AECOM reported Tuesday that its quarterly revenue was up both company-wide and for its business branch that counts the Department of Energy among its government customers.
The Los Angeles-based engineering and infrastructure specialist reported $4.8 billion in quarterly revenue, up 8.2 percent from the $4.4 billion recorded during the first three months of 2017. After the cost of revenue was subtracted, AECOM listed gross profit of $141 million for the first three months of 2018, its second quarter of fiscal 2018. That is down from $168 million year over year.
AECOM reported a net loss and diluted loss per share of $120 million and $0.75 for the period, compared to a net loss of $102 million and $0.66 one year ago. The recent quarter’s figures were affected by a $168 million non-cash charge on non-core oil and gas assets held for sale.
The company realized about $898 million in revenue from its Management Services segment, up from $827 million from the same period in 2017. The sector’s operating income dropped to $43 million from $52 million.
AECOM reported a backlog of about $50 billion, up 18 percent from $42 billion a year ago.
Among its DOE work, AECOM leads the Nuclear Waste Partnership, the prime contractor for the Waste Isolation Pilot Plant near Carlsbad, N.M. It is also the lead partner in Savannah River Remediation, the current liquid waste contractor at the Savannah River Site in South Carolina.
AECOM’s adjusted earnings per share guidance for its fiscal year is $2.50-$2.90, which remains unchanged.
