AECOM's Backlog Rides Power, Transportation Projects to Highs

May 22, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Engineering and design-build firm AECOM (NYSE:ACM) (Los Angeles, California) saw its backlog hit a record high in the recently ended second quarter of its 2024 fiscal year, with wins in its energy, environmental and transportation end markets pointing to continued demand growth in the near term.

Industrial Info is tracking more than $27 billion worth of active and planned projects across the U.S. and Canada that involve AECOM's services, more than half of which is attributed to projects nearing or under construction. AECOM's total backlog increased 3% to a record $23.7 billion, driven by "a continued high win rate and a growing contribution from larger wins that enhance long-term earnings visibility," according to a quarterly press release. Revenues for the fiscal second quarter increased 13% to $3.9 billion.

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