Tetra Tech Selected for $100 Million Multiple-Award Environmental Services Contract

Key Terms

multiple-award contract financial

A multiple-award contract is an arrangement where a buyer awards the same contract to several suppliers instead of a single vendor, so those suppliers share the opportunity to win future work under that contract. For investors, it matters because being one of the chosen suppliers can create a steady stream of potential, often lower-risk revenue—like being on a preferred list—while also meaning any single supplier may receive only part of the total business, not an exclusive guarantee.

environmental impact statements regulatory

Environmental impact statements are formal reports that describe how a proposed project or activity is likely to affect air, water, land, wildlife and communities, and outline steps to avoid or reduce harm. For investors they matter because these reports can determine whether a project gets permits, faces delays, extra costs or legal challenges—think of it as a detailed home inspection that can reveal hidden repairs and timelines before you buy.

hazardous waste technical

Hazardous waste is material—liquid, solid or gas—that is dangerous to people or the environment because it is flammable, corrosive, toxic or chemically unstable, like a household chemical that would need special disposal instead of the trash. For investors it matters because companies that generate, store or clean up such waste face legal rules, cleanup costs, fines and reputational damage that can reduce profits, trigger unexpected liabilities and affect a company’s valuation, much like a hidden repair bill for a property.

air quality technical

Air quality measures how clean or polluted the air is, tracking levels of particles, gases and other contaminants people and equipment are exposed to. For investors it’s like a neighborhood safety score for a business: poor air can raise health and liability costs, reduce worker productivity, trigger fines or costly upgrades, and affect property and operational value, while good air lowers those risks.

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services in water, environment, and sustainable infrastructure, announced today that the Company was awarded a $100 million multiple-award contract to provide planning and assessment services to support Air Force Civil Engineer Center (AFCEC) projects.

Under the 5-year contract, Tetra Tech’s engineers, scientists, and technical specialists will support AFCEC in the development of new and resilient infrastructure for our Air Force bases, through assessing the environmental impacts of projects, conducting mitigation planning, and developing environmental impact statements. Our teams will combine advanced subject matter expertise with in-house Tetra Tech Delta technologies to conduct surveys, perform analyses, and develop innovative predictive models related to airspace; air quality, noise, and acoustics; cultural, biological, and natural resources including water resources; hazardous waste; and land use and infrastructure.

“The U.S. Air Force Civil Engineer Center has been providing effective engineering solutions that strengthen U.S. military infrastructure for more than 30 years,” said Dan Batrack, Tetra Tech Chairman and CEO. “We look forward to continuing to use our Leading with Science^® approach to provide innovative, efficient solutions for critical Air Force and Space Force projects.”

About Tetra Tech

Tetra Tech is the leader in water, environment and sustainable infrastructure, providing high-end consulting and engineering services for projects worldwide. With more than 25,000 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, and design sustainable and resilient infrastructure. 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.

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Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.