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Tetra Tech, Inc. (NASDAQ: TTEK) has won a $464 million contract from the U.S. Army to provide environmental assessment and remediation services across Army installations in the U.S. The five-year contract involves investigating and remediating hazardous waste, including PFAS, with advanced technologies like AI-enabled mapping.
Tetra Tech, Inc. (NASDAQ: TTEK) ha ottenuto un contratto del valore di 464 milioni di dollari dall'Esercito degli Stati Uniti per fornire servizi di valutazione e bonifica ambientale in diverse installazioni militari negli Stati Uniti. Il contratto quinquennale prevede indagini e rimediazioni di rifiuti pericolosi, inclusi i PFAS, utilizzando tecnologie avanzate come la mappatura abilitata dall'intelligenza artificiale.
Tetra Tech, Inc. (NASDAQ: TTEK) ha ganado un contrato de 464 millones de dólares con el Ejército de EE. UU. para proporcionar servicios de evaluación y remediación ambiental en las instalaciones del Ejército en los EE. UU. El contrato de cinco años incluye la investigación y remedición de residuos peligrosos, incluyendo PFAS, utilizando tecnologías avanzadas como la cartografía habilitada por IA.
테트라 테크, 인크. (NASDAQ: TTEK)가 미군으로부터 미국 내 군사 시설에서 환경 평가 및 복원 서비스를 제공하기 위해 4억 6천 4백만 달러 규모의 계약을 수주하였습니다. 5년간의 계약은 인공 지능이 활성화된 매핑과 같은 첨단 기술을 이용한 유해 폐기물, PFAS를 포함한 조사 및 복원 작업을 포함하고 있습니다.
Tetra Tech, Inc. (NASDAQ : TTEK) a remporté un contrat de 464 millions de dollars avec l'armée américaine pour fournir des services d'évaluation et de remédiation environnementale dans des installations de l'armée aux États-Unis. Le contrat de cinq ans comprend l'investigation et la remédiation de déchets dangereux, y compris des PFAS, avec des technologies avancées telles que la cartographie activée par l'IA.
Tetra Tech, Inc. (NASDAQ: TTEK) hat von der US-Armee einen Vertrag über 464 Millionen Dollar erhalten, um Umweltbewertungs- und Sanierungsdienste bei Einrichtungen der Armee in den USA zu erbringen. Der fünfjährige Vertrag umfasst die Untersuchung und Sanierung von gefährlichen Abfällen, einschließlich PFAS, unter Verwendung fortschrittlicher Technologien wie KI-gestützter Kartierung.
Positive
Winning a $464 million contract reflects Tetra Tech's strong position in the environmental assessment and remediation services sector.
Utilizing advanced technologies like AI-enabled mapping showcases Tetra Tech's commitment to innovation and efficiency in environmental solutions.
Negative
The contract duration of five years may present challenges in maintaining consistent revenue growth for Tetra Tech over the long term.
Insights
The awarding of a $464 million contract to Tetra Tech by the U.S. Army signifies a notable expansion in the company's remit of services, particularly in the environmental remediation sector. It's pivotal to recognize the long-term implications of such contracts for a firm like Tetra Tech, which specializes in high-end consulting and engineering. The focus on enduring contaminants like PFAS indicates a robust demand for their specialized cleanup expertise. As PFAS are linked to severe health risks and are pervasive in the environment, this contract suggests a proactive response by the Army to mitigate these risks, possibly reflecting a broader governmental shift towards environmental accountability.
This contract stands as a substantial addition to Tetra Tech's backlog, which investors closely monitor as an indicator of future revenue. The commitment of $464 million over five years could represent a steady stream of income for the company, bolstering its financial stability and providing a foundation for sustained growth. Notably, one must weigh the company's ability to scale operations to meet the demands of this contract against the potential costs associated with expanding its workforce and resources. Given the scale of the investment and the specialized nature of the services provided, this deal is likely to attract investor attention, potentially affecting the company's stock valuation.
Tetra Tech's emphasis on leveraging their in-house Tetra Tech Delta technologies, including PFAS data analytics and AI-enabled mapping, indicates a strong alignment with innovation and tech-driven solutions in environmental services. This deployment of advanced technology may set a new benchmark in the industry for efficiency and effectiveness in remediation processes. While the direct financial impact of these technologies is not quantifiable from the outset, they position Tetra Tech at a competitive advantage that could result in market leadership and drive future contracts of similar or larger magnitude.
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 awarded the Company a $464 million, multiple-award contract to provide environmental assessment and remediation services at Army installations throughout the United States.
Under the five-year contract, Tetra Tech will investigate and remediate hazardous and toxic waste, including persistent compounds such as per- and polyfluoroalkyl substances (PFAS). Tetra Tech’s scientists, engineers, and technical specialists will perform investigations, implement remedial actions, and conduct munitions response activities. Our teams will combine advanced subject matter expertise with in-house Tetra Tech Delta technologies to provide innovative solutions including PFAS data analytics and AI-enabled mapping.
“Tetra Tech has supported the U.S. Department of Defense for decades to safely address potentially harmful contaminants at its facilities and in the surrounding environment,” said Dan Batrack, Tetra Tech Chairman and CEO. “We are pleased to use our Leading with Science®approach to continue supporting the U.S. Army in protecting the safety of our service members and the health of the environment.”
Tetra Tech is the leader in water, environment, and sustainable infrastructure, providing high-end consulting and engineering services for projects worldwide. With 28,000 employees working together, Tetra Tech provides clear solutions to complex problems by Leading with Science® to address the entire water cycle, protect and restore the environment, design sustainable and resilient infrastructure, and support the clean energy transition. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn 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.
Jim Wu, Investor Relations
Charlie MacPherson, Media & Public Relations
(626) 470-2844
Source: Tetra Tech, Inc.
FAQ
What contract did Tetra Tech win recently?
Tetra Tech won a $464 million multiple-award contract from the U.S. Army for environmental remediation services.
What services will Tetra Tech provide under the contract?
Tetra Tech will conduct environmental assessment and remediation services, investigating and remediating hazardous waste, including PFAS, at Army installations in the U.S.
Who is the CEO of Tetra Tech?
Dan Batrack serves as the Chairman and CEO of Tetra Tech.
