Tetra Tech Wins Third EPA Contract
Tetra Tech Inc. (TTEK) recently received the third consecutive contract to provide technical support to the U.S. Environmental Protection Agency’s (:EPA) Regional Superfund Program. The five-year period contract is valued at $50 million and will be supporting five states and nine tribal nations. The scope of the contract primarily involves providing technical support services such as emergency preparedness and response, assessment and inspection, and data management.
Prior to this, the company had received contracts for EPA’s Brownfields and Land Revitalization Program and Office of Water. The previous contract involved efforts to assess, resolve and revitalize properties that were affected by the presence or potential presence of dangerous substances, pollutants or other contaminants.
The latest contract is expected to be included in Tetra Tech’s Technical Support Services division. This division contributed about 33.9% of the revenues in 2012. The Technical Support Services division primarily advises clients, studies, designs and implements projects, and conducts research in the areas of remedial and developmental planning, regulatory consulting, climate change and carbon management services, disaster management, systems test and support services, and program management for complex federal government and international development projects.
Prior to this, in May 2013, EPA had awarded a $160-million indefinite delivery/indefinite quantity contract to Chicago Bridge & Iron (CBI). Per the terms of the contract, CBI will be providing environmental remediation services according to the orders received by Region 9 of EPA. This region includes states like Arizona, Nevada, California, Hawaii, tribal nations and the U.S. territories in the Pacific Ocean.
Tetra Tech is a leading provider of consulting, engineering, program management, construction and technical services focusing on resource management and infrastructure. The company currently has a Zacks Rank #5 (Strong Sell), which is not a good investment option at the moment. However, some other companies operating in the same industry and worth considering are Emcor Group Inc. (EME) and Dycom Industries Inc. (DY). Both have a Zacks Rank #1 (Strong Buy).
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