Exhibit 99.1

 

 

 

 

 
     

Press Release

 

Investor Contact:
Will Gabrielski

Senior Vice President, Finance, 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

 

AECOM reports fourth quarter and full year fiscal 2020 results

 

LOS ANGELES (Nov. 16, 2020)

— AECOM (NYSE:ACM), the world’s premier infrastructure consulting firm, today reported fourth quarter and full year fiscal 2020 results.

 

  Fourth Quarter Fiscal 2020   Full Year Fiscal 2020

(from Continuing Operations;

$ in millions, except EPS)

As
Reported

Adjusted1

(Non-GAAP)

As
Reported
YoY %
Change
Adjusted
YoY %
Change
  As
Reported

Adjusted1

(Non-GAAP)

As
Reported
YoY %
Change
Adjusted
YoY %
Change
Revenue $3,569 -- 2% --   $13,240 -- (3%) --
Net Service Revenue (NSR)2 -- $1,564 -- (8%3)   -- $6,177 -- (2%3)
Operating Income $65 $170 (50%) (2%)   $381 $629 (4%) 16%
Segment Operating Margin4 (NSR) -- 12.7% -- -10 bps   -- 12.3% -- +160 bps
Net Income $0 $97 NM (7%)   $170 $347 (19%) 17%
EPS (Fully Diluted) $0.00 $0.60 NM (8%)   $1.06 $2.15 (20%) 16%
EBITDA5 -- $204 -- 0%   -- $746 -- 14%
Operating Cash Flow $649 -- (18%) --   $330 -- (58%) --
Free Cash Flow6 -- $619 -- (21%)   -- $341 -- (51%)
Backlog $41,173 -- 13%7 --          

 

Full Year Fiscal 2020 Accomplishments

 

·Revenue was $13.2 billion, and net service revenue2 of $6.2 billion declined by 2% compared to the prior year on an organic basis3.

·Operating income was $381 million and net income decreased by 19% to $170 million; diluted earnings per share was $1.06 and adjusted1 diluted earnings per share was $2.15.

·Adjusted1 EBITDA5 exceeded the Company’s guidance, increasing by 14% to $746 million, marking a new high for the Professional Services business;

·The operating income margin decreased by 190 basis points to 1.8% in the fourth quarter and was unchanged with the prior year at 2.9% for the full year.

·The segment adjusted1 operating margin4 on NSR2 increased by 160 basis points to 12.3%, also a new high for the Professional Services business and 60 basis points above the Company’s prior guidance.

·Operating cash flow was $330 million and free cash flow6 was $341 million, which exceeded the Company’s guidance range and included $619 million of free cash flow in fourth quarter.

·The Company expects to a deliver 9% adjusted EBITDA1 growth and 23% adjusted EPS1 growth in fiscal 2021 at the mid-point of its respective guidance ranges.

·The Company has executed $455 million of stock repurchases since the beginning of September 2020, which reduced the diluted share count by approximately 6.5% to date.

·Consistent with its plan to return substantially all available cash and free cash flow to shareholders, the Company announced today an increase to the existing remaining Board repurchase authorization from $305 million to $1 billion, positioning the Company to continue repurchase substantial stock in fiscal 2021.

·In October 2020, the Company continued its transformation to a higher-margin and lower-risk Professional Services business with the completed disposition of the Power construction business and in January 2020 the completed sale of the Management Services business.

·The Company also announced today its Think and Act Globally strategy aimed at setting a new standard of excellence for the Professional Services industry by extending its global expertise to each of its projects and clients around the world through enhanced collaboration, transforming the way it delivers work through technology and digital platforms, and enhancing its position as a leading ESG company.

 


The following information was filed by Aecom (ACM) on Monday, November 16, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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