LONDON, UK / ACCESSWIRE / March 02, 2018 / Active-Investors.com has just released a free earnings report on AECOM (NYSE: ACM). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ACM. AECOM reported its first quarter fiscal 2018 operating and financial results on February 06, 2018. The global infrastructure firm, surpassed top- and bottom-line expectations and re-affirmed its guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Earnings Highlights and Summary

AECOM reported first quarter fiscal 2018 revenue of $4.91 billion, up 13% compared to revenue of $4.36 billion in Q1 FY17. The Company's organic revenue increased by 8% to a new all-time high and included growth in each of its segments. AECOM's reported numbers exceeded analysts' estimates of $4.59 billion.

For Q1 FY18, AECOM's net income and diluted earnings per share were $111.31 million and $0.69, respectively, compared to earnings of $47.18 million, or $0.30 per diluted share, in Q1 FY17. AECOM's reported quarter GAAP results included the revaluation of deferred tax assets and liabilities, which resulted in a $113 million benefit. A one-time tax repatriation toll charge of $71 million was accrued. On an adjusted basis, diluted earnings per share was $0.57 compared to $0.53 per diluted share in the year ago same period and came in ahead of Wall Street's estimates of $0.55 per share.

AECOM's Business Segments Results

During Q1 FY18, the Design & Consulting Services (DCS) segment's revenue totaled $1.94 billion, up 5.4% compared to $1.84 billion in Q1 FY17. The segment's constant-currency organic revenue grew by 5% and included strong performance in the Company's transportation and water markets in the America. For Q1 FY18, DCS' operating income was $85 million compared to $99 million in Q1 FY17. On an adjusted basis, the segment's operating income was $92 million versus $108 million in the year ago comparable period. The segment's reported quarter results included $21 million for previously-disclosed restructuring costs.

For Q1 FY18, the Construction Services (CS) segment's revenue totaled $2.13 billion, up 21.8% compared to $1.75 billion in Q1 FY17. The segment's constant-currency organic revenue advanced 11% on a y-o-y basis, led by continued strong growth in the Building Construction and Power businesses. In Q1 FY18, CS division's operating income was $40 million compared to $18 million in Q1 FY17. On an adjusted basis, the segment's operating income soared 104% to $51 million compared to $25 million in the year ago same period, driven by the Power and Building Construction businesses and the recently-acquired Shimmick Construction business.

During Q1 FY18, the Management Services (MS) segment's revenue was $843.45 million, up 9.9% compared to $767.34 million in Q1 FY17. The segment's organic revenue advanced 10% on a y-o-y basis, reflecting strong business momentum and the successful conversion of the Company's record backlog into revenue. The segment's operating income was $40 million in Q1 FY18 compared to $74 million in Q1 FY17. On an adjusted basis, the segment's operating income totaled $50 million compared to $87 million in the year ago same period. Excluding a $35 million benefit from a legal settlement disclosed in the year ago corresponding period, adjusted operating income would have been effectively unchanged from the prior year.

Wins and Backlog

AECOM's wins were $6.1 billion in Q1 FY18 and resulted in a book-to-burn ratio of 1.2. The Company's wins were highlighted by strength across the business, including greater than 1 book-to-burn ratios in the DCS, CS, and MS segments. Total backlog increased 11%3 on a y-o-y basis to a record $49 billion and continued to reflect a favorable mix shift to the higher-margin DCS and MS segments.

Cash Flow

AECOM's operating cash flow was $52 million and free cash flow was $34 million for Q1 FY18. The Company noted that it remains on track with its annual free cash flow guidance of $600 million to $800 million for fiscal 2018.

As of December 31, 2017, AECOM had $813 million of total cash and cash equivalents, $3.1 billion of net debt, and $915 million in unused capacity under its $1.05 billion revolving credit facility.

Financial Outlook

For fiscal year 2018, AECOM is reiterating adjusted EBITDA guidance of $910 million and adjusted EPS guidance of between $2.50 and $2.90. The Company remains on track to achieve 2.5x net debt-to-EBITDA by the end of FY18 and thereafter intends to return substantially all free cash flow to investors under a $1 billion stock repurchase authorization.

Stock Performance Snapshot

March 01, 2018 - At Thursday's closing bell, AECOM's stock declined 1.46%, ending the trading session at $34.99.

Volume traded for the day: 752.37 thousand shares.

Stock performance in the previous six-month period ? up 8.46%

After yesterday's close, AECOM's market cap was at $5.48 billion.

Price to Earnings (P/E) ratio was at 11.77.

The stock is part of the Services sector, categorized under the Technical Services industry.

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