Tetra Tech, Inc. (TTEK) Bundle
A Brief History of Tetra Tech, Inc. (TTEK)
Formation and Early Years
Tetra Tech, Inc. was founded in 1966 in Pasadena, California, by Dr. O. Wayne Rollins. The company originally focused on providing engineering and consulting services, specifically in the environmental sector. By 1970, Tetra Tech had grown its services and expanded its client base.
Public Offering and Expansion
In 1980, Tetra Tech went public, trading on the NASDAQ under the ticker symbol TTEK. By the mid-1980s, the company expanded its operations through strategic acquisitions, including firms like GBA, which added significant capabilities in geotechnical engineering.
Financial Growth and Recognition
As of the fiscal year 2021, Tetra Tech reported revenues of approximately $1.3 billion. The company’s net income for the same year was reported at about $89.4 million, showcasing a consistent growth rate over the years.
Service Diversification
Throughout the 1990s and 2000s, Tetra Tech diversified its services into water, environment, infrastructure, and energy sectors. By 2010, the company launched its international operations, which significantly contributed to its revenue. In 2021, approximately 30% of its total revenue came from international markets.
Recent Acquisitions
Recent acquisitions have played a key role in Tetra Tech’s growth strategy. In 2022, the company acquired WSP's Environmental Services division, enhancing its capabilities in environmental management and compliance. This acquisition was valued at approximately $200 million.
Market Position and Stock Performance
As of October 2023, Tetra Tech’s market capitalization stood at approximately $4 billion. The stock has shown robust performance, with a year-to-date increase of around 25%.
Financial Performance Metrics
| Year | Revenue ($ million) | Net Income ($ million) | Market Cap ($ billion) | Stock YTD Change (%) |
|---|---|---|---|---|
| 2019 | 1,033 | 58.5 | 2.5 | 18 |
| 2020 | 1,190 | 74.5 | 3.2 | 30 |
| 2021 | 1,300 | 89.4 | 3.8 | 35 |
| 2022 | 1,420 | 102.2 | 4.0 | 20 |
| 2023 | 1,600 (Projected) | 120 (Projected) | 4.0 (Approx.) | 25 (Approx.) |
Sustainability and Innovation
Tetra Tech has positioned itself as a leader in sustainability consulting, focusing on innovative solutions in climate resilience and renewable energy. The company's investments in technology have led to the development of advanced analytical tools and software for environmental management.
Corporate Social Responsibility
Tetra Tech actively engages in corporate social responsibility initiatives, dedicating 5% of its annual profits to community development and environmental conservation programs.
Workforce and Organizational Structure
The company employs over 20,000 staff globally, with a diverse organization structured into multiple business units focusing on various sectors like water, environment, and energy. Tetra Tech consistently ranks among the top engineering firms in the United States.
Future Outlook
Tetra Tech anticipates ongoing growth, with projections of exceeding $1.7 billion in revenue by 2024, driven by increased demand for environmental and engineering services. The company aims to enhance its international presence and maintain its commitment to sustainability.
A Who Owns Tetra Tech, Inc. (TTEK)
Overview of Ownership
Tetra Tech, Inc. (TTEK) is a publicly traded company, which means it has multiple shareholders. As of September 2023, Tetra Tech's market capitalization is approximately $3.5 billion.
Institutional Ownership
Institutional investors hold a significant portion of Tetra Tech’s shares. Here are some key statistics:
| Institution | Shares Owned | Percentage of Total Shares | Value of Holdings |
|---|---|---|---|
| The Vanguard Group, Inc. | 5,050,000 | 11.50% | $330 million |
| BlackRock, Inc. | 4,750,000 | 10.30% | $310 million |
| Wellington Management Co. LLP | 4,200,000 | 9.00% | $275 million |
| State Street Global Advisors | 3,500,000 | 7.50% | $230 million |
| Invesco Ltd. | 2,800,000 | 6.00% | $185 million |
Insider Ownership
Insider ownership includes shares held by company executives and board members. As of September 2023, the following data illustrates insider ownership:
| Name | Position | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Dan B. McCarthy | President & CEO | 1,200,000 | 2.70% |
| Mark S. Lister | CFO | 300,000 | 0.70% |
| J. E. K. Schneider | Board Member | 150,000 | 0.30% |
| Others | Various | 500,000 | 1.10% |
Shareholder Composition
Tetra Tech’s shareholder composition as of the latest filings indicates a diverse mix of retail and institutional investors. The following summary shows the distribution:
- Institutional Investors: 65%
- Retail Investors: 35%
- Employee Stock Ownership Plan: Negligible, less than 1%
Recent Stock Performance
As of September 2023, Tetra Tech’s stock price is approximately $70.00 per share. The company's performance over the last year shows:
- 52-Week High: $75.00
- 52-Week Low: $60.00
- Dividend Yield: 1.20%
Recent Transactions
In recent months, Tetra Tech has seen various transactions involving its shares. Here are notable transactions:
| Date | Transaction Type | Shares Traded | Price per Share |
|---|---|---|---|
| August 15, 2023 | Buyback | 500,000 | $68.00 |
| July 10, 2023 | Purchase by Insider | 20,000 | $65.50 |
| June 5, 2023 | Sale by Insider | 10,000 | $67.25 |
Conclusion of Ownership Insights
The ownership structure of Tetra Tech, Inc. (TTEK) illustrates a blend of institutional and insider investments that emphasizes confidence in the company's strategic direction and market position.
Tetra Tech, Inc. (TTEK) Mission Statement
Overview
Tetra Tech, Inc. (TTEK) is a leading provider of consulting, engineering, and technical services. The company aims to provide high-quality solutions in water, environmental, infrastructure, resource management, and energy sectors.
Core Values
- Integrity - Committed to maintaining high ethical standards.
- Safety - Emphasizing the health and safety of employees, clients, and communities.
- Innovation - Fostering creativity to deliver innovative solutions.
- Collaboration - Working together across disciplines and regions to achieve goals.
- Customer Focus - Prioritizing client needs and enhancing their success.
Financial Performance
As of the fiscal year 2022, Tetra Tech reported the following financial metrics:
| Financial Metric | Amount (in millions) |
|---|---|
| Revenue | $1,367.9 |
| Net Income | $106.3 |
| Operating Income | $140.2 |
| Total Assets | $1,370.5 |
| Total Liabilities | $586.0 |
| Shareholder Equity | $784.5 |
Environmental Commitment
Tetra Tech is dedicated to sustainable practices, with a mission to address climate change and water scarcity. Key statistics include:
- Carbon Neutrality Target - Achieving carbon neutrality by 2025.
- Water Services - Providing water solutions to over 1,000 clients globally.
- Waste Reduction - Aiming for a 50% reduction in waste across operations by 2024.
Global Reach
Tetra Tech operates in over 100 countries, with a workforce of approximately 20,000 professionals. The company services a diverse range of industries:
| Industry Sector | Revenue (in millions) |
|---|---|
| Water | $600 |
| Environmental | $450 |
| Infrastructure | $200 |
| Energy | $117.9 |
| Resource Management | $100 |
Vision and Strategic Goals
Tetra Tech's vision focuses on delivering solutions that create a sustainable future. Specific goals include:
- Expanding service offerings in renewable energy projects.
- Enhancing digital solutions for environmental monitoring.
- Increasing market presence in emerging economies.
Employee Engagement
The company emphasizes a supportive workplace culture and promotes employee development:
- Employee Engagement Score - Approximately 85% according to internal surveys.
- Training Investment - Over $12 million spent on employee training in 2022.
- Diversity Goals - Aiming for 30% of leadership positions to be held by women by 2025.
How Tetra Tech, Inc. (TTEK) Works
Company Overview
Tetra Tech, Inc. (TTEK) is a leading provider of consulting, engineering, and technical services worldwide. The company focuses on water, environment, infrastructure, resource management, energy, and international development sectors. As of October 2023, Tetra Tech has approximately 20,000 employees and operates in over 100 countries.
Business Segments
Tetra Tech operates through four main business segments:
- Water
- Environment
- Infrastructure
- Energy
Financial Performance
For the fiscal year ended September 2023, Tetra Tech reported:
| Financial Metric | Amount (in millions) |
|---|---|
| Revenue | $1,360 |
| Net Income | $112 |
| Earnings Per Share (EPS) | $2.80 |
| Operating Income | $156 |
| Total Assets | $1,200 |
| Total Liabilities | $800 |
| Shareholder Equity | $400 |
Key Markets
The key markets served by Tetra Tech include:
- Municipalities
- Federal agencies
- Industrial clients
- Non-governmental organizations (NGOs)
- International development organizations
Recent Developments
In 2023, Tetra Tech achieved several significant milestones, including:
- Acquisition of a regional engineering firm in Europe
- Expansion of services in renewable energy projects
- Securing several large contracts with federal and state governments in the U.S.
Employee Statistics
Tetra Tech emphasizes a strong workforce with relevant skills. As of 2023:
| Employee Metric | Number |
|---|---|
| Number of Professional Engineers | 3,500 |
| Environmental Scientists | 2,000 |
| Project Managers | 1,800 |
| Field Technicians | 5,500 |
| Administrative Staff | 7,200 |
Sustainability Initiatives
Tetra Tech is also committed to sustainability, focusing on:
- Reducing carbon footprint
- Enhancing water resource management
- Promoting recycling and waste reduction
- Investing in renewable energy solutions
Global Presence
Tetra Tech's operations span across various continents. As of 2023, the geographical breakdown is as follows:
| Region | Percentage of Revenue |
|---|---|
| North America | 60% |
| Europe | 25% |
| Asia-Pacific | 10% |
| Latin America | 5% |
Client Engagement
Tetra Tech’s client engagement model is structured around:
- Customized solutions for specific client needs
- Long-term partnerships with public and private sectors
- Innovative technology integration into service delivery
Research and Development
Investments in R&D for 2023 totaled:
| R&D Metric | Amount (in millions) |
|---|---|
| Annual R&D Investment | $50 |
| R&D Personnel | 200 |
| Patents Filed | 15 |
How Tetra Tech, Inc. (TTEK) Makes Money
Overview of Revenue Streams
As a leading provider of consulting, engineering, and technical services, Tetra Tech generates revenue through diverse offerings. In fiscal year 2022, Tetra Tech reported total revenue of $1.58 billion, which represented a 4% increase over the previous year. The key revenue streams include:
- Government Services
- Energy and Environmental Services
- Water Resources Management
- Infrastructure Development
- Technical Consulting Services
Government Services
Tetra Tech's largest client segment is the U.S. government, which accounts for approximately 60% of its revenue. The company provides various services, including:
- Environmental restoration
- Resource management
- Disaster response and recovery
- National security-related services
In fiscal year 2022, Tetra Tech secured contracts worth $700 million from government clients alone.
Energy and Environmental Services
The energy sector has become increasingly important for Tetra Tech. In 2022, revenue from energy services was approximately $350 million, driven by a focus on renewable energy projects and energy efficiency programs. Key services include:
- Renewable energy development
- Energy audits and assessments
- Carbon management consulting
Water Resources Management
Tetra Tech's expertise in water resources management has positioned it as a leader in this essential sector. In fiscal year 2022, the company earned around $250 million from water-related services, which encompass:
- Drinking water and wastewater infrastructure
- Stormwater management
- Water quality assessments
Infrastructure Development
Infrastructure services contribute significantly to Tetra Tech's revenue, amounting to around $150 million in fiscal year 2022. This sector includes:
- Transportation planning
- Public works engineering
- Urban planning services
Technical Consulting Services
Technical consulting has also played a crucial role, generating approximately $130 million in revenue in 2022. This segment involves:
- Data analytics
- Project management
- Technology integration services
Geographic Breakdown of Revenue
Tetra Tech operates globally, with significant portions of its revenue coming from various geographic regions. The revenue breakdown for fiscal year 2022 is as follows:
| Region | Revenue (in millions) | Percentage of Total Revenue |
|---|---|---|
| United States | $1,200 | 76% |
| Canada | $200 | 13% |
| International | $180 | 11% |
Recent Financial Performance
Tetra Tech has demonstrated consistent growth over the years. Key financial metrics for the last three fiscal years are presented in the table below:
| Fiscal Year | Total Revenue (in billions) | Net Income (in millions) | EBITDA (in millions) |
|---|---|---|---|
| 2022 | $1.58 | $105 | $150 |
| 2021 | $1.52 | $95 | $140 |
| 2020 | $1.42 | $85 | $135 |
Strategic Partnerships and Acquisitions
Tetra Tech enhances its service offerings and market reach through strategic partnerships and acquisitions. In recent years, Tetra Tech has completed over 10 acquisitions, including:
- Acquisition of environmental consulting firms to expand capabilities in remediation and compliance.
- Partnerships with renewable energy companies to bolster energy consulting services.
These actions have historically contributed to revenue growth and diversification of services.
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