Tetra Tech (TTEK) Wins $24M Single-Award Deal From USAID
Tetra Tech, Inc. TTEK recently secured a $24 million, single-award deal from the U.S. Agency for International Development (‘USAID’) to conserve biodiversity and natural resources in Cambodia. The deal is also aimed at boosting community livelihoods in the region.
Per the deal, TTEK’s climate professionals will assist the Cambodian associates in safeguarding critical ecosystems by employing a community-led natural resource management plan. By partnering with the local community and utilizing mobile data collection tools, the company aims to perform complete monitoring to prevent unlawful logging and poaching of wild animals.
Tetra Tech’s technical experts will facilitate the USAID Conserve Activity in implementing innovative programs for boosting economic growth and ecotourism. TTEK’s climate finance specialists will partner with the Cambodian government, conservation organizations and the private sector to develop long-term sustainable solutions like blue carbon credit programs. This deal will support Cambodia’s aim to attain carbon neutrality by the year 2050.
Lately, Tetra Tech has received a series of deals, which are likely to drive its growth. In November 2023, Tetra Tech secured a five-year framework from Ireland’s National Water Utility, Uisce Éireann (formerly Irish Water) to boost a capital investment program. The project delivers comprehensive drinking water and wastewater management services to the Republic of Ireland.
In the same month, the company secured a $33 million contract from the U.S. Army Corps of Engineers Rock Island District, Great Lakes and Ohio River Division to offer architectural and engineering design services.
In October 2023, TTEK secured a multiple-award, $450 million contract from the U.S. Environmental Protection Agency to boost the Great Lakes region’s environmental restoration efforts.
Zacks Rank
Tetra Tech currently carries a Zacks Rank #3 (Hold). Strength in TTEK’s Government Services Group segment, driven by higher U.S. state and local government activities related to digital water and U.S. federal programs, is aiding the company. However, the rising costs of sales are a major concern for Tetra Tech.
In the past year, TTEK stock rose 23.3% against the industry’s 0.4% decrease.
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Zacks Rank & Stocks to Consider
Tetra Tech currently carries a Zacks Rank #3 (Hold). Some better-ranked companies from the Industrial Products sector are discussed below:
Graham Corporation GHM presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GHM delivered a trailing four-quarter average earnings surprise of 264.8%. In the past 60 days, the Zacks Consensus Estimate for Graham’s 2023 earnings has increased 106.7%. The stock has risen 102.3% in the past year.
Applied Industrial Technologies, Inc. AIT presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 13.9%.
The Zacks Consensus Estimate for AIT’s fiscal 2024 earnings has increased 1.8% in the past 60 days. Shares of Applied Industrial have jumped 42.1% in the past year.
Crane Company CR currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 29.8%.
In the past 60 days, the Zacks Consensus Estimate for Crane’s 2023 earnings has remained steady. The stock has risen 46.1% in the past year.
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Tetra Tech, Inc. (TTEK) : Free Stock Analysis Report
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