Tetra Tech Secures $39.3M Single-Award Contract From USAID

Tetra Tech, Inc. TTEK recently announced that it has secured a $39.3 million contract from the United States Agency for International Development ("USAID"). The latest deal will involve the company supporting USAID's Engendering Industries program.

As part of the single-award deal, Tetra Tech will work on enhancing gender equality and women's economic empowerment opportunities in multiple industries throughout the world. These industries include water, infrastructure, power, transportation as well as information and communications technology.

Under the USAID Engendering Industries program, the company's professionals will utilize data-driven change management tactics to help companies and organizations boost gender equality and economic opportunities for women globally. As part of the Engendering Industries program since 2018, TTEK has been offering technical support services to more than 68 organizations in 39 countries.

Tetra Tech's Other Notable Contracts

Lately, Tetra Tech has received a series of deals, which are likely to drive its growth. In July 2024, the company received a $73 million deal from the USAID to enhance the availability of cost-effective and dependable electricity across 18 nations in West Africa. Also, in March 2024, it 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 NASA facilities across the United States.

In January 2024, the company secured a $34 million contract from the USAID. Per the deal, TTEK will support 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.

TTEK's Zacks Rank and Price Performance

Image Source: Zacks Investment Research

Tetra Tech currently carries a Zacks Rank #2 (Buy). Shares of the company gained 50.1% in the past year against the industry‘s 11% decline.

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