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AECOM (ACM) Wins Hamad International Airport Expansion Deal
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AECOM (ACM - Free Report) has received a six-year program management services contract from the Qatar Company for Airports Operation and Management to support its Cargo Terminal 2 and Amiri Flight Facilities, part of the Hamad International Airport Expansion Program.
Per the contract, AECOM will provide project and construction management services for cargo terminal and ancillary supporting buildings including a veterinary inspection center, central utility plant, and infrastructure diversions. Going forward, a cargo bridging facility will be created to accommodate predicted overflow from Cargo Terminal 1. The cargo bridging facility will be prioritized for operational readiness before the start of the FIFA World Cup Qatar in November 2022.
AECOM’s chief executive for the Middle East & Africa, Hamed Zaghw, said, “We are fully committed to helping achieve the goals of the Hamad International Airport Expansion Project, which will prepare it for future growth and triple the airport’s overall cargo capacity. The project will enhance the delivery and processing of supplies and important cargo to Qatar, helping to meet the demands of its growing economy while significantly enhancing its global freight operations.”
Solid Project Execution Aids AECOM
AECOM is a leading solutions provider for supporting professional, technical, and management solutions for diverse industries across end markets like transportation, facilities, government as well as environmental, energy, and water businesses. Currently, this leading professional, technical and management solution provider has been witnessing a robust pipeline of pursuits across the business.
AECOM has been benefiting from solid infrastructure spending in the United Kingdom, Canada, Hong Kong and Australia. Overall, backlog from the international segment (which includes businesses in Europe, the Middle East, Africa, and the Asia-Pacific regions) grew 10.2% year over year to $5.21 billion for fiscal 2021, reflecting market share gains and visibility into growth. Management remains confident of attaining its goal of achieving double-digit International margins by 2024.
Image Source: Zacks Investment Research
The stock has rallied 54.4% over a year compared with the industry’s 34.9% growth. Earnings estimates for fiscal 2022 have moved up 3.1% in the past 30 days, depicting analysts' optimism over bottom-line growth potential. The Zacks Consensus Estimate for the Zacks Rank #3 (Hold) company’s fiscal 2022 earnings indicates a 17% increase from the 2021 level. AECOM currently has good visibility into growth and a strong backlog for the upcoming quarters.
Some Better-Ranked Stocks in the Construction Sector
Beazer Homes USA, Inc. (BZH - Free Report) currently sports a Zacks Rank #1. This Atlanta-based homebuilder continues to gain from strong operational execution and persistent strength in the housing market.
Beazer Homes’ shares have gained 44.1% in the past year compared with the industry’s 33.4% rally. Earnings are expected to rise 23.7% in fiscal 2022.
TRI Pointe Group Inc. (TPH - Free Report) currently sports a Zacks Rank #1. This Irvine, CA-based homebuilder designs, constructs, and sells single-family detached and attached homes in the United States. Robust demand and pricing as well as improved operating leverage have been driving TRI Pointe's performance. Cost-cutting initiatives implemented earlier this year and focus on entry-level buyers have been adding to the positives.
TRI Pointe’s shares have surged 56% in the past year. Earnings for 2021 and 2022 are expected to rise 80.2% and 9.6%, respectively.
Meritage Homes Corporation (MTH - Free Report) currently sports a Zacks Rank #1. Based in Scottsdale, AZ, Meritage Homes is one of the leading designers and builders of single-family homes. Its focus on entry-level LiVE.NOW homes has been a major driving factor.
MTH has gained 35.5% in the past year. Earnings are expected to increase 74.4% in 2021 and 22.2% in the next year.
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AECOM (ACM) Wins Hamad International Airport Expansion Deal
AECOM (ACM - Free Report) has received a six-year program management services contract from the Qatar Company for Airports Operation and Management to support its Cargo Terminal 2 and Amiri Flight Facilities, part of the Hamad International Airport Expansion Program.
Per the contract, AECOM will provide project and construction management services for cargo terminal and ancillary supporting buildings including a veterinary inspection center, central utility plant, and infrastructure diversions. Going forward, a cargo bridging facility will be created to accommodate predicted overflow from Cargo Terminal 1. The cargo bridging facility will be prioritized for operational readiness before the start of the FIFA World Cup Qatar in November 2022.
AECOM’s chief executive for the Middle East & Africa, Hamed Zaghw, said, “We are fully committed to helping achieve the goals of the Hamad International Airport Expansion Project, which will prepare it for future growth and triple the airport’s overall cargo capacity. The project will enhance the delivery and processing of supplies and important cargo to Qatar, helping to meet the demands of its growing economy while significantly enhancing its global freight operations.”
Solid Project Execution Aids AECOM
AECOM is a leading solutions provider for supporting professional, technical, and management solutions for diverse industries across end markets like transportation, facilities, government as well as environmental, energy, and water businesses. Currently, this leading professional, technical and management solution provider has been witnessing a robust pipeline of pursuits across the business.
AECOM has been benefiting from solid infrastructure spending in the United Kingdom, Canada, Hong Kong and Australia. Overall, backlog from the international segment (which includes businesses in Europe, the Middle East, Africa, and the Asia-Pacific regions) grew 10.2% year over year to $5.21 billion for fiscal 2021, reflecting market share gains and visibility into growth. Management remains confident of attaining its goal of achieving double-digit International margins by 2024.
The stock has rallied 54.4% over a year compared with the industry’s 34.9% growth. Earnings estimates for fiscal 2022 have moved up 3.1% in the past 30 days, depicting analysts' optimism over bottom-line growth potential. The Zacks Consensus Estimate for the Zacks Rank #3 (Hold) company’s fiscal 2022 earnings indicates a 17% increase from the 2021 level. AECOM currently has good visibility into growth and a strong backlog for the upcoming quarters.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some Better-Ranked Stocks in the Construction Sector
Beazer Homes USA, Inc. (BZH - Free Report) currently sports a Zacks Rank #1. This Atlanta-based homebuilder continues to gain from strong operational execution and persistent strength in the housing market.
Beazer Homes’ shares have gained 44.1% in the past year compared with the industry’s 33.4% rally. Earnings are expected to rise 23.7% in fiscal 2022.
TRI Pointe Group Inc. (TPH - Free Report) currently sports a Zacks Rank #1. This Irvine, CA-based homebuilder designs, constructs, and sells single-family detached and attached homes in the United States. Robust demand and pricing as well as improved operating leverage have been driving TRI Pointe's performance. Cost-cutting initiatives implemented earlier this year and focus on entry-level buyers have been adding to the positives.
TRI Pointe’s shares have surged 56% in the past year. Earnings for 2021 and 2022 are expected to rise 80.2% and 9.6%, respectively.
Meritage Homes Corporation (MTH - Free Report) currently sports a Zacks Rank #1. Based in Scottsdale, AZ, Meritage Homes is one of the leading designers and builders of single-family homes. Its focus on entry-level LiVE.NOW homes has been a major driving factor.
MTH has gained 35.5% in the past year. Earnings are expected to increase 74.4% in 2021 and 22.2% in the next year.