Financial News

AECOM (ACM) Reports Earnings Tomorrow: What To Expect

ACM Cover Image

Infrastructure consulting service company AECOM (NYSE:ACM) will be reporting earnings tomorrow afternoon. Here’s what you need to know.

AECOM beat analysts’ revenue expectations by 5.2% last quarter, reporting revenues of $4.15 billion, up 13.3% year on year. It was a strong quarter for the company, with a decent beat of analysts’ adjusted operating income and earnings estimates.

Is AECOM a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting AECOM’s revenue to grow 7.1% year on year to $4.12 billion, slowing from the 12.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.25 per share.

AECOM Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AECOM has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.3% on average.

Looking at AECOM’s peers in the engineering and design services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. MasTec posted flat year-on-year revenue, missing analysts’ expectations by 5.4%, and EMCOR reported revenues up 15.3%, falling short of estimates by 2.5%. MasTec traded up 5.7% following the results while EMCOR was also up 5%.

Read our full analysis of MasTec’s results here and EMCOR’s results here.

There has been positive sentiment among investors in the engineering and design services segment, with share prices up 2.7% on average over the last month. AECOM’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $111.67 (compared to the current share price of $106.93).

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