AECOM reports second quarter fiscal 2023 results

  • Delivered strong organic NSR growth across both the Americas and International segments
  • Margins expanded to a new high for a second quarter, resulting in highly profitable growth
  • Total design backlog increased by 12% with record quarterly wins; both design backlog and total backlog achieved record highs
  • Secular growth drivers are accelerating and the Company’s pipeline is at a record level
  • Reiterated all key financial guidance for fiscal 2023 and all fiscal 2024 financial targets

DALLAS — (BUSINESS WIRE) — May 8, 2023 — AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today reported second quarter fiscal 2023 results.

 

Second Quarter Fiscal 2023

(from Continuing Operations;

$ in millions, except EPS)

As Reported

Adjusted1

(Non-GAAP)

As Reported

YoY %

Change

AdjustedYoY %

Change

Revenue

$3,490

--

9%

--

Net Service Revenue (NSR)2

--

$1,679

--

7%

Operating Income

$197

$212

77%

12%

Segment Operating Margin3 (NSR)

--

14.5%

--

+60 bps

Net Income

$118

$128

141%

9%

EPS (Fully Diluted)

$0.84

$0.92

147%

11%

EBITDA4

--

$244

--

10%

Operating Cash Flow

$11

--

NM

--

Free Cash Flow5

--

($21)

--

NM

Second Quarter Fiscal 2023 Highlights

  • Revenue increased 9% to $3.5 billion, operating income increased 77% to $197 million, the operating margin increased 220 basis points to 5.7%, net income increased 141% to $118 million and diluted earnings per share increased 147% to $0.84.
  • Organic net service revenue2 increased by 8% in the design business, with continued strong growth across all major markets.
  • Total design backlog increased by 12%6 to a new record high, driven by record quarterly wins and a 1.5 book-to-burn ratio7; total backlog also achieved a record high.
    • Importantly, the Company’s focus on winning what matters to transform long-term earnings power resulted in a record win rate and record level of proposals and bids submitted.
    • The design win rate reached a new high, including more than doubling the share of trailing twelve-month design wins valued at greater than $25 million over the last few years, which has enhanced visibility and long-term earnings power.
  • The segment adjusted1 operating margin3 increased by 60 basis points to 14.5%.
    • The benefits of ongoing operational efficiency initiatives and focused allocation of time and capital on high-returning opportunities have enabled increased investment to further extend the Company’s competitive advantage.
  • Adjusted1 EBITDA4 increased 10% to a new quarterly high and adjusted1 EPS increased 11%, reflecting the continued high quality and highly profitable nature of the Company’s record wins and backlog.
    • On a constant-currency basis, adjusted 1 EBITDA 4 increased 14%.

1 | 2 | 3 | 4  Next Page »
Featured Video
Editorial
Jobs
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Mechanical Engineer 2 for Lam Research at Fremont, California
Manufacturing Test Engineer for Google at Prague, Czechia, Czech Republic
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Mechanical Engineer 3 for Lam Research at Fremont, California
Upcoming Events
Celebrate Manufacturing Excellence at Anaheim Convention Center Anaheim CA - Feb 4 - 6, 2025
3DEXPERIENCE World 2025 at George R. Brown Convention Center Houston TX - Feb 23 - 26, 2025
TIMTOS 2025 at Nangang Exhibition Center Hall 1 & 2 (TaiNEX 1 & 2) TWTC Hall Taipei Taiwan - Mar 3 - 8, 2025
Additive Manufacturing Forum 2025 at Estrel Convention Cente Berlin Germany - Mar 17 - 18, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise