Tetra Tech Wins $110 Million USACE Dam Safety and Risk Management Contract

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) announced a contract from the U.S. Army Corps of Engineers, Sacramento District, to manage risks for dams and levee systems in the western United States. This multiple-award contract spans up to five years, focusing on site characterization, environmental assessments, and hydrologic analyses aimed at enhancing dam safety. CEO Dan Batrack emphasized the need for improved management approaches due to climate change impacts on infrastructure. Tetra Tech aims to leverage its expertise to mitigate flood risks and uphold public safety.

Positive

• Awarded a five-year contract with the U.S. Army Corps of Engineers for risk management of dams and levee systems.
• Engagement in site characterization studies enhances Tetra Tech's portfolio in environmental safety.
• Focus on climate change adaptation through advanced analytics and predictive modeling.

Negative

• None.

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today that the U.S. Army Corps of Engineers (USACE), Sacramento District awarded a Tetra Tech-led joint venture a multiple-award contract to assess and manage risks for dams and levee systems in the western United States for a period up to five years.

Tetra Tech will perform site characterization studies, environmental assessments, engineering evaluations, and hydrologic analyses related to the safety of dams and levee systems. Our team will use advanced analytics and predictive modeling to assess structural integrity and design risk-based management approaches for dam and levee safety.

“Increased impacts from climate change have placed the nation’s dam and levee systems under additional stress from extreme weather events,” said Dan Batrack, Tetra Tech Chairman and CEO. “Tetra Tech looks forward to continuing to use our Leading with Science^® approach to support the USACE in reducing flood risks, maintaining public safety, and restoring ecosystems.”

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science^® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211102005344/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What contract did Tetra Tech receive from the U.S. Army Corps of Engineers?

Tetra Tech was awarded a five-year contract to assess and manage risks for dams and levee systems.

How long will the Tetra Tech contract with the U.S. Army Corps of Engineers last?

The contract will last for up to five years.

What services will Tetra Tech provide under the new contract?

Tetra Tech will conduct site characterization studies, environmental assessments, and hydrologic analyses.

What is the stock symbol for Tetra Tech?

The stock symbol for Tetra Tech is TTEK.

Why is Tetra Tech focusing on dam and levee safety?

The company aims to address increased stress on these systems due to climate change and extreme weather events.