Welcome to our dedicated page for Aecom news (Ticker: $ACM), a resource for investors and traders seeking the latest updates and insights on Aecom stock.
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AECOM, in partnership with Arup, has been appointed as a design and consenting service partner for the UK National Grid's Great Grid Upgrade. The project aims to connect clean energy to homes and businesses in England and Wales by 2030, part of a £9bn supply chain framework. AECOM's expertise in grid design will help meet the demand for grid improvements and support the transition to net zero, providing cheaper energy and less reliance on fossil fuels.
AECOM reported strong second quarter fiscal 2024 results with revenue increasing 13% to $3.9 billion, operating income up 2% to $200 million, net income down 6% to $111 million, and diluted earnings per share down 4% to $0.81. Backlog reached an all-time high, and the Company raised its fiscal 2024 adjusted EBITDA guidance to between $1,070 million and $1,105 million. Operating cash flow was $94 million, free cash flow $74 million, and $145 million was returned to shareholders in the first half of the year. AECOM remains optimistic about the future based on strong financial performance.
