Tetra Tech Inc. (TTEK) has received a $225 million contract for its huge range of environmental restoration and remediation services. The services are being offered to the U.S. Army Corps of Engineers (USACE) in Louisville District. There are five big business teams, who are sharing the contract ceiling value.
The contract is for a period of two years with an option to be extended twice with a gap of four years.
Tetra Tech’s complete range of environmental services including investigations, studies, design, remediation, environmental dredging, ecosystem restoration, operation and maintenance, and emergency and/or time-critical response activities will be delivered in this Environmental Restoration Services Contract (ERSC).
The ERSC is for protection of the environment, involving programs related to environment, hazardous waste, remediation, and munitions response, conducted at different locations in the United States. However, the primary focus of ERSC is USACE’s Great Lakes Division and Ohio River Division boundaries. For the past eight years, Tetra Tech has being providing environmental services to the USACE Louisville District under a prevailing remediation contract.
Tetra Tech Inc. is a leading provider of consulting, engineering, program management, construction and technical services focusing on resource management and infrastructure. It serves clients by providing cost-effective and innovative solutions to fundamental needs in areas like water, environmental and alternative energy resources. It typically begins at the earliest stage of a project by applying science to problems and developing solutions tailored to clients' needs and resources. Its solutions may span the entire life cycle of the project and include applied science, research and technology, engineering, design, construction management, construction, operations and maintenance, and information technology. The major competitors of Tetra Tech are Arcadis NV (ARCAY.PK), Shaw Group Inc. (SHAW) and URS Corporation (URS).
We currently maintain our Neutral rating on Tetra Tech Inc. with a Zacks #2 Rank (short-term Buy recommendation) over the next one-to-three months.
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