AECOM Technology Lifts FY22 Profit Outlook

(RTTNews) - While reporting its results for the first quarter, AECOM Technology Corporation (ACM) raised its outlook for the full year 2022.

For the full year, the company now expects earnings of $3.30 to $3.50 per share, up from previous forecast of $3.20 to $3.40 per share. Analysts polled by Thomson Reuters currently estimate earnings of $3.35 per share for the year.

The company also reiterated its long-term financial targets for fiscal 2024, which include an expectation to deliver adjusted earnings of $4.75+ and a 15% segment adjusted operating margin, as well as a long-term segment adjusted operating margin goal of 17%.

"Our strong first quarter results exceeded our expectations on every key metric, which supports our confidence in raising our full year adjusted EPS guidance, and is a testament to the benefits of our focused Think and Act Globally strategy and the strength of our teams and technical capabilities," said Troy Rudd, AECOM's chief executive officer.