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AECOM reports developments as a global infrastructure professional services firm serving water, environment, energy, transportation and buildings markets. Its updates commonly cover public- and private-sector contract awards for advisory, planning, design, engineering, environmental services, program management and construction management work.
Company news also includes federal, municipal, education, transit and energy infrastructure assignments, including environmental remediation, defense infrastructure, school capital programs, wastewater systems, rail and bus network expansion, and fusion energy project support. Recurring corporate releases address quarterly earnings timing and results, financial outlook commentary, and the company’s quarterly dividend program.
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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AECOM (NYSE:ACM) plans to release its first quarter fiscal 2021 financial results after market close on February 8, 2021. A conference call will be held on February 9, 2021, at noon ET to discuss the results and strategic accomplishments. Additionally, an Investor Day is scheduled for February 16, 2021, where management will update its long-term financial guidance under the 'Think and Act Globally' strategy. The live webcast and presentation slides will be available on AECOM's investor site.
AECOM (NYSE: ACM) announced the appointments of Jennifer Aument as CEO of its global Transportation business and Drew Jeter as CEO of its global Program Management business. Aument, effective April 5, 2021, brings extensive experience from Transurban, while Jeter, effective January 25, 2021, has over 35 years in complex infrastructure delivery. These appointments aim to enhance AECOM's client service and project execution through their leadership, aligning with the company's 'Think and Act Globally' strategy for technical excellence and innovation.
AECOM (NYSE:ACM) has successfully completed the sale of its Civil construction business to Oroco Capital, marking a pivotal moment in its strategy to transform its business profile. This follows the earlier sale of its Power construction business. Since November 2020, AECOM has repurchased nearly $150 million worth of shares, totaling over $600 million since September 2020, reducing diluted shares outstanding by about 8%. The company retains approximately $850 million in repurchase capacity under its $1 billion authorization.
AECOM (NYSE:ACM) announced that its joint venture, Perfect Circle, secured two consultancy lots under the SCAPE framework in the UK, valued at nearly $800 million. This framework enables public sector organizations to expedite project delivery while ensuring compliance. AECOM has previously secured over $350 million in fees through the previous SCAPE framework and expects ongoing project awards. Despite pandemic challenges, the joint venture reported record fee earnings and 89 new commissions recently. The aim is to enhance social, economic, and environmental benefits across UK communities.
AECOM (NYSE: ACM) has been awarded a contract worth over $41 million to enhance the Joint Water Pollution Control Plant in Carson, California. This project will implement Energy Savings Performance Contract upgrades, expected to yield more than $1.3 million in annual savings in energy, water, and maintenance costs, alongside over $8 million in avoided capital expenditures. The upgrade involves replacing outdated oxygen production systems with more efficient technology, enhancing the facility's operational efficiency while serving over five million residents in Los Angeles County.
AECOM (NYSE: ACM) has partnered with Bergen County Utilities Authority and Columbia University to monitor COVID-19 RNA in wastewater. This innovative approach aims to provide early indications of infection rates, with over 650 samples tested since the project's launch last spring. The wastewater monitoring offers a 7-10 day lead on reported COVID-19 cases, assisting public health officials in tracking trends and making informed decisions. The program will expand, further enhancing community health data collection.
AECOM (NYSE:ACM) has signed a definitive agreement to sell its Civil construction business, including Shimmick Construction, to Oroco Capital affiliates. This move, expected to close in January 2021, aligns with AECOM's strategy to focus on higher-margin, lower-risk Professional Services following the recent sale of its Power construction business. CEO Troy Rudd expressed optimism about the company's future under the 'Think and Act Globally' strategy, emphasizing the importance of digital delivery and growth in Professional Services, which generated $13.2 billion in revenue in fiscal year 2020.