AECOM ACM
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The news check keeps the assessment current.
General analysis — not personal advice.
Current position can be maintained pending confirmation in the next report.
Strong backlog and new contracts are weighed against the prior earnings miss and lowered guidance which supports the HOLD signal.
Sentiment is mixed but has improved following the divestiture and new contracts, with focus on strong order intake despite the prior earnings miss.
HOLD is the call. Neutral is the market mood. Medium risk means some things can go wrong.
Latest change
- 12 May 2026 — The company reported revenue of about $3.8B and adjusted EPS of $1.59 (beat), with record backlog of $26.2B and raised full-year guidance (EPS $5.90–$6.10). Operating cash flow fell sharply YoY.
About the company
AECOM is a global leader in infrastructure consulting providing planning, design, engineering and project management for transport, water, environment and buildings. The company has shifted to an asset-light professional services model focused on higher margins. Operations are mature and profitable on a TTM basis with a record order book.
Bull case
Record backlog, new large contracts and the divestiture provide support for recovery after the Q3 miss.
Bear case
The $337M charge and lowered guidance have damaged confidence in execution.
Why this signal
Strong backlog and new contracts are weighed against the prior earnings miss and lowered guidance which supports the HOLD signal.
Recent news
Q3 report showed a large one-time $337M charge related to an older project, resulting in a loss and lowered full-year guidance. Backlog continued to grow strongly however. The divestiture of the Management Services business for $2.4 billion was completed and several large contracts were awarded, including a potential ten-year $10 billion DOE assignment.