PASADENA, Calif. - Tetra Tech, Inc. (NASDAQ: TTEK), a consulting and engineering firm specializing in water and environmental projects with annual revenue of $4.5 billion, has secured an $8 million contract from the City of Gloucester, Massachusetts to modernize its wastewater treatment facility. According to InvestingPro data, the company maintains a strong financial health score and has achieved revenue growth of nearly 12% over the last twelve months. The company will provide engineering design and technical services to upgrade the aging Water Pollution Control Facility, which is currently one of the last primary treatment plants in the U.S.
The project, valued at $100 million, aims to integrate secondary treatment into the facility, enhancing its efficiency and capacity to meet future needs and regulatory requirements. The modernization plan also includes energy consumption reduction and flood protection resiliency measures. This contract adds to Tetra Tech’s robust operational performance, with the company maintaining a healthy current ratio of 1.29 and operating with moderate debt levels.
Dan Batrack, Chairman and CEO of Tetra Tech, expressed the company’s commitment to delivering exceptional value to the City of Gloucester and supporting the Massachusetts Bay estuary’s water quality. The initial phase will involve planning, engineering, and permitting services.
Tetra Tech, which employs 30,000 people globally, prides itself on addressing complex problems with clear solutions through its Leading with Science® approach. The company focuses on the entire water cycle, environmental protection and restoration, sustainable and resilient infrastructure design, and supports the transition to clean energy.
The information contained in this article is based on a press release statement from Tetra Tech, Inc. The forward-looking statements in the release are the management’s expectations for the future and are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected.
In other recent news, Tetra Tech, Inc. has announced several significant developments. The company secured a £36 million contract to support Severn Trent Water’s infrastructure projects in the United Kingdom, which will span three years and involve geotechnical investigations. In the United States, Tetra Tech was awarded a $46 million contract with the U.S. Army Corps of Engineers Los Angeles District to provide engineering and design services over three years. Additionally, Tetra Tech expanded its federal engagements with a new contract under the OASIS+ program, allowing unlimited federal spending on their services. The company also strengthened its European presence by acquiring Carron + Walsh, an Irish management consulting firm, enhancing its project management capabilities. Furthermore, Tetra Tech is part of a joint venture to improve Ireland’s water treatment and supply network, involving the development of a new water treatment plant and extensive pipeline network. These contracts and acquisitions reflect Tetra Tech’s ongoing commitment to delivering sustainable infrastructure solutions globally.
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