AECOM Turns To Profit In Q2

(RTTNews) - AECOM (ACM) reported that its second quarter net income were $78 million or $0.49 per share, compared to net loss of $120 million or $0.75 per share in the prior year. The prior year result included a $168 million non-cash charge on non-core Oil & Gas assets held for sale; on an adjusted basis, earnings per share was $0.69.

Revenue was $5.0 billion in the second quarter, up 5% over the prior year; organic revenue increased by 7%.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share and revenues of $4.92 billion for the second-quarter. Analysts' estimates typically exclude special items.

The company reiterated its full year financial guidance for adjusted EBITDA growth of 12% at the mid-point, adjusted earnings per share in the range of $2.60-$2.90. Analysts expect annual earnings of $2.76 per share.

The company said it remains committed to its fiscal 2018-2022 financial targets, including a 9% adjusted EBITDA CAGR, a 12%-15% adjusted earnings per share CAGR.