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Aecom reports £3bn third quarter revenue

NCE stock business

Aecom has reported $4.4bn (£3.3bn) third quarter revenue, with net income for the company standing at $67.4M (£51.6M).

The company’s planning, consulting, architectural and engineering design services garnered $1.9bn (£1.4bn) in revenue – the UK business achieved 6.3% growth. 

Aecom’s engineering business increased its revenue to $150M (£114.8M) compared to $145M (£110.9M) the previous year. 

“Our third quarter results were highlighted by accelerating growth in the Americas design business, the eighth consecutive quarter of double-digit growth in building construction, a three times book-to-burn [ratio] in our energy and industrial construction business, $191M [£146.2M] of free cash flow, and $177M [£135.4M] of debt reduction,” said Aecom’s chairman and chief executive officer Michael Burke.

“The distinct advantages of our design, build, finance, and operate capabilities are becoming more apparent in the type of work we pursue and win, including $1.1bn [£840M] of power projects we won in the third quarter and the L.A. Rams stadium we and our joint-venture partner were selected to build after the quarter closed.”

“Our performance in the third quarter reflects the benefits of our diverse mix of geographies and end markets,” added Aecom president Stephen Kadenacy. “From this diversity, and through consistent execution, we are able to generate consistent results and deliver value for our stockholders.”

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