Morning Briefing - August 09, 2018
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August 09, 2018

AECOM Sets Revenue Record in Quarter

By ExchangeMonitor

Department of Energy contractor AECOM reported a 13-percent rise in revenue in its latest quarter, to $5.1 billion from $4.6 billion a year ago, setting a new quarterly record for the company.

Net income for AECOM’s fiscal third quarter came in at $61 million, or $0.37 per diluted share, down from the year-ago figures of $101 million and $0.64.

The Los Angeles-based engineering and infrastructure company reported a total backlog of $54 billion for the first nine months of fiscal 2018,  16 percent more than the $46 billion reported for the first nine months of fiscal 2017.

AECOM’s Management Services segment, which manages its Energy Department contracts, recorded $936 million in revenue during the quarter, compared to $856 million a year ago. The business pulled in $2.7 billion in revenue for the nine months ending June 30, more than the roughly $2.5 billion for the same stretch of 2017.

Operating income from Management Services for the recent quarter was $66 million, basically flat with the same time last year.

AECOM’s Construction Services division, which includes North American energy projects and nuclear reactor decommissioning, reported $2.1 billion in revenue for the most recent quarter, up from $1.84 billion a year ago. Construction Services recorded revenue of $6.1 billion for the nine months ended June 30, rising from $5.3 billion on a year-over-year basis.

The business’ operating income for the quarter was $9.3 million, down from $33.2 million in the year-ago quarter.

The team of AECOM and EnergySolutions has a 10-year, $1 billion decommissioning management contract for the San Onofre Nuclear Generating Station (SONGS) in San Diego County, Calif.

For the Energy Department, AECOM leads Nuclear Waste Partnership, prime contractor at the Waste Isolation Pilot Plant in New Mexico; URS-CH2M Oak Ridge (UCOR), cleanup contractor for the Oak Ridge Reservation in Tennessee; and Savannah River Remediation, which through the end of March 2019 holds the liquid waste management contract at the Savannah River Site in South Carolina.