Published on 2 Apr 2024 on Zacks via Yahoo Finance
AECOM (ACM) Secures NASA Environmental Restoration Contract
AECOM ACM clinched a pivotal deal with NASA, earning the nod to provide environmental restoration and compliance services across various U.S. facilities under the NASA Environmental Restoration and Compliance Contract (NERCC).This five-year agreement will see AECOM spearheading environmental restoration endeavors, encompassing activities such as sampling, contaminant investigations, risk assessments, and remediation efforts. Of particular significance, AECOM will play a central role in NASA's initiatives concerning per- and polyfluoroalkyl substances, utilizing its extensive expertise garnered over two decades and spanning more than 500 sites globally.Additionally, this infrastructure consulting firm will extend its support to NASA's compliance and sustainability goals, addressing pollution prevention, recycling, and hazardous materials management across its facilities.The company's arsenal of more than 9,000 environmental professionals, leveraging an extensive Technical Practice Network, stands poised to deliver innovative solutions and state-of-the-art technologies to tackle some of the most daunting remediation projects worldwide. These capabilities will now be harnessed to benefit NASA's environmental programs under the NERCC.By securing this contract, AECOM not only reaffirms its position as a leader in environmental consulting but also underscores its commitment to fostering sustainable solutions for critical infrastructure projects. As the company embarks on this venture with NASA, it signifies a milestone in its mission to address environmental challenges on a global scale, reinforcing its reputation as a trusted partner in environmental stewardship.
Share Price Performance
AECOM has been reaping rewards from its high-yielding organic growth strategies. In the initial quarter of fiscal 2024, revenues increased 15% year over year, reaching $3.9 billion. Adjusted net service revenues (NSR) also saw a notable uptick, rising 7% to $1.71 billion. Within the design business segment, organic NSR witnessed an 8% increase compared with the previous year, primarily driven by robust performance in the water and transportation sectors, along with a noteworthy 9% growth in the Americas region.