Aecom: Revenues rise and debt falls in Q2 of 2023

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AECOM’s latest financial report suggests they are on track for a strong year, with debt ratios while revenue and EBITDA rise. 

In the second quarter of 2023, AECOM reported increased revenue of $3.7bn, having already risen to $3.5bn in Q1. Its leverage ratio also fell from 1.1 to 0.9 over the quarter. 

Q2 results include a $241m after-tax, non-cash impairment related to the Company’s decision to transition the non-core AECOM Capital business. However, organic net service revenue growth in the design business was 10%, driven by growth in nearly every major geography, with the design backlog rising to record highs. 

Lara Poloni, AECOM’s president, commented: “Our leading technical capabilities and culture of collaboration are combining to create an unrivaled competitive advantage at a time when end market funding visibility is stronger than ever, which is translating to many commercial successes that are highlighted by our third quarter results. The three secular megatrends of continued investments in global infrastructure, sustainability and resilience, and long-term energy and supply chain transitions are converging and accelerating to create a multi-decade growth cycle. To meet this demand, we are investing in innovation and delivery efficiencies, which allow us to expand our capacity and take full advantage of our global scale.”

AECOMJune 30 2023March 31 2023
Revenues (millions)$3,664$3,490,2
Adjusted EBITDA (millions)$247$222.3
Segment adjusted operating margin* (%)15.214.5
Net leverage (debt) (ratio)0.91.1
Order Book (millions)$41,631$41,983