AECOM, together with its subsidiaries, provides professional infrastructure consulting services for governments, businesses, and organizations internationally. The company operates in three segments: Americas, International, and AECOM Capital. The company offers advisory, planning, consulting, architectural and engineering design, construction and program management services, and investment and development services to public and private clients in major end markets such as transportation, facilities, water, environmental, and energy. It is also involved in the investment and development of real estate projects. The company was formerly known as AECOM Technology Corporation and changed its name to AECOM in January 2015. AECOM was incorporated in 1980 and is headquartered in Dallas, Texas.
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Zacks Names EnerSys Bull and AECOM Bear of the Day
Zacks Equity Research has named EnerSys as its Bull of the Day and AECOM as its Bear of the Day. EnerSys, a Zacks Rank #1 (Strong Buy), beat the Zacks Consensus by $0.84 in its fiscal 2027 first quarter with earnings of $3.66, and guided fiscal second quarter earnings to a range of $3.15 to $3.25, above the consensus of $3.01. AECOM, a Zacks Rank #5 (Strong Sell), missed the Zacks Consensus by $1.99 in its fiscal third quarter of 2026, reporting a loss of $0.50 versus the consensus of $1.49, due to a $337 million pre-tax charge on a Construction Management project. Zacks Equity Research also provides analysis on NVIDIA Corporation's NVDA and Advanced Micro Devices, Inc. AMD.
AECOM Posts Record Backlog and $337 Million Charge
AECOM reported a record backlog and quarterly wins alongside a $337 million pretax charge tied to a delayed construction project in its third quarter. The backlog grew 13% to an all-time high with a company-wide book-to-burn ratio of 1.6, while adjusted EBITDA rose 5% and adjusted earnings per share climbed 11% year over year. The charge stems from a construction management project first bid in 2019, where subcontractor productivity pushed substantial completion from the first quarter of fiscal 2027 to near the end of the second quarter, costing $1.99 of earnings per share and forcing a $185 million cash use. Management expects the project to keep burning cash through the first half of fiscal 2027 and raised its full-year adjusted EBITDA margin outlook to 17.4% from 17%. The Americas segment saw net service revenue decline 29% primarily due to the charge, while design net service revenue grew 6% on a constant-day basis.
AECOM reported second quarter results that missed Wall Street expectations on both revenue and adjusted earnings, prompting management to lower its full-year guidance. Revenue came in at $3.59 billion versus analyst estimates of $4.31 billion, a 14.2% year-on-year decline, while adjusted EPS was negative $0.50 compared to estimates of $1.46. The company attributed the shortfall primarily to a large charge related to delays and cost overruns on a legacy construction management project, with CEO Troy Rudd citing subcontractor productivity issues. Management lowered full-year adjusted EPS guidance to $4.05 at the midpoint, a 32.5% decrease, and set EBITDA guidance at $950 million, below analyst estimates of $1.28 billion. Backlog stood at $27.82 billion at quarter end, up 13.1% year on year.
Aecom Stock Crashes to 52-Week Low on Project Loss
Aecom shares plunged 17.9% to a 52-week low of $60.35 this week after the engineering and consulting giant reported a $377 million pre-tax loss on a single construction project. The company posted a net loss of $0.65 per share for its third quarter of fiscal 2026, versus earnings of $1.32 per share a year earlier, as subcontractors fell behind schedule and costs exceeded estimates on a project signed in 2019 under terms that would not meet current risk policies. Revenue slipped 14% year over year, and management slashed full-year adjusted EPS guidance to $3.95 to $4.15 per share and free cash flow to only $300 million, down from a prior forecast of $5.90 to $6.10 per share and $400 million. Despite the setback, Aecom's backlog jumped 13% to a record $27.8 billion with a book-to-burn ratio of 1.6, indicating strong demand, but investors remain concerned about potential further losses before the project completes in mid-2027 and the company's heavy reliance on government contracts.
Wendy's, Quantinuum, CoreWeave lead midday stock movers
Several companies made notable moves in midday trading, led by Wendy's jumping 13% after The Financial Times reported that Nelson Peltz' Trian Fund Management was preparing a bid to take the fast food chain private. Quantinuum rallied more than 21% after issuing better-than-expected 2026 revenue guidance of $28 million to $32 million, above the FactSet consensus of $26.5 million. CoreWeave gained 18% after reporting second quarter adjusted operating income margin of 5%, beating the StreetAccount estimate of 2.7%, and revenue of $2.58 billion, up 112% year over year. Super Micro Computer rose 14% on strong first quarter guidance, expecting adjusted earnings of $1.01 to $1.10 per share versus the LSEG consensus of 76 cents, and revenue of $14.5 billion to $15.5 billion, far above the anticipated $11.68 billion. H&R Block surged 15% after issuing an upbeat fiscal 2027 forecast of adjusted earnings between $6.04 and $6.24 per share on revenue of $4.11 billion to $4.16 billion, compared to LSEG estimates of $5.86 per share and $4.05 billion. Cava Group jumped 12% after second quarter earnings of 19 cents per share topped the LSEG consensus of 18 cents, with revenue of $368.4 million beating the expected $361 million. National Vision tumbled 6% after full-year guidance of 94 cents to $1.09 per share on revenue of $2.037 billion to $2.076 billion fell short of FactSet estimates of 96 cents and $2.06 billion. Aecom dropped 6% on weak fiscal third quarter results, with revenue of $3.59 billion down about 14% year over year and net service revenue in the Americas of $808.4 million below the FactSet forecast of $1.24 billion. Velo3D jumped 12% after raising its full-year revenue outlook to $65 million to $75 million, up from $60 million to $70 million, versus the FactSet consensus of $64.4 million. Lumentum Holdings rose 15% after fourth quarter adjusted earnings and revenue exceeded expectations, and Nebius Group jumped more than 25% on better-than-expected EBITDA and revenues. Coherent gained more than 9% ahead of its own earnings after the bell, and Kontoor Brands added 7% after second quarter earnings slightly beat expectations and full-year guidance was raised above consensus.
Aecom Stock Drops After Surprise Quarterly Loss on Old Contract Charge
Aecom shares fell 5.5% after the engineering firm reported a surprise fiscal third-quarter loss of $0.50 per share, missing analyst expectations for a $1.51 per share profit. The loss stemmed from a $337 million pre-tax charge tied to higher projected costs on a construction management contract signed in 2019, which management said would not be accepted under current risk policies. Revenue of $3.6 billion, though 80% above Wall Street's $2 billion estimate, declined 14% year over year, and free cash flow dropped 79% to $55 million. The company still expects to generate $300 million in free cash flow for the full year, but the stock trades at a price-to-free cash flow ratio of 32 times based on that target.
AECOM Wins Major Digital Rail and Water Contracts in Australia, Canada, and UK
AECOM announced a series of major contract wins in July 2026, including roles on Queensland's The Wave rail project, Canada's Alexandra Bridge replacement, and Thames Water's approximately £340 million Oxford Sewage Treatment Works upgrade. These projects highlight AECOM's expanding role in complex, digitally delivered transport and water infrastructure, underpinning its global public-sector consulting and engineering franchise. The Thames Water upgrade, at about £340 million, aligns with AECOM's push into higher-value water and environmental work tied to regulatory and capacity needs. While the wins modestly reinforce the company's investment narrative, they do not fundamentally change the near-term focus on converting a record backlog into higher-margin, digitally delivered consulting revenue, nor the key risk that policy shifts or budget constraints could slow infrastructure awards and delay project execution.
Truist Keeps Buy Rating on AECOM, Lowers Price Target to $102
Truist maintained a Buy rating on AECOM but lowered its price target to $102 from $109 on July 2, 2026, as part of a second-quarter preview for the machinery, infrastructure services, and multi-industry group. The firm sees a positive setup for Q2 earnings across the sector, citing strong demand trends supported by secular growth tailwinds in power, data center, aerospace and defense, and infrastructure. AECOM recently secured a position on nine lots of the UK Government's $4.7 billion Construction Professional Services 2 Framework, up from five in the previous framework, covering areas such as general infrastructure, project management, defense, and nuclear energy. The company was also selected to continue providing architecture and engineering services to the U.S. Department of Homeland Security for critical infrastructure modernization across all 50 states and several territories.
AECOM Chosen as Lead Engineering Consultant for MCG Stadium Redevelopment
AECOM has been selected as the lead engineering consultant for the redevelopment of the Melbourne Cricket Ground stadium. The company will work alongside lead architects MANICA, Foster + Partners, and Architectus Australia to assess the current condition of the venue, including the ageing Shane Warne Stand, and analyze options for future redevelopment that meets modern needs. The project aims to protect the MCG's historical and cultural significance while upgrading facilities, inclusivity, accessibility, and the overall experience for athletes and audiences. AECOM's cross-functional team will bring expertise in cost and risk management, project scheduling, and constructability, with sustainability specialists ensuring environmental performance is a fundamental design driver.
AECOM Secures Eight Lots on Scotland Excel Engineering Consultancy Framework
AECOM has secured eight lots on Scotland Excel's Engineering and Technical Consultancy Framework, expanding its role in providing engineering and technical consultancy services to Scotland's local government sector. The four-year framework offers a collaborative procurement route for 32 Scottish councils and associate members seeking design and construction consultancy expertise. Under the appointment, AECOM will deliver transportation, water, environmental design, project management and commercial management services. The latest award represents a broader role in the second-generation framework and reflects an expansion in the company's service coverage. The expanded appointment allows AECOM to support local authorities across a wider range of engineering and technical consultancy requirements through its local teams backed by integrated expertise across the United Kingdom.
AECOM faces cash strain and legal probes amid UK framework expansion
AECOM disclosed weaker fiscal 2026 second quarter cash generation tied to delayed claim resolutions on older projects, prompting law firm investigations into its financial disclosures and business practices. At the same time, the company secured an expanded role on the UK Government Commercial Agency's US$4.70 billion Construction Professional Services 2 Framework, increasing its participation from five to nine lots across critical infrastructure and defense-related services. The cash flow pressures and related investigations could weigh on sentiment, even as the framework win supports the consulting-led growth narrative.
StockStory names Take-Two a buy, flags Carriage Services and AECOM as sells
StockStory highlights Take-Two Interactive as a cash-producing stock worth buying, while questioning Carriage Services and AECOM. Take-Two, known for Grand Theft Auto and NBA 2K, is praised for a 26.3% sales growth outlook, 38.1% annual EPS growth over three years, and a free cash flow margin that rose 10.7 percentage points. Carriage Services is flagged for muted 3.6% annual revenue growth over five years and a weak 10.4% free cash flow margin over two years. AECOM faces concerns over a 2% average backlog decline over two years, tepid 4% growth estimates, and a free cash flow margin that dropped 3 percentage points over five years.
Engineering and Design Services Stocks Post Exceptional Q1 with Revenues Beating Estimates by 14.4%
The five engineering and design services stocks tracked by StockStory reported an exceptional first quarter, with aggregate revenues surpassing analysts' consensus estimates by 14.4% and next-quarter revenue guidance coming in 6.6% above expectations. EMCOR, one of the group, posted revenues of $4.63 billion, up 19.7% year on year and beating estimates by 10.3%, while also raising full-year revenue guidance above analyst projections. Sterling Infrastructure delivered the strongest performance, with revenues of $825.7 million soaring 91.6% year on year and exceeding estimates by 39.5%, alongside the highest full-year guidance raise among peers. AECOM was the weakest, reporting flat revenues of $3.80 billion that missed estimates by 5.3%. Dycom and MasTec also beat revenue estimates, with Dycom achieving the highest guidance raise among its peers and MasTec recording the weakest guidance update. Share prices across the group have risen 12.6% on average since the latest earnings results.
Rolls-Royce signs nuclear tech deals with UK and Japan, wins Sweden SMR contract
Rolls-Royce has signed trilateral Memorandums of Cooperation with the UK National Nuclear Laboratory and the Japan Atomic Energy Agency to accelerate high-temperature gas-cooled reactor designs and next-generation fuel. The company was also selected by Videberg Kraft, a partnership involving state-owned utility Vattenfall, to deliver three small modular reactors for Sweden's first new nuclear power plant in more than four decades. Separately, Jacobs was awarded a contract by Great British Energy – Nuclear to provide environmental baseline studies for future UK nuclear development at the Oldbury site in South Gloucestershire, working with subconsultants AtkinsRéalis and AECOM. These developments highlight how UK nuclear capabilities are converting policy support into revenue opportunities, with Rolls-Royce now holding contractual commitments across Europe and Jacobs leveraging over 60 years of nuclear lifecycle experience.
AECOM secures nine lots on UK Government Commercial Agency CPS2 Framework
AECOM has been appointed to nine lots on the UK Government Commercial Agency's Construction Professional Services 2 Framework, a multi-billion dollar procurement vehicle valued at $4.7 billion. The four-year framework, which began its second iteration after AECOM's initial appointment in 2021, expands the company's role from five lots previously to nine, including newly established lots for nuclear energy and flood risk and asset management. The framework serves as a primary route for UK public sector entities to procure construction professional and technical services across sectors such as education, housing, energy, and health. AECOM's president Lara Poloni highlighted the increased routes to market and the strength of the firm's multidisciplinary offerings, while Richard Whitehead, chief executive of Europe and India, emphasized the opportunity to deepen relationships with central government departments, local authorities, and the Environment Agency.
Federal Signal Touted as Long-Term Buy While Oshkosh and AECOM Underwhelm
StockStory highlights Federal Signal as a profitable stock to own for decades, while flagging Oshkosh and AECOM as less compelling. Federal Signal, with a trailing 12-month GAAP operating margin of 16%, posted annual revenue growth of 15.3% over the last two years and saw its free cash flow margin increase by 11.1 percentage points over five years. In contrast, Oshkosh carries an 8.1% operating margin and has experienced a 4.7% average backlog decline over two years, while AECOM's 6.3% operating margin is accompanied by a 2% average backlog drop and a 3 percentage point decline in free cash flow margin over five years. Federal Signal trades at $118.52 per share, or 22.6 times forward P/E, compared to Oshkosh at $139.62 and AECOM at $69.99, both at 11.3 times forward P/E.
AECOM sees AI as strategic growth driver amid infrastructure demand
AECOM is increasingly viewing artificial intelligence as a strategic growth driver rather than just an operational tool, with management noting that proprietary AI-enabled solutions are already contributing to major project wins in infrastructure and energy markets. The company’s investments in AI enhance project planning, engineering design, program management and delivery efficiency, helping improve productivity and strengthen its competitive position. Governments and private-sector clients worldwide are accelerating spending on AI-related infrastructure, including data centers, power networks and digital connectivity projects, and AECOM’s broad service portfolio allows it to participate across the entire project lifecycle. The company’s Advisory business continues to deliver double-digit growth, while opportunities in energy transition, grid modernization, defense and advanced technologies expand its addressable market. AECOM shares have fallen 23% in the past three months and currently carry a Zacks Rank #3, with a forward 12-month price-to-earnings ratio of 10.64 and upward earnings estimate revisions for fiscal 2026 and fiscal 2027 implying year-over-year growth of 13.5% and 13.1%, respectively.
AECOM Hires David Rottblatt to Lead Private Sector Aviation Growth
AECOM has appointed David Rottblatt as Senior Vice President and Director of Strategic Private Sector Client Growth in its Aviation Market Sector. Rottblatt, who previously served as Chief Operating Officer at Supernal, brings more than two decades of leadership experience, including 15 years in the global aviation industry, and will be based in California. The hire follows a new $500 million revolving credit agreement with a lender syndicate led by Bank of America, maturing June 9, 2028, and a Barclays price target cut to $90 from $110 with an Equal Weight rating.
AECOM Stock Slips 21% in Three Months Amid Macro Pressures
AECOM shares have fallen 21.1% over the past three months, underperforming the Zacks Engineering - R and D Services industry, the broader Zacks Construction sector, and the S&P 500 index. The decline is driven by broader macroeconomic risks including tariff and trade policy uncertainties and elevated structural inflation in labor and material costs, rather than company-specific problems. Despite near-term headwinds, the company reported a record backlog of $26.2 billion at the end of its fiscal second quarter, up 8% year over year, and raised its fiscal 2026 adjusted EPS guidance for a second consecutive quarter to a range of $5.90 to $6.10. AECOM is also investing in proprietary AI and digital delivery capabilities and expanding its Advisory business, which management says is on track to double in size within three years. The stock currently trades at a forward price-to-earnings ratio of 10.9, a discount to industry peers, and carries a Zacks Rank #3 (Hold).