AECOM CEO Troy Rudd to discuss its long-term strategic priorities in fireside chat
August 17 2020 - 6:55AM
Business Wire
AECOM (NYSE:ACM), the world’s premier infrastructure consulting
firm, announced today that Troy Rudd, AECOM’s chief executive
officer, will participate in a fireside chat hosted by Citi on
August 19th at 11 a.m. Eastern Time. The discussion will include
prepared remarks and a question and answer session, with a focus on
the Company’s strategic and financial priorities.
“I am proud of how the organization has banded together to
deliver exceptional performance despite the unprecedented
challenges facing our teams, clients, and the communities in which
we work,” said Mr. Rudd. “I look forward to discussing in more
detail how, in partnership with Lara Poloni, our president, and our
great leadership team, we are continuing our transformation into a
higher-margin, lower-risk Professional Services business with a key
objective of creating value for all stakeholders.”
Key Topics to Be
Discussed
- AECOM’s vision for creating value for all stakeholders,
including its employees, clients and shareholders as the world’s
premier infrastructure consulting firm.
- How investments in teams, innovation and leading the industry’s
digital transformation, and an emphasis on equity, diversity, and
inclusion creates a Company that is sought after by the industry’s
most talented people to build their careers.
- The Company’s focus on driving efficiencies across its
operations to ensure continued strong client delivery and improved
profitability.
- The Company’s capital allocation priorities that include
creating industry-leading shareholder value through a highly cash
generative business model, strong balance sheet and capital to
invest in teams, innovations and to return to shareholders over
time.
AECOM’s momentum was underscored by its recently announced
fiscal third quarter results that included a seventh-consecutive
quarter of double-digit adjusted EBITDA1 growth and a 13.2% segment
adjusted operating margin1, 2 that reflected a 250 basis point
improvement over the prior year. As a result, the Company increased
its full year adjusted EBITDA guidance on August 4, 2020 to between
$720 million and $740 million, which would reflect 11% growth at
the mid-point of the range and mark a second consecutive quarter of
double-digit earnings growth.
Associated materials will be posted online at
https://investors.aecom.com, where available.
1 Excludes the impact of non-operating items, such as non-core
operating losses and transaction-related expenses, restructuring
costs and other items. See Regulation G Information for a complete
reconciliation of Non-GAAP measures.
2 Reflects segment operating performance, excluding AECOM
Capital.
About AECOM
AECOM (NYSE:ACM) is the world’s premier infrastructure
consulting firm, delivering professional services throughout the
project lifecycle – from planning, design and engineering to
program and construction management. We partner with our clients in
the public and private sectors to solve their most complex
challenges and build legacies for generations to come. On projects
spanning transportation, buildings, water, governments, energy and
the environment, our teams are driven by a common purpose to
deliver a better world. AECOM is a Fortune 500 firm with revenue of
approximately $20.2 billion during fiscal year 2019. See how we
deliver what others can only imagine at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of
historical fact are “forward-looking statements” for purposes of
federal and state securities laws, including any statements of the
plans, strategies and objectives for future operations,
profitability, strategic value creation, coronavirus impacts, risk
profile and investment strategies, and any statements regarding
future economic conditions or performance, and the expected
financial and operational results of AECOM. 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: our
business is cyclical and vulnerable to economic downturns and
client spending reductions; impacts caused by the coronavirus and
the related economic instability and market volatility, including
the reaction of governments to the coronavirus, including any
prolonged period of travel, commercial or other similar
restrictions, the delay in commencement, or temporary or permanent
halting of construction, infrastructure or other projects,
requirements that we remove our employees or personnel from the
field for their protection, and delays or reductions in planned
initiatives by our governmental or commercial clients or potential
clients; losses under fixed-price contracts; limited control over
operations run through our joint venture entities; liability for
misconduct by our employees or consultants; failure to comply with
laws or regulations applicable to our business; maintaining
adequate surety and financial capacity; high leverage and potential
inability to service our debt and guarantees; exposure to Brexit;
exposure to political and economic risks in different countries;
currency exchange rate fluctuations; retaining and recruiting key
technical and management personnel; legal claims; inadequate
insurance coverage; environmental law compliance and adequate
nuclear indemnification; unexpected adjustments and cancellations
related to our backlog; partners and third parties who may fail to
satisfy their legal obligations; AECOM Capital real estate
development projects; managing pension cost; cybersecurity issues,
IT outages and data privacy; risks associated with the benefits and
costs of the Management Services transaction, including the risk
that the expected benefits of the Management Services transaction
or any contingent purchase price will not be realized within the
expected time frame, in full or at all; the risk that costs of
restructuring transactions and other costs incurred in connection
with the Management Services transaction will exceed our estimates
or otherwise adversely affect our business or operations; as well
as other additional risks and factors that could cause actual
results to differ materially from our forward-looking statements
set forth in our reports filed with the Securities and Exchange
Commission. Any forward-looking statements are made as of the date
hereof. We do not intend, and undertake no obligation, to update
any forward-looking statement.
AECOM
Regulation G
Information
(in millions, except per share
data)
Reconciliation of
Net Income Attributable to AECOM to Adjusted EBITDA
Three Months Ended
Jun 30, 2019
Jun 30, 2020
Net income attributable to AECOM
$
56.0
$
91.1
Income tax expense (benefit)
27.2
(7.2
)
Income attributable to AECOM
83.2
83.9
Depreciation and amortization expense1
42.6
51.3
Interest income2
(3.0
)
(2.6
)
Interest expense3
40.7
34.9
Amortized bank fees included in interest
expense
(2.5
)
(1.3
)
EBITDA
$
161.0
$
166.2
Non-core operating losses &
transaction related expenses
(2.5
)
-
Restructuring costs
-
20.3
Adjusted EBITDA
$
158.5
$
186.5
1
Excludes depreciation from
non-core operating losses, and accelerated depreciation of project
management tool;
2
Included in other income;
3
Excludes related amortization
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version on businesswire.com: https://www.businesswire.com/news/home/20200817005107/en/
Investor Contact: Will Gabrielski Senior Vice President,
Investor Relations 213.593.8208 William.Gabrielski@aecom.com
Media Contact: Brendan Ranson-Walsh Vice President,
Global Communications & Corporate Responsibility 213.996.2367
Brendan.Ranson-Walsh@aecom.com
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