AECOM (ACM) Tops Q3 EPS by 3c; raises guidance

AECOM (NYSE: ACM) reported Q3 EPS of $1.16, $0.03 better than the analyst estimate of $1.13. Net Service Revenue for the quarter came in at $1.83 billion versus the consensus estimate of $1.86 billion.

GUIDANCE:

AECOM sees FY2024 EPS of $4.45-$4.55, versus the consensus of $4.47.

The Company increased its earnings guidance for fiscal 2024, including its expectation to deliver adjusted1 EBITDA4 of between $1,075 million and $1,105 million.

The Company’s fiscal 2024 guidance also includes expectations for:

Organic NSR2 growth at the lower end of the 8% to 10% range.
A segment adjusted1 operating income margin3 of approximately 15.6%, representing a 90 basis point increase from fiscal 2023.
100%+ free cash flow6 conversion, reflecting the highly cash generative nature of the Company’s Professional Services business.
An average fully diluted share count of 136 million, which reflects only shares repurchased to-date, though the Company intends to continue repurchasing stock that would provide a benefit to per share earnings.
An adjusted effective tax rate of approximately 25% for the full year.
Return on invested capital9 (ROIC) of approximately 20%.

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

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