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Tetra Tech (TTEK) Wins Asset Management Deal From Scottish Water
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Tetra Tech, Inc. (TTEK - Free Report) has secured a £60-million (around $75.20 million) single-award contract from Scotland’s publicly owned water utility, Scottish Water, to provide extensive water asset management services.
Scottish Water provides water and wastewater services across Scotland. The job is done with the help of more than 2000 treatment works and 60,000 miles of pipes.
Per the eight-year deal, Tetra Tech will evaluate, analyze and make relevant reports on the status of more than 2,500 assets every year. It will also focus on developing digital solutions that will help enhance the data collection and analysis process. This will allow Scottish Water to identify the deterioration rate and plan future maintenance and investment decisions accordingly for the water utility assets.
In May 2023, TTEK secured a five-year, single-award, $48 million contract from the U.S. Agency for International Development Ethiopia Mission to develop a comprehensive learning platform that would help monitor data and make informed programming decisions through predictive analytics.
Also, in March, Tetra Tech secured a five-year, $105 million Blanket Purchase Agreement from the U.S. Environmental Protection Agency Office of Water to restore and protect watersheds and water bodies across the United States.
Previously, in February, Tetra Tech secured a five-year, multiple-award, $200 million contract from the U.S. Army Corps of Engineers, Far East District, to offer architect-engineer services throughout the Republic of Korea.
The Zacks Consensus Estimate for TTEK’s fiscal 2023 earnings per share is currently pegged at $5.12, suggesting a 13.7% increase from the year-ago reported figure. The same for fiscal 2024 stands at $6.25, indicating growth of 38.9% from the prior-year reported number.
Price Performance
Shares of Tetra Tech have gained 0.4% against the industry’s 4.8% decline in the year-to-date period.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
TTEK currently sports Zacks Rank #1 (Strong Buy). Some other top-ranked companies from the Industrial Products sector are discussed below:
IR delivered a trailing four-quarter earnings surprise of 12.6%, on average. In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 7.5%. The stock has improved 11.3% in the year-to-date period.
Alamo Group Inc. (ALG - Free Report) currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has gained 18.2% in the year-to-date period.
Axon Enterprise (AXON - Free Report) flaunts a Zacks Rank of 1 at present. The company has a trailing four-quarter earnings surprise of 44.4%, on average.
In the past 60 days, estimates for Axon’s 2023 earnings have increased 13%. The stock has rallied 15.8% in the year-to-date period.
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Tetra Tech (TTEK) Wins Asset Management Deal From Scottish Water
Tetra Tech, Inc. (TTEK - Free Report) has secured a £60-million (around $75.20 million) single-award contract from Scotland’s publicly owned water utility, Scottish Water, to provide extensive water asset management services.
Scottish Water provides water and wastewater services across Scotland. The job is done with the help of more than 2000 treatment works and 60,000 miles of pipes.
Per the eight-year deal, Tetra Tech will evaluate, analyze and make relevant reports on the status of more than 2,500 assets every year. It will also focus on developing digital solutions that will help enhance the data collection and analysis process. This will allow Scottish Water to identify the deterioration rate and plan future maintenance and investment decisions accordingly for the water utility assets.
In May 2023, TTEK secured a five-year, single-award, $48 million contract from the U.S. Agency for International Development Ethiopia Mission to develop a comprehensive learning platform that would help monitor data and make informed programming decisions through predictive analytics.
Also, in March, Tetra Tech secured a five-year, $105 million Blanket Purchase Agreement from the U.S. Environmental Protection Agency Office of Water to restore and protect watersheds and water bodies across the United States.
Previously, in February, Tetra Tech secured a five-year, multiple-award, $200 million contract from the U.S. Army Corps of Engineers, Far East District, to offer architect-engineer services throughout the Republic of Korea.
The Zacks Consensus Estimate for TTEK’s fiscal 2023 earnings per share is currently pegged at $5.12, suggesting a 13.7% increase from the year-ago reported figure. The same for fiscal 2024 stands at $6.25, indicating growth of 38.9% from the prior-year reported number.
Price Performance
Shares of Tetra Tech have gained 0.4% against the industry’s 4.8% decline in the year-to-date period.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
TTEK currently sports Zacks Rank #1 (Strong Buy). Some other top-ranked companies from the Industrial Products sector are discussed below:
Ingersoll Rand Inc. (IR - Free Report) presently flaunts a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks.
IR delivered a trailing four-quarter earnings surprise of 12.6%, on average. In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 7.5%. The stock has improved 11.3% in the year-to-date period.
Alamo Group Inc. (ALG - Free Report) currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has gained 18.2% in the year-to-date period.
Axon Enterprise (AXON - Free Report) flaunts a Zacks Rank of 1 at present. The company has a trailing four-quarter earnings surprise of 44.4%, on average.
In the past 60 days, estimates for Axon’s 2023 earnings have increased 13%. The stock has rallied 15.8% in the year-to-date period.