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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