Adjusted EPS guidance for fiscal year 2015 excludes the amortization of intangible assets, financing charges in interest expense, and acquisition and integration expenses. In total, these items are expected to result in a pre-tax expense of approximately $790 million10 for the year.
AECOM is hosting a conference call today at 12 p.m. EDT, during which management will make a brief presentation focusing on the company's results, strategies and operating trends. Interested parties can listen to the conference call and view accompanying slides via webcast at www.aecom.com. The webcast will be available for replay following the call.
| 1 Book-to-burn ratio is defined as the amount of wins divided by revenue recognized during the period. |
| 2 Defined as attributable to AECOM, excluding acquisition and integration related expenses, financing charges in interest expense, and the amortization of intangible assets. |
| 3 Free cash flow is defined as cash flow from operations less capital expenditures net of proceeds from disposals, and is a non-GAAP measure. |
| 4 Defined as attributable to AECOM. |
| 5 Defined as attributable to AECOM, basic. |
| 6 Results expressed in constant currency are presented excluding the impact from changes in currency exchange rates. |
| 7 Excluding intangible amortization. |
| 8 Inclusive of the non-controlling interest deduction and excluding acquisition and integration related expenses, financing charges in interest expense, amortization of intangible assets, and unusual discrete items. |
| 9 Capital expenditures, net of proceeds from disposals. |
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10 Amortization of intangible assets expense includes the impact of amortization included in equity in earnings of joint ventures and non-controlling interests. |
About AECOM
AECOM is a premier, fully integrated professional and technical services firm positioned to design, build, finance and operate infrastructure assets around the world for public- and private-sector clients. The firm’s global staff — including architects, engineers, designers, planners, scientists and management and construction services professionals — serves clients in over 150 countries around the world, AECOM is ranked as the #1 engineering design firm by revenue in Engineering News-Record magazine’s annual industry rankings, and has been recognized by Fortune magazine as a World’s Most Admired Company. The firm is a leader in all of the key markets that it serves, including transportation, facilities, environmental, energy, oil and gas, water, high-rise buildings and government. AECOM provides a blend of global reach, local knowledge, innovation and technical excellence in delivering customized and creative solutions that meet the needs of clients’ projects. A Fortune 500 firm, AECOM companies, including URS Corporation and Hunt Construction Group, had revenue of approximately $19 billion during the 12 months ended June 30, 2015. More information on AECOM and its services can be found at www.aecom.com.
Forward-Looking Statements: All statements in this press release other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any projections of earnings, revenue, cash flows, tax rate, share count, amortization, acquisition and integration costs, or other financial items; any statements of the plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements.
Important factors that could cause our actual results, performance and
achievements, or industry results to differ materially from estimates or
projections contained in our forward looking statements include, but are
not limited to, the following: demand for our services is cyclical;
uncertainties related to government contract appropriations;
governmental agencies may modify, curtail or terminate our contracts;
government contracts are subject to audits and adjustments of
contractual terms; losses under fixed-price contracts; limited control
over operations run through our joint venture entities; misconduct by
our employees or consultants or our failure to comply with laws or
regulations applicable to our business; our leveraged position and
ability to service our debt; exposure to legal, political and economic
risks in different countries as well as currency exchange rate
fluctuations; the failure to retain and recruit key technical and
management personnel; our insurance policies may not provide adequate
coverage; unexpected adjustments and cancellations related to our
backlog; dependence on third party contractors who fail to satisfy their
obligations; systems and information technology interruption; and
changing client preferences/demands, fiscal positions and payment
patterns. Additional factors that could cause actual results to differ
materially from our forward-looking statements are set forth in our
reports filed with the Securities and Exchange Commission. We do not
intend, and undertake no obligation, to update any forward-looking
statement.
