Leading technical services provider Tetra Tech, Inc. (TTEK - Analyst Report) recently announced that the Atlantic Division of the Naval Facilities Engineering Command (NAVFAC) has awarded it an indefinite delivery/indefinite quantity (ID/IQ) environmental planning services contract. Tetra Tech is one of the three firms in this multiple contract worth $75 million, which has a one-year base period with four one-year options.
As per the agreement, Tetra Tech will primarily provide services – such as natural resources monitoring, management and compliance – to support the navy’s environmental planning program. The program covers the Atlantic area, which includes the continental United States, Europe, southwest Asia, and the Caribbean.
Tetra Tech has been aiding NAVFAC Atlantic's environmental restoration mission since 1982. Moreover, the company has been working with NAVFAC Atlantic under the Environmental Planning services contract for five years. A couple of months back, it had won a five-year single-award ID/IQ remedial action contract from NAVFAC. The deal is worth $100 million and covers facilities under the Atlantic Division’s jurisdiction, including sites in Connecticut, Maine, Massachusetts, Pennsylvania, Maryland, North Carolina, the District of Columbia, Virginia, Puerto Rico, and Africa.
Tetra Tech is a leading player in providing services like consulting, engineering and program management. The company also supports the government and commercial clients by offering solutions in environmental services, water, energy, infrastructure and natural resources.
Tetra Tech currently carries a Zacks Rank #5 (Strong Sell). However, other companies in the same industry that are worth considering include CECO Environmental Corp. (CECE - Snapshot Report)), Perma-Fix Environmental Services Inc. (PESI - Snapshot Report) and Progressive Waste Solutions Ltd. (BIN - Snapshot Report). While CECO carries a Zacks Rank #1 (Strong Buy), Perma and Progressive each carry a Zacks Rank #2 (Buy).