Tetra Tech Wins $49.5 Million Environmental Remediation Services Contract

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) announced that the U.S. Army Corps of Engineers (USACE), Los Angeles District, selected the company for a $49.5 million contract to provide environmental consulting and engineering services across California, Nevada, and Arizona. The contract spans five years and includes an initial task order valued at $4.7 million for remediation of 134 acres in San Diego, California. Tetra Tech continues its partnership with the USACE, contributing over two decades of experience in environmental cleanup programs.

Positive

• Awarded a $49.5 million environmental consulting contract by USACE.
• Initial task order of $4.7 million for remediation in San Diego.

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), Los Angeles District, selected the Company to provide comprehensive environmental consulting and engineering services to assess and remediate sites in California, Nevada, and Arizona. The value of the indefinite delivery, indefinite quantity, multiple-award contract is $49.5 million over a period of five years.

Tetra Tech’s scientists, engineers, and geophysicists will provide technical services using real-time field data collection, advanced analytics, and GIS visualization platforms to support assessment and remediation activities. Tetra Tech received the first task order under the contract for $4.7 million to remediate 134 acres at a site in San Diego, California.

“Tetra Tech has supported the U.S. Army’s environmental cleanup programs for more than two decades,” said Dan Batrack, Tetra Tech Chairman and CEO. “We are pleased to continue using our Leading with Science^® approach to support the USACE Los Angeles District to restore hazardous and contaminated sites.”

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/20220907006199/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is the value of the contract awarded to Tetra Tech by the US Army Corps of Engineers?

Tetra Tech was awarded a $49.5 million contract.

How long is the contract with the US Army Corps of Engineers?

The contract duration is five years.

What is the initial task order value for Tetra Tech under the new contract?

The initial task order is valued at $4.7 million.

In which states will Tetra Tech provide services under the USACE contract?

Tetra Tech will provide services in California, Nevada, and Arizona.

What type of services will Tetra Tech provide under its contract with the US Army Corps of Engineers?

Tetra Tech will provide environmental consulting and engineering services.