Tetra Tech TTEK has secured a ceiling increase of $42 million to the $17 million, single-award four-year contract from the U.S. Agency for International Development (USAID) to boost energy security in the Republic of Moldova. The initial $17 million contract was awarded in March 2022.
Per the deal, TTEK’s energy experts will merge Moldova’s power grid and electricity market with the European system for catalyzing a regional electricity market. TTEK specialists will support the competitive procurement of cleaner energy and will promote energy security, which in turn will aid Moldova to achieve its energy security goals.
With the help of Tetra Tech, Moldova will develop its first integrated National Energy and Climate Plan and Low Emission Development Strategy to boost domestic renewable energy production and increase climate change resilience. TTEK will also help utility companies and policymakers by bringing investment in domestic power generation and by incentivizing energy efficiency.
In November, Tetra Tech clinched a $72.5 million single-award contract for five years from USAID to boost financing access for climate-resilient water and sanitation services.
Per the deal, Tetra Tech will deploy funds to develop WASH services through the USAID Water, Sanitation and Hygiene Finance 2 (WASH-FIN 2) activity. TTEK will work with development partners, government and financial institutions, service providers and local stakeholders to provide clean drinking water and necessary sanitation services to the people in need.
Tetra Tech, Inc. Price
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Also, in the same month, Tetra Tech clinched a single-award contract for $38 million from USAID to support the expansion of strategic climate adaptation and resilience programming, worldwide.
Zacks Rank & Stocks to Consider
TTEK currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies from the Industrial Products sector are discussed below:
Allegion plc ALLE presently carries a Zacks Rank #2 (Buy). ALLE’s earnings surprise in the last four quarters was 8.8%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks.
In the past 60 days, Allegion’s earnings estimates have remained steady for 2022. The stock has gained 8.5% in the past six months.
Valmont Industries, Inc. VMI presently has a Zacks Rank of 2. VMI’s earnings surprise in the last four quarters was 12.5%, on average.
In the past 60 days, Valmont’s earnings estimates have increased by a penny. The stock has rallied 19.3% in the past six months.
IDEX Corporation IEX presently has a Zacks Rank of 2. IEX’s earnings surprise in the last four quarters was 5.7%, on average.
In the past 60 days, IDEX’s earnings estimates have increased 0.1% for 2022. The stock has rallied 14.6% in the past six months.
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Tetra Tech, Inc. (TTEK) : Free Stock Analysis Report
Valmont Industries, Inc. (VMI) : Free Stock Analysis Report
IDEX Corporation (IEX) : Free Stock Analysis Report
Allegion PLC (ALLE) : Free Stock Analysis Report
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