Company Reports

AECOM posted an adjusted net loss of $64 million, or $0.50 per share, in its fiscal third quarter. The loss was driven by a $337 million pretax charge due to delays and higher projected costs on a legacy construction management project.

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines, including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.

Aecom increased fiscal second-quarter net service revenue by 2% on a constant-currency basis and adjusted EBITDA by 8% from the prior-year period. Management raised its full-year adjusted earnings per share guidance range by $0.05 on both ends to $5.90-$6.10.

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines, including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.

Artificial intelligence jitters have roiled the market this week, leading to a selloff in firms seen as vulnerable to AI disruption. The AI fears spread to engineering and construction firms on Feb. 12, with shares closing down roughly 8% for Jacobs, 10% for AtkinsRealis, and 12% for Aecom.

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.

Aecom reported strong fiscal first-quarter results, as its adjusted EPS of $1.29 easily beat the FactSet consensus estimate by $0.13. Management raised its fiscal 2026 guidance range by $0.20 on both ends and now anticipates full-year adjusted EPS of $5.85-$6.05.

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.

Aecom reported solid fiscal fourth-quarter results, as its adjusted earnings per share of $1.36 came in $0.02 above FactSet consensus expectations. For fiscal 2026, management anticipates full-year adjusted EPS of $5.65 to $5.85, higher at the midpoint than the $5.69 consensus estimate.

Aecom's fiscal third-quarter adjusted EPS of $1.34 beat the FactSet consensus estimate by $0.08. Management has raised its fiscal 2025 outlook for the third time this year, now anticipating adjusted EPS of $5.20-$5.30, up from its previous $5.10-$5.20.

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.

Aecom reported solid fiscal second-quarter results, featuring a 20% year-over-year increase in adjusted EPS and an increase in fiscal 2025 guidance for the second time this year. Given the professional services nature of its business model, we believe that Aecom has limited direct exposure to tariffs. We've raised our fair value estimate to $104 from $102, which reflects our slightly more optimistic midcycle operating margin assumptions and time value of money.

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.

Aecom delivered solid revenue growth and margin improvement in the fiscal first quarter. Management raised the bottom end of its full-year fiscal 2025 guidance range by a nickel and now anticipates adjusted EPS of $5.05-$5.20. We've raised our fair value estimate to $102 from $98, as the firm's growing backlog and record pipeline give us greater confidence in the outlook for fiscal 2025 and beyond.

Aecom ended its fiscal 2024 with a solid fourth quarter, as its full-year adjusted EPS of $4.52 came in a penny above our estimate. After rolling our model forward one year, we’ve raised our fair value estimate to $98 from $93, which reflects our slightly more optimistic operating margin assumptions as well as time value of money.

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.

Aecom posted strong fiscal third-quarter results, featuring a roughly 23% year-over-year increase in adjusted EPS, to $1.16 from $0.95. Following a strong fiscal third quarter, management raised the bottom end of its full-year outlook and now expects adjusted EPS of $4.45 to $4.55, up from $4.35 to $4.55 previously. We’ve raised our fair value estimate to $93 per share from $90, driven by our slightly more optimistic revenue growth projections and time value of money.

In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.