Infrastructure consulting service company AECOM (NYSE:ACM) will be announcing earnings results tomorrow afternoon. Here’s what you need to know.
AECOM missed analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $4.01 billion, up 2.9% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EPS estimates but adjusted operating income in line with analysts’ estimates.
Is AECOM a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting AECOM’s revenue to grow 5.6% year on year to $4.17 billion, slowing from the 13% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.19 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AECOM has missed Wall Street’s revenue estimates twice over the last two years.
Looking at AECOM’s peers in the construction and engineering segment, some have already reported their Q1 results, giving us a hint as to what we can expect. EMCOR delivered year-on-year revenue growth of 12.7%, beating analysts’ expectations by 2.2%, and MasTec reported revenues up 6%, topping estimates by 4.9%. EMCOR’s stock price was unchanged after the resultswhile MasTec was up 5.4%.
Read our full analysis of EMCOR’s results here and MasTec’s results here.
There has been positive sentiment among investors in the construction and engineering segment, with share prices up 13% on average over the last month. AECOM is up 17.2% during the same time and is heading into earnings with an average analyst price target of $116.50 (compared to the current share price of $102.37).
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