Sales down for Aecom but ‘megatrends’ point to a bright future

Aecom has reported revenue of US$3.2 million for the third quarter of 2022, a 5% decrease from the second quarter, although operating income was recorded to have increased 14% to US$183 million.

Aecom has revealed its third quarter 2022 financial results (Photo: Adobe Stock)

Despite the decline in revenue Troy Rudd, AECOM’s chief executive officer, was positive about the company’s future. 

“We are positioned better than ever to capitalize on record infrastructure funding. The three long-term mega-trends of a global infrastructure renaissance, ESG investments, and client investments to adapt to a post-pandemic world are fully intact, which underpins our confidence in the future,” he said. 

Net service revenue for the US-based company saw 6% growth, with further growth across the business. This was said to be due to the company’s high win rate and record backlog in the design business.

Revenue in the Americas was recorded to be US$2.5 billion in the third quarter of this year with net service revenue at US$926 million – a 4% increase from the prior year.

Internationally, the company’s largest and most profitable markets – the UK, Australia and the Middle East – saw revenue of US$784 million.

View an exclusive ranking of the world’s top 200 contractors in the latest issue of International Construction magazine. To see the top ten contractors, click here.