Aecom’s Q1 growth exceeds expectations

Revenue grew 15% year on year to US$3.9 billion, and net income increased 11% to $97 million. The company also highlighted a strong backlog and margin expansion.

Aecom’s strong performance was driven by growth in all of its major business lines. The company’s Design and Consulting Services segment saw revenue growth of 16%, while its Construction Services segment grew 13%.

“We are pleased to report another quarter of strong financial performance,” said Steve Koster, Aecom’s chairman and CEO. “Our diversified business model and global reach continue to position us well for success in the current environment.”

The company’s backlog of unbilled services also grew significantly, reaching $14.2 billion at the end of the quarter.

The company reiterated its financial guidance for fiscal 2024, which calls for revenue growth of 8% to 10% and adjusted EPS growth of 10% to 15%.

“We are confident in our ability to continue to deliver strong results in the year ahead,” said Koster. “We are well-positioned to capitalize on the opportunities in the global infrastructure market.”