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AECOM Reports Q3 Revenue of $3.59B, Below Expectations
Reports Q3 revenue $3.59B, consensus $4.36B. "We are disappointed by the loss we took this quarter on the Construction Management project," said Troy Rudd, AECOM's chairman and chief executive officer. "The project is nearing completion, but lower subcontractor productivity is driving a delayed completion and a higher estimated cost to complete. This project was bid in 2019 under terms and conditions that would not clear our substantially transformed risk processes today. Beyond this, the quarter included several key highlights, including record wins and an all-time high backlog, which make us very confident in the health of the business."
Company Reaffirms Long-Term Financial Targets, Expects 20%+ Margin by Fiscal 2028
In addition, the company reaffirmed its long-term financial targets, which includes its expectation to deliver a 20%+ margin exit rate by fiscal 2028 and to grow adjusted EPS at a 15%+ CAGR from fiscal 2026 to fiscal 2029, excluding the Construction Management charge.
AECOM Selected for New Lisbon Airport Design
Aecom has been selected by ANA Aeroportos de Portugal, part of VINCI Airports group, to deliver the preliminary design for New Lisbon Airport, a planned world-class international hub for the capital city of Portugal. Aecom is leading the project, working with local Portuguese partners to deliver the initial phase of design development, providing a range of technical, design and project management services. New Lisbon Airport is set to replace the city's existing Humberto Delgado Airport, which has limited expansion potential.
AECOM Partners with Bureau Veritas to Certify Queensland Rail Project
Aecom announced it has been selected as Independent Certifier for the design and construction of The Wave - Stage 1, with joint venture partner Bureau Veritas. As Queensland's next major rail project, The Wave will enhance regional connectivity, reduce road congestion, improve accessibility, and support population growth as part of the 2032 Delivery Plan for the Brisbane 2032 Olympic and Paralympic Games. For the next six years, the joint venture will certify the design and construction of a new dual-track rail line from Beerwah to Caloundra that includes new and upgraded stations along the line. Through this work, the joint venture will ensure the project meets its safety, operational and regulatory objectives.
AECOM Selected as Lead Designer for Alexandra Bridge Replacement in Ottawa
AECOM has been selected as the Lead Designer by Capital Crossing Constructors for the replacement of the Alexandra Bridge in Ottawa, a major infrastructure initiative connecting Ottawa, Ontario and Gatineau, Quebec. The project will replace the existing Alexandra Bridge with a modern crossing designed to support long-term mobility, connectivity, and accessibility for all users in the National Capital Region. AECOM will provide a full range of integrated services during the project's development phase, including environmental services, bridge architecture, structural and civil engineering, traffic management design, utility coordination, and public consultation support. The project will also be delivered using building information modeling and fully digital project delivery tools.
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