Published on 7 May 2024 on Zacks via Yahoo Finance
AECOM (ACM) Q2 Earnings Miss, Revenues Top, Backlog Up Y/Y
AECOM ACM reported mixed results for second-quarter fiscal 2024, wherein earnings missed the Zacks Consensus Estimate but the revenues topped the same.On a year-over-year basis, the top and bottom lines increased, backed by solid organic growth in net service revenues (NSR) in its reportable segments.
Delving Deeper
The company reported adjusted earnings per share (EPS) of $1.04, which missed the Zacks Consensus Estimate of $1.05 by 1% but increased 13% from 92 cents reported in the prior-year quarter. The strong improvement was backed by benefits from high-returning organic growth initiatives.Revenues of $3.94 billion remarkably topped the consensus mark of $1.81 billion by 118.4% and grew 13% on a year-over-year basis.