AECOM Technology (NYSE: ACM) reported Q2 EPS of $0.67, $0.01 better than the analyst estimate of $0.66. Revenue for the quarter came in at $4.8 billion versus the consensus estimate of $4.8 billion.

• Following management’s strategic review of the Company’s risk profile and due to unfavorable market conditions, the Company will no longer pursue fixed-price combined-cycle gas power plant EPC projects.
• Importantly, construction of Alliant’s Riverside combined-cycle gas plant, AECOM’s only such project currently underway, is expected to be completed profitably and on schedule in 2019.
• The Company also intends to sell and exit certain non-core Oil & Gas operations.
• The Company is reducing its adjusted EBITDA1 guidance from $910 million to $880 million, primarily from the removal of two combined cycle gas power plant EPC projects from backlog that were expected to positively contribute to earnings this year.

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