Tetra Tech, Inc. (TTEK - Free Report) has secured a $51-million single-award contract from the U.S. Environmental Protection Agency (“EPA”) Region 7. Per the five-year contract, the company will be responsible for offering scientific and technical support services to the Superfund Technical Assessment and Response Team (START V). Notably, this is the fourth successive EPA Region 7 START deal won by the company.
Per the contract, Tetra Tech will support EPA Region 7’s work in securing the environment as well as human health from the natural and man-made calamities and crisis. The company will provide technical support services like emergency preparedness, training, superfund and brownfields site assessments, data management as well as monitoring and analysis, among others. As a matter of fact, its support services will help EPA’s commitment to keep the environment and communities safe against crisis within the EPA Region 7, including Kansas, Iowa, Missouri, Nebraska, as well as nine tribal nations.
Tetra Tech is bullish about its growth across all four client sectors, namely, U.S. federal, U.S. state and local, the U.S. commercial and international. Based on growth rate forecast for both the U.S. federal and the U.S. state and local markets, the company expects sales from these markets to comprise almost a third of its business and grow at a rate of 2% in fiscal 2019.
Moreover, in a bid to maximize growth prospects, the company is currently focusing on high-end consulting and engineering services that are helping it promote its high value and high margin business. This is differentiating it from other players in the market.
In addition, Tetra Tech expects that solid opportunities across the globe will continue to boost its international revenues. For fiscal 2019, the company expects a 10% growth rate with its international clients, particularly in Canada and Asia Pacific region. Notably, revenue growth across these regions will be driven by infrastructure programs as well as industrial consulting and design work.
Zacks Rank & Other Key Picks
Tetra Tech currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks from the same space are Heritage-Crystal Clean, Inc. (HCCI - Free Report) , Sharps Compliance Corp (SMED - Free Report) and Roper Technologies, Inc. (ROP - Free Report) . While Heritage-Crystal Clean sports a Zacks Rank #1 (Strong Buy), Sharps Compliance and Roper Technologies carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Heritage-Crystal Clean’s earnings surprise in the last reported quarter was a positive 8.00%.
Sharps Compliance pulled off a positive average earnings surprise of 66.67% in the trailing four quarters.
Roper Technologies outpaced estimates in each of the preceding four quarters, the average earnings surprise being 4.96%.
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