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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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Key updates cover project financing milestones, public-private partnerships, and technological innovations in engineering design. Monitor ACM's global market position through coverage of international expansions and regulatory developments impacting infrastructure sectors.
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AECOM (NYSE: ACM) announced its fourth quarter and full year fiscal 2020 results, reporting revenue of $3.57 billion, a 2% increase, and net income of $170 million, down 19%. Adjusted EPS was $2.15, reflecting a 20% decline year-over-year. Notable achievements included a 14% growth in adjusted EBITDA to $746 million, exceeding guidance. The company expects 9% adjusted EBITDA growth and 23% adjusted EPS growth for fiscal 2021. AECOM's backlog increased by 13% to $41.17 billion, with a focus on enhancing margins and returning cash to shareholders through stock repurchases.
AECOM (NYSE:ACM) has been selected by Trinity Metro to assess the environmental impact and conduct preliminary engineering for the TEXRail extension project in Fort Worth, Texas. This initiative will extend the rail line 2.1 miles to serve over 40,000 workers in the Medical District and enhance transit access for local residents. AECOM's role includes environmental documentation and public outreach, leveraging its expertise to support the expansion of public transportation, which previously saw a 50% rise in ridership.
AECOM (NYSE:ACM) has secured a contract for the Tuen Mun South Extension project in Hong Kong, which entails a 2.4-km extension of the West Rail Line. This initiative includes developing an engineering design, construction program, and project cost estimates, aimed at enhancing local connectivity for around 110,000 residents. The project is expected to save approximately 300 million hours in commuting time over 50 years. This contract highlights AECOM's ongoing relationship with Mass Transit Railway (MTR) and its commitment to improving transportation in Hong Kong.
AECOM (NYSE:ACM) will conduct a conference call on November 16, 2020, at 12 P.M. ET to discuss its fourth quarter and full year fiscal 2020 financial results. The call will provide insights into the company's strategic achievements and market trends. Investors can access the live webcast at investors.aecom.com, where the press release and presentation slides will also be available. To join the call, dial 833-231-8276 (U.S.) or 647-253-8791 (international) and enter passcode 5097585.
AECOM (NYSE:ACM) has announced the relocation of its global headquarters from Century City to downtown Los Angeles, effective January 1, 2021. The company will consolidate its operations into existing offices at 300 South Grand Avenue, enhancing collaboration and efficiency. CEO Troy Rudd emphasized a focus on transforming to a higher-margin, lower-risk Professional Services firm and optimizing the real estate portfolio as crucial for stakeholder commitments.
United E&C has launched as an independent company following its acquisition by CriticalPoint Capital from AECOM, marking a significant transition in the infrastructure sector.
CEO Scott Reeder highlighted the company's commitment to quality and customer service, essential for delivering infrastructure solutions. CriticalPoint Capital's investment aims to leverage United's engineering expertise, focusing on future growth in the power industry.
The acquisition is a strategic move for both firms, expected to enhance operational capabilities and market presence in engineering and construction.
AECOM (NYSE:ACM) has successfully closed the sale of its Power construction business to CriticalPoint Capital, enhancing its strategy to focus on higher-margin, lower-risk Professional Services. CEO Troy Rudd emphasized the significance of this transition, aiming for better organizational alignment and growth opportunities. The transaction was supported by legal advisor Wachtell, Lipton, Rosen & Katz and financial advisor DBO Partners LLC. AECOM continues to thrive as a premier infrastructure consulting firm, with a revenue of approximately $13.6 billion in fiscal year 2019, serving both public and private sectors.
AECOM (NYSE:ACM) has integrated its Design & Consulting Services into a unified global organization, led by President Lara Poloni. This restructuring is aimed at enhancing collaboration and operational efficiency to better serve clients. CEO Troy Rudd emphasized the importance of this initiative for future success and value creation. Additionally, COO Randy Wotring is retiring, while Steve Morriss, group president of DCS Americas, has stepped down but will assist during the transition. AECOM, a leading infrastructure consulting firm, reported approximately $13.6 billion in revenue for FY 2019.
AECOM (NYSE:ACM) announced the completion of a $155 million share repurchase program initiated in September and plans to repurchase up to $300 million in stock during the first quarter of fiscal 2021. Following this buyback, approximately $605 million remains under the company's repurchase authorization. CEO Troy Rudd emphasized a commitment to capital returns to stockholders, aiming to leverage available cash for shareholder value creation.
AECOM (NYSE:ACM) partners with the FAA to enhance airspace operations during the COVID-19 pandemic. The collaboration has resulted in completing 63 tasks across 23 states, amassing over 1,600 work hours without safety incidents. AECOM's expertise in rapid mobilization and industrial hygiene has allowed for overnight disinfection tasks, minimizing operational disruptions. The company emphasizes its commitment to quality and safety as it supports critical aviation services.
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