Tetra Tech Inc. (TTEK - Analyst Report) is among the five firms awarded contracts to aid in the expansion of the global democratic governance programs of the U.S. Agency for International Development (USAID). The value of the contract is approximately $225 million.
The indefinite quantity contract from USAID is known as Strengthening Deliberative Bodies. As per the contract, a wide range of short-term and long-term technical assistance will be provided to help in strengthening legislative bodies while making them more effective. The U.S. Department of State and the Millennium Challenge Corporation are among the cooperating government agencies. The period of contract is five years.
For working in critical priority countries, including Afghanistan, Sudan, Pakistan, and Iraq, $150 million will be provided by USAID and the remaining $75 million for other countries worldwide. Advisory services, technical support, and training on the development of democratic legislative practices and procedures to national parliaments and legislatures; regional, municipal, and city deliberative bodies; and other types of elected or appointed government entities will be provided by Tetra Tech.
Tetra Tech Inc. is a leading provider of consulting, engineering, program management, construction and technical services focusing on resource management and infrastructure. The company serves clients by providing cost-effective and innovative solutions to fundamental needs in areas like water, environmental and alternative energy resources. It typically begins at the earliest stage of a project by applying science to problems and developing solutions tailored to clients' needs and resources. Its solutions may span the entire life cycle of the project and include applied science, research and technology, engineering, design, construction management, construction, operations and maintenance, and information technology. The major competitors of Tetra Tech are Arcadis NV (ARCAY), Shaw Group Inc. and URS Corporation (URS - Analyst Report).
We currently maintain our Neutral rating on Tetra Tech Inc. with a Zacks #3 Rank (short-term Hold recommendation) over the next one-to-three months.