analyst firms have not indicated any major upgrades or downgrades in response to these developments. Tetra Tech continues to focus on its core areas of water, environment, and sustainable infrastructure solutions.
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