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AECOM (ACM) is a global leader delivering professional services across the infrastructure lifecycle. This news hub provides investors and industry professionals with verified updates on strategic developments, financial performance, and operational milestones.
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AECOM (NYSE: ACM) announced an increase in its tender offer for certain 5.875% Senior Notes due 2024, raising the Aggregate Maximum Purchase Price from $500 million to $700 million. All notes tendered before April 6, 2021, are expected to be accepted by April 13, 2021, with no proration. The tender offer will expire on April 23, 2021, unless extended. The offer's completion is contingent on AECOM entering a new senior secured term loan facility, with sufficient funds to purchase validly tendered notes. Additional details are available in the Offer to Purchase statement.
AECOM (NYSE: ACM) announced the results of its tender offer to purchase up to $500 million of its 5.875% Senior Notes due 2024, valid as of April 6, 2021. As of that date, $607.94 million of the $797.25 million outstanding Notes were tendered. The Tender Offer will expire on April 20, 2021. The company intends to fund the purchase with proceeds from a new term loan facility. Additionally, AECOM successfully received the requisite consents to amend the Notes indenture, removing restrictive covenants.
AECOM (NYSE: ACM) has initiated a tender offer to purchase up to $500 million of its 5.875% Senior Notes due 2024. The company is also soliciting consents for proposed amendments to eliminate restrictive covenants and certain default events associated with the Notes. The tender offer will expire on April 20, 2021, unless extended. Holders tendering by April 6, 2021, will receive an early payment. Conditions include entering a new senior secured term loan. The tender offer is not conditioned on a minimum tender amount and may require proration based on total tenders.
AECOM (NYSE: ACM) has been selected by the U.S. Air Force Civil Engineer Center to deliver planning, design, and construction management services under the $2 billion Architect-Engineer NEXT 2021 contract. This contract spans a five-year base period with an option for an additional five years. AECOM has a history of collaboration with the U.S. Air Force, having managed the previous contract as the top service provider for various projects, including military construction and Foreign Military Sales.
AECOM (NYSE:ACM) hosted a virtual Investor Day, sharing its growth strategy focused on leveraging strengths in transportation, water, and environment consulting to meet ESG and sustainability demands. The firm aims to achieve an adjusted operating income margin of over 15% by fiscal 2024 and targets to double adjusted EPS and free cash flow from fiscal 2020 to 2024. AECOM reiterated its fiscal 2021 guidance, expecting adjusted EPS between $2.60 and $2.80 and free cash flow between $425 million and $625 million, reflecting strong growth prospects.
AECOM (NYSE:ACM) reported its first quarter fiscal year 2021 results, showcasing a 2% revenue increase to $3.3 billion. Operating income surged 62% to $141 million, with net income rising 170% to $83 million. Adjusted diluted EPS reached $0.62, up 35%. The backlog increased 9% to $39.7 billion, reflecting strong demand. Guidance for diluted adjusted EPS is raised to $2.60-$2.80, indicating 26% growth potential from fiscal 2020. However, net service revenue declined 5% organically due to fewer workdays.
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