Tetra Tech (TTEK) Wins A-E Services Contract From USACE
Tetra Tech, Inc. TTEK has secured a multiple-award, $200 million contract from the U.S. Army Corps of Engineers (USACE), Great Lakes and Ohio River Division to offer architectural and engineering (A-E) design services. The solutions provided by TTEK will be aimed at restoring aquatic ecosystems and modernizing inland navigation and flood risk management infrastructure.
The five-year deal is funded through the Infrastructure Investment and Jobs Act. As part of the contract, TTEK will outline and provide technical support to USACE for improving locks, dams, levees, hydraulic systems and waterways as well as augmenting ecosystems. Tetra Tech’s engineers and scientists will plan infrastructure modernization and ecosystem restoration solutions, enhance site assessments and master plans, supervise feasibility studies and collect and analyze data.
At the beginning of this month, Tetra Tech secured a £60-million (around $75.20 million) single-award contract from Scotland’s publicly owned water utility, Scottish Water, to provide extensive water asset management services. Per the eight-year deal, Tetra Tech will evaluate, analyze and make relevant reports on the status of more than 2,500 assets every year. It will also focus on developing digital solutions that will help enhance the data collection and analysis process.
In May, TTEK secured a five-year, single-award, $48 million contract from the U.S. Agency for International Development Ethiopia Mission to develop a comprehensive learning platform that would help monitor data and make informed programming decisions through predictive analytics.
Tetra Tech, Inc. Price
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Also, in March, Tetra Tech secured a five-year, $105 million Blanket Purchase Agreement from the U.S. Environmental Protection Agency Office of Water to restore and protect watersheds and water bodies across the United States.
Zacks Rank & Other Stocks to Consider
TTEK currently sports Zacks Rank #1 (Strong Buy). Some other top-ranked companies from the Industrial Products sector are discussed below:
Ingersoll Rand Inc. IR presently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks.
IR delivered a trailing four-quarter earnings surprise of 12.6%, on average. In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 7.1%. The stock has improved 22.7% in the year-to-date period.
Alamo Group Inc. ALG currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has gained 31.1% in the year-to-date period.
Axon Enterprise AXON sports a Zacks Rank of 1, at present. The company has a trailing four-quarter earnings surprise of 44.4%, on average.
In the past 60 days, estimates for Axon’s 2023 earnings have increased 13%. The stock has rallied 18.6% in the year-to-date period.
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