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AECOM Records Strong Q3

Infra News - Published on Tue, 13 Aug 2019

Image Source: https://www.constructiondive.com
AECOM’s Construction Services segment brought in $1.9 billion in revenue in its third quarter, the firm reported this week, or 38% of its nearly $5 billion in total revenue for the period. Adjusted operating income for the three-month period that ended June 30 was $49 million, representing 17% of the firm’s trailing 12-month adjusted operating income. Building construction made up 69% of the segment’s trailing 12-month revenue, with civil construction and oil and gas each making up 11% and power-related construction at 9%. Backlog for the segment was up more than 50% from the year before, helping the company realize nearly four years of run-rate revenue value in backlog, with nearly 90% of that volume based in four core markets including New York and Los Angeles.

CEO and Chairman Michael S. Burke said “The positive results were due in part to the actions the company announced late last year, such as “de-risking” its portfolio by focusing on lower-risk construction management work. The plan, as the contractor laid out in its earnings presentation, also includes extracting its involvement in all at-risk, self-perform construction, all non-core oil and gas and international development work, and more related to its capital services business.”

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Posted By : Mohan Sharma on Tue, 13 Aug 2019
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