Aecom Posts 1Q Profit Growth, Raises FY Outlook

Dow Jones

Feb 04, 2025

By Sabela Ojea

Aecom logged higher profit in its fiscal first quarter and raised its outlook for the year.

The Dallas-based architecture and engineering firm on Monday posted a net profit for the three months ended Dec. 31 of $167 million, or $1.25 a share, compared with $94.4 million, or 69 cents a share, for the same period a year earlier.

Revenue rose 3% to $4.01 billion, missing the $4.08 billion expected by Wall Street, according to FactSet.

Aecom raised its outlook for the full year and said it now expects adjusted earnings of $5.05 to $5.20. In November, it guided for full-year earnings of $4.96 to $5.16 per share, noting that its outlook for the year includes record net service revenue, margins and earnings.

"We are confident that we will achieve our goal of doubling the $200 million of net service revenue in this business over the next three years," Chief Executive Troy Rudd said.

Shares rose 3% in after-hours trading to $107.13.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

February 03, 2025 16:33 ET (21:33 GMT)

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