Tetra Tech (TTEK) Wins Water Utility Framework in Ireland
Tetra Tech, Inc. TTEK has secured a five-year framework from Ireland’s National Water Utility, Uisce Eireann (formerly Irish Water), to boost a capital investment program. The project delivers comprehensive drinking water and wastewater management services to the Republic of Ireland.
Uisce Eireann provides water and wastewater services to 80% of the country’s total population. Per the deal, Tetra Tech’s engineers will improve compliance with environmental standards and advance the conservation of water resources by providing technical aid. The TTEK professionals will also evaluate critical infrastructure to classify maintenance and investment decisions needed in the future that are in line with the region’s national planning and climate change policies. Tetra Tech’s latest technologies will boost Uisce Éireann’s capability to deliver safe and sustainable water services to the Ireland population.
Lately, Tetra Tech has received a series of deals, which are likely to drive its growth. In November 2023, 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, 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.
In August, the company secured a three-year, $22 million (AUD) contract from Flotation Energy to ascertain marine environmental conditions to support the development of the Seadragon offshore wind project in Victoria, Australia.
Price Performance
In the past year, the TTEK stock has gained 4.2% against the industry’s 11.8% decline.
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Zacks Rank & Other Stocks to Consider
Tetra Tech currently carries a Zacks Rank #2 (Buy). Some other top-ranked companies from the Industrial Products sector are discussed below:
Flowserve Corporation FLS presently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
FLS delivered a trailing four-quarter average earnings surprise of 27.3%. In the past 60 days, the Zacks Consensus Estimate for Flowserve’s 2023 earnings has increased 3.1%. The stock has risen 19.7% in the past year.
Applied Industrial Technologies, Inc. AIT currently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 13.9%.
The consensus estimate for AIT’s fiscal 2024 earnings has increased 3.7% in the past 60 days. Shares of Applied Industrial have jumped 19.1% in the past year.
A. O. Smith Corporation AOS presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 14%.
In the past 60 days, the consensus estimate for A. O. Smith’s 2023 earnings has improved 5%. The stock has risen 23.7% in the past year.
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Tetra Tech, Inc. (TTEK) : Free Stock Analysis Report
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
Flowserve Corporation (FLS) : Free Stock Analysis Report
Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
