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Tetra Tech (TTEK) Wins $375M Multiple-Award Contract From NASA
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Tetra Tech, Inc. (TTEK - Free Report) recently secured a $375 million multiple-award contract from National Aeronautics and Space Administration (NASA). Per the five-year contract, Tetra Tech will offer environmental restoration and compliance services at facilities across the United States.
Tetra Tech will be responsible for providing technical support services for assessing and restoring contaminated sites, thereby helping to improve climate resiliency. With the help of advanced Delta technology solutions, TTEK’s engineers and technical specialists will conduct sampling and offer risk assessment services for contaminated groundwater and soils.
The deal will involve the company’s climate specialists to develop predictive models and come up with remedial strategies for the contaminated sites. The latest deal is expected to further enhance the company’s long-standing partnership with NASA.
Other Notable Contracts
Lately, Tetra Tech has received a series of deals, which are likely to drive its growth. In January 2024, the company secured a $34 million contract from U.S. Agency for International Development (USAID). The deal will involve TTEK supporting the USAID Integrated Land and Resource Governance II project, which is aimed at promoting sustainable economic development through better land rights governance. Also, in the same month, it secured a $24 million, single-award deal from USAID to conserve biodiversity and natural resources in Cambodia.
In November 2023, TTEK secured a five-year framework from Ireland’s National Water Utility, Uisce Éireann, (formerly Irish Water) to boost a capital investment program. The project delivers comprehensive drinking water and wastewater management services to the Republic of Ireland.
Zacks Rank & Price Performance
Tetra Tech currently carries a Zacks Rank #2 (Buy). Strength in TTEK’s Government Services Group segment, driven by higher inland waterways and coastal flood protection programs, is aiding the company. Increased activity on clean energy and environmental services programs are aiding the Commercial/International Services Group segment.
Image Source: Zacks Investment Research
In the past year, TTEK stock has risen 26.3% compared with the industry’s 5.8% increase.
Other Stocks to Consider
Some other top-ranked companies from the same space are discussed below:
The company delivered a trailing four-quarter average earnings surprise of 20.3%. In the past 60 days, the Zacks Consensus Estimate for Atmus Filtration’s 2024 earnings has increased 2%.
Applied Industrial Technologies, Inc. (AIT - Free Report) presently has a Zacks Rank #2. It has a trailing four-quarter average earnings surprise of 10.4%. The Zacks Consensus Estimate for AIT’s fiscal 2024 earnings has increased 1.7% in the past 60 days.
Donaldson Company (DCI - Free Report) currently carries a Zacks Rank #2. The company delivered a trailing four-quarter average earnings surprise of 4.5%. In the past 60 days, the Zacks Consensus Estimate for Donaldson’s fiscal 2024 earnings has remained stable.
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Tetra Tech (TTEK) Wins $375M Multiple-Award Contract From NASA
Tetra Tech, Inc. (TTEK - Free Report) recently secured a $375 million multiple-award contract from National Aeronautics and Space Administration (NASA). Per the five-year contract, Tetra Tech will offer environmental restoration and compliance services at facilities across the United States.
Tetra Tech will be responsible for providing technical support services for assessing and restoring contaminated sites, thereby helping to improve climate resiliency. With the help of advanced Delta technology solutions, TTEK’s engineers and technical specialists will conduct sampling and offer risk assessment services for contaminated groundwater and soils.
The deal will involve the company’s climate specialists to develop predictive models and come up with remedial strategies for the contaminated sites. The latest deal is expected to further enhance the company’s long-standing partnership with NASA.
Other Notable Contracts
Lately, Tetra Tech has received a series of deals, which are likely to drive its growth. In January 2024, the company secured a $34 million contract from U.S. Agency for International Development (USAID). The deal will involve TTEK supporting the USAID Integrated Land and Resource Governance II project, which is aimed at promoting sustainable economic development through better land rights governance. Also, in the same month, it secured a $24 million, single-award deal from USAID to conserve biodiversity and natural resources in Cambodia.
In November 2023, TTEK secured a five-year framework from Ireland’s National Water Utility, Uisce Éireann, (formerly Irish Water) to boost a capital investment program. The project delivers comprehensive drinking water and wastewater management services to the Republic of Ireland.
Zacks Rank & Price Performance
Tetra Tech currently carries a Zacks Rank #2 (Buy). Strength in TTEK’s Government Services Group segment, driven by higher inland waterways and coastal flood protection programs, is aiding the company. Increased activity on clean energy and environmental services programs are aiding the Commercial/International Services Group segment.
Image Source: Zacks Investment Research
In the past year, TTEK stock has risen 26.3% compared with the industry’s 5.8% increase.
Other Stocks to Consider
Some other top-ranked companies from the same space are discussed below:
Atmus Filtration Technologies Inc. (ATMU - Free Report) currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company delivered a trailing four-quarter average earnings surprise of 20.3%. In the past 60 days, the Zacks Consensus Estimate for Atmus Filtration’s 2024 earnings has increased 2%.
Applied Industrial Technologies, Inc. (AIT - Free Report) presently has a Zacks Rank #2. It has a trailing four-quarter average earnings surprise of 10.4%. The Zacks Consensus Estimate for AIT’s fiscal 2024 earnings has increased 1.7% in the past 60 days.
Donaldson Company (DCI - Free Report) currently carries a Zacks Rank #2. The company delivered a trailing four-quarter average earnings surprise of 4.5%. In the past 60 days, the Zacks Consensus Estimate for Donaldson’s fiscal 2024 earnings has remained stable.