AECOM Posted Q4 Earnings, Releasing Guidance for Full-Year 2018

Published on: 14 Nov, 2017

AECOM (NYSE: ACM) announced its financial results for the fourth quarter and full-year 2017 on Monday. In the statement, the company also released guidance for full-year 2018.

For the fourth quarter, revenue of the company was $4.86 billion, beating analysts’ estimate of $4.63 billion. AECOM reported earnings per share of $0.74 for the fourth quarter, also beating estimate of $0.73 per share.

For full-year 2017, revenue was $18.2 billion, and net income was $339 million. Diluted earnings per share for the full year was $2.13 per share.

“Our performance in fiscal 2017 was highlighted by strong cash flow, record backlog, and accelerating revenue growth, which serve as clear evidence that our diverse business and design, build, finance and operate vision are delivering results,” Michael S. Burke, the chairman and chief executive officer of AECOM, said in the statement on Monday.

“We delivered strong free cash flow within our annual guidance range, and we continued to reduce our debt and strengthen our balance sheet,” W. Troy Rudd, the chief financial officer of AECOM, said in the statement.

In the statement, the company provided guidance for fiscal year 2018. Adjusted earnings per share was expected to be in the range of $2.50 to $2.90 per share. Free cash flow was expected to be between $600 million and $800 million. In addition, the company also expected interest expense to be $210 million.

Shares of the company opened at $35.63 per share on Tuesday.

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