AECOM Stock Price, News & Analysis

AECOM's joint venture, Perfect Circle, has been appointed to two new consultancy frameworks by SCAPE, the UK's leading public sector procurement authority. The frameworks, valued at up to £1.25 billion, will deliver professional services across the utilities sector in the UK. The appointment includes a £750 million direct award framework for England, Wales, and Northern Ireland, and a £500 million dedicated framework for Scotland. The frameworks will last four years, with an option to extend for two additional years. Services will cover a range of utility sectors such as water, renewables, energy, rail, aviation, ports, and telecommunications. This initiative aims to support the UK's grid and utilities infrastructure modernization objectives and facilitate the energy transition.

AECOM (NYSE: ACM) has been selected by the Regional Municipality of Peel to provide design and engineering services for the expansion of the Clarkson Water Resource Recovery Facility (WRRF) in Ontario's Peel Region. This will be the third major expansion, aiming to increase the facility's capacity to 500 MLD by 2029. The project includes a new standby power energy center and enhanced biological phosphorus removal, aligning with Peel Region's goal for net-zero greenhouse gas emissions by 2050. AECOM's extensive experience in complex wastewater projects and prior work on the WRRF will be pivotal. Other ongoing AECOM projects in Peel Region include the Clarkson Cogeneration Expansion and multiple drinking water treatment initiatives.

AECOM (NYSE: ACM) has been chosen by TxDOT to oversee the construction of drainage tunnels for the $4.5 billion Capital Express Central project in Austin, Texas. The project aims to improve safety, relieve flooding, and enhance transportation along the important I-35 corridor. AECOM will utilize its tunneling expertise and innovative technology to deliver this essential infrastructure component.

AECOM, in a joint venture with Stantec, secured a five-year environmental planning contract from NAVFAC Pacific worth $99 million. They will provide environmental planning services for the Navy and Marine Corps in the Pacific Region to ensure compliance with NEPA. The JV will research, prepare, update, and review documents, including environmental, facilities, and land use planning studies. The contract emphasizes supplier diversity and includes skilled specialty subcontractors.

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.