Aecom Technology (ACM) Tops Q3 EPS by 6c

Aecom Technology (NYSE: ACM) reported Q3 EPS of $0.70, $0.06 better than the analyst estimate of $0.64. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $1.96 billion.

“New wins of $2.2 billion in the quarter fueled record backlog of $20.5 billion, a 22-percent year-over-year increase,” said Michael S. Burke, AECOM president and chief executive officer. “Backlog increased in our construction services business and in our growth markets, including Asia and Europe. We are particularly pleased to see signs of strength in our PTS segment.”

Burke continued, “In mid-July, we announced the execution of a definitive agreement to acquire URS Corporation. This strategic combination will significantly accelerate AECOM’s vision to become the premier fully integrated infrastructure firm in the world. The acquisition is on track to close in October, and I’m pleased to report that feedback from both clients and employees has been overwhelmingly positive.”

“Year to date, we generated free cash flow of $136 million, and we are on track to achieve our full-year goal of free cash flow at least equal to net income,” added Stephen M. Kadenacy, AECOM chief financial officer. “We also continued to make progress on increasing our EBITDA margins, which were up by more than 200 basis points sequentially.”

For earnings history and earnings-related data on Aecom Technology (ACM) click here.

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