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Tetra Tech (TTEK) Clinches an Additional $84M Deal From USAID
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Tetra Tech, Inc. (TTEK - Free Report) announced that it secured an additional $84 million to its single-award contract from the U.S. Agency for International Development ("USAID"). The deal aims to strengthen energy security in the Republic of Moldova.
Per the contract, using the Leading with Science approach, Tetra Tech’s energy specialists will integrate a utility-scale battery energy storage system into Moldova’s electricity system to advance the flexibility and stability of the country’s power grid to facilitate greater electricity trade with Romania, Ukraine and the broader European market. The USAID Moldova Energy Security Activity, backed by Tetra Tech's expertise, will aid the Moldovan government foster an independent and sustainable energy sector.
Other Notable Contracts
Lately, Tetra Tech has received a series of deals, which are likely to drive its growth. In March 2024, TTEK secured a $375 million multiple-award contract from the National Aeronautics and Space Administration (“NASA”). Per the five-year contract, Tetra Tech will offer environmental restoration and compliance services at NASA facilities across the United States.
In January 2024, the company secured a $34 million contract from the 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.
Zacks Rank and Price Performance
Tetra Tech currently carries a Zacks Rank #2 (Buy). Shares of the company have risen 30.7% in a year compared with the industry‘s 5.6% growth.
Image Source: Zacks Investment Research
Tetra Tech benefits from its focus on providing high-end consulting, design and engineering services. Its Government Services Group segment is benefiting from higher inland navigation and coastal flood protection programs. Increased activity on clean energy, environmental services and decarbonization programs is aiding the Commercial / International Services Group unit.
Other Stocks to Consider
Some other top-ranked companies from the Industrial Products sector are discussed below:
The Zacks Consensus Estimate for BDC’s 2024 earnings has increased 8.3% in the past 60 days. Shares of Belden have gained 5.5% in the past year.
Applied Industrial Technologies, Inc. (AIT - Free Report) currently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 8.2%.
The consensus estimate for AIT’s fiscal 2024 earnings has improved 1.4% in the past 60 days. The stock has risen 34.7% in the past year.
Crane Company (CR - Free Report) presently carries a Zacks Rank of 2. CR delivered a trailing four-quarter earnings surprise of 15.2%, on average.
The Zacks Consensus Estimate for CR’s 2024 earnings has increased 4.2% in the past 60 days. Its shares have gained 76.1% in the past year.
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Tetra Tech (TTEK) Clinches an Additional $84M Deal From USAID
Tetra Tech, Inc. (TTEK - Free Report) announced that it secured an additional $84 million to its single-award contract from the U.S. Agency for International Development ("USAID"). The deal aims to strengthen energy security in the Republic of Moldova.
Per the contract, using the Leading with Science approach, Tetra Tech’s energy specialists will integrate a utility-scale battery energy storage system into Moldova’s electricity system to advance the flexibility and stability of the country’s power grid to facilitate greater electricity trade with Romania, Ukraine and the broader European market. The USAID Moldova Energy Security Activity, backed by Tetra Tech's expertise, will aid the Moldovan government foster an independent and sustainable energy sector.
Other Notable Contracts
Lately, Tetra Tech has received a series of deals, which are likely to drive its growth. In March 2024, TTEK secured a $375 million multiple-award contract from the National Aeronautics and Space Administration (“NASA”). Per the five-year contract, Tetra Tech will offer environmental restoration and compliance services at NASA facilities across the United States.
In January 2024, the company secured a $34 million contract from the 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.
Zacks Rank and Price Performance
Tetra Tech currently carries a Zacks Rank #2 (Buy). Shares of the company have risen 30.7% in a year compared with the industry‘s 5.6% growth.
Image Source: Zacks Investment Research
Tetra Tech benefits from its focus on providing high-end consulting, design and engineering services. Its Government Services Group segment is benefiting from higher inland navigation and coastal flood protection programs. Increased activity on clean energy, environmental services and decarbonization programs is aiding the Commercial / International Services Group unit.
Other Stocks to Consider
Some other top-ranked companies from the Industrial Products sector are discussed below:
Belden Inc. (BDC - Free Report) presently has a Zacks Rank of 2 and a trailing four-quarter earnings surprise of 14.7%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for BDC’s 2024 earnings has increased 8.3% in the past 60 days. Shares of Belden have gained 5.5% in the past year.
Applied Industrial Technologies, Inc. (AIT - Free Report) currently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 8.2%.
The consensus estimate for AIT’s fiscal 2024 earnings has improved 1.4% in the past 60 days. The stock has risen 34.7% in the past year.
Crane Company (CR - Free Report) presently carries a Zacks Rank of 2. CR delivered a trailing four-quarter earnings surprise of 15.2%, on average.
The Zacks Consensus Estimate for CR’s 2024 earnings has increased 4.2% in the past 60 days. Its shares have gained 76.1% in the past year.