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Tetra Tech (TTEK) Wins $37M Single-Award Deal From USAID
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Tetra Tech, Inc. (TTEK - Free Report) recently secured a five-year contract worth $37 million from the United States Agency for International Development (“USAID”). The company will be responsible for supporting the socioeconomic empowerment of girls and women in Colombia.
Notably, the company’s shares were up 0.6% yesterday to close at $120.81.
Inside the Headlines
Per the single-award deal, Tetra Tech will work in cooperation with the public and private sectors for promoting the empowerment of girls and women in the South American country. The project aims at attaining equity and generating economic opportunities for women along with reducing violence based on gender, transforming gender norms and execution of gender-based policies and services. Notably, the project will cover the vulnerable section of the society including Afro-Colombian, women with disabilities, indigenous, LGBTQI+ populations as well as migrants. Also, the company will work with Colombian institutions and partners to actively involve boys and men in transforming gender norms.
Notably, this contract is built on long-term collaboration between Tetra Tech and the USAID in economic and peace programs in Colombia.
Other Notable Contracts
Over the past several months, the company has clinched multiple government contracts that have supported its top-line performance. In April 2021, the company won a $36-million multiple-award contract from the U.S. Army Corps of Engineers for the assessment and management of flood risks.
Also, in February 2021, the company secured a five-year contract worth $38.8 million from the USAID. The single-award deal will involve the company to assist Indonesia’s government to realize its sustainable development objectives in the energy sector. In addition, in January 2021, it secured a five-year, single-award deal worth $25 million from the USAID to work on enhancing the consumption of renewable energy and reducing deforestation in Zambia.
It’s worth mentioning that Tetra Tech’s backlog at the end of the second quarter of fiscal 2021 (ended Mar 28, 2021) was $3,150.2 million.
Image Source: Zacks Investment Research
The Zacks Rank #3 (Hold) company’s shares have gained 4.3% compared with 8.4% growth recorded by the industry in the past six months.
Energy Recovery delivered a trailing-four quarter earnings surprise of 257.08%, on average.
Fuel Tech delivered an earnings surprise of 82.92%, on average, in the trailing four quarters.
Sharps Compliance delivered an earnings surprise of 306.67%, on average, in the trailing four quarters.
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Image: Bigstock
Tetra Tech (TTEK) Wins $37M Single-Award Deal From USAID
Tetra Tech, Inc. (TTEK - Free Report) recently secured a five-year contract worth $37 million from the United States Agency for International Development (“USAID”). The company will be responsible for supporting the socioeconomic empowerment of girls and women in Colombia.
Notably, the company’s shares were up 0.6% yesterday to close at $120.81.
Inside the Headlines
Per the single-award deal, Tetra Tech will work in cooperation with the public and private sectors for promoting the empowerment of girls and women in the South American country. The project aims at attaining equity and generating economic opportunities for women along with reducing violence based on gender, transforming gender norms and execution of gender-based policies and services. Notably, the project will cover the vulnerable section of the society including Afro-Colombian, women with disabilities, indigenous, LGBTQI+ populations as well as migrants. Also, the company will work with Colombian institutions and partners to actively involve boys and men in transforming gender norms.
Notably, this contract is built on long-term collaboration between Tetra Tech and the USAID in economic and peace programs in Colombia.
Other Notable Contracts
Over the past several months, the company has clinched multiple government contracts that have supported its top-line performance. In April 2021, the company won a $36-million multiple-award contract from the U.S. Army Corps of Engineers for the assessment and management of flood risks.
Also, in February 2021, the company secured a five-year contract worth $38.8 million from the USAID. The single-award deal will involve the company to assist Indonesia’s government to realize its sustainable development objectives in the energy sector. In addition, in January 2021, it secured a five-year, single-award deal worth $25 million from the USAID to work on enhancing the consumption of renewable energy and reducing deforestation in Zambia.
It’s worth mentioning that Tetra Tech’s backlog at the end of the second quarter of fiscal 2021 (ended Mar 28, 2021) was $3,150.2 million.
The Zacks Rank #3 (Hold) company’s shares have gained 4.3% compared with 8.4% growth recorded by the industry in the past six months.
Stocks to Consider
Some better-ranked stocks from the same space are Energy Recovery, Inc. (ERII - Free Report) , Fuel Tech, Inc. (FTEK - Free Report) and Sharps Compliance Corp. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Energy Recovery delivered a trailing-four quarter earnings surprise of 257.08%, on average.
Fuel Tech delivered an earnings surprise of 82.92%, on average, in the trailing four quarters.
Sharps Compliance delivered an earnings surprise of 306.67%, on average, in the trailing four quarters.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>