Tetra Tech, Inc. TTEK recently won a $60-million engineering services contract from the County of Los Angeles. Per the three-year long deal, the company will offer its technical support and planning services for the county’s Water Resource Core Services Area projects.
Per the deal, Tetra Tech will design and plan means to ensure retention, capture and conveyance of surface water, recycled water, and stormwater. The company will be deploying its state-of-the-art sustainable design tools and technologies to conduct storm and flood surge studies, prepare water-management plans, conduct floodplain mapping, groundwater investigations, and dam and feasibility studies for several flood-control projects. Additionally, Tetra Tech will arrange specifications and plans for drilling new drinking water wells and thereafter, provide strategic technical oversight for well construction.
Los Angeles will be able to efficiently protect and diversify its existing water resources on the back of the aforementioned contract-based services.
Tetra Tech provides specialized engineering and consulting services across the globe. The company has an impressive contract-winning pipeline and has won several business deals in the past few months. For instance, the U.S. Agency for International Development awarded a $650-million contract to Tetra Tech on Aug 22 and another $85-million deal, earlier, on Jul 23. Further, on Jun 28, the company secured a $60-million contract from the U.S. Army Corps of Engineers, Portland District.
These deals will likely fortify Tetra Tech’s organic growth trajectory. Over the past three months, shares of this Zacks Rank #2 (Buy) company have rallied 23.1%, outperforming 20.4% growth recorded by the industry it belongs to.
Other Stocks to Consider
Some other top-ranked stocks in the same space are listed below:
Energy Recovery, Inc. ERII sports a Zacks Rank #1 (Strong Buy), currently. The company pulled off an impressive average positive earnings surprise of 261.11% over the past four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.
Advanced Emissions Solutions, Inc. ADES carries a Zacks Rank #2, at present. The company generated an average positive earnings surprise of 16.40% over the trailing four quarters.
Vertex Energy, Inc VTNR also holds a Zacks Rank of 2. The company delivered an average positive earnings surprise of 36.67% during the same time frame.
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Tetra Tech, Inc. (TTEK) : Free Stock Analysis Report
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