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AECOM's (ACM) JV Wins IDIQ Contract From NAVFAC Atlantic
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The joint venture between AECOM (ACM - Free Report) and EnSafe — Resolution Consultants — won a single-award, indefinite-delivery, indefinite-quantity (IDIQ) contract by the Naval Facilities Engineering Systems Command (NAVFAC) Atlantic.
Per the deal, the JV will provide environmental studies, investigations and designs for the Comprehensive Long-Term Environmental Action Navy (CLEAN) program to address pressing environmental challenges. The work, which has a $400 million ceiling, will address critical issues like per- and polyfluoroalkyl substances and other emerging contaminants, vapor intrusion, sediments, munitions and radiological assessment and hazardous substances. This will support compliance with environmental restoration programs such as the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) and the Resource Conservation and Recovery Act (RCRA).
Frank Sweet, chief executive of AECOM’s global Environment business, stated, "As we continue to advance our Sustainable Legacies strategy, we remain committed to executing projects using a framework of responsible practices that set new standards for technical excellence and help our clients tackle their toughest challenges. We’re proud to apply sound science, innovative restoration strategies, and a safety-first culture to assist our clients in achieving their environmental goals."
Shares of the company fell 0.35% on May 11.
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 and environmental, energy and water businesses. The major part of the U.S. government’s broad infrastructural plan is focused on transit and water markets, wherein AECOM enjoys a dominant position.
This leading professional, technical and management solution provider is witnessing a robust pipeline of pursuits across the business. It is benefiting from solid infrastructure spending in the U.K., Canada, Hong Kong and Australia.
Image Source: Zacks Investment Research
Among major industry bellwethers, AECOM appears to be highly attractive to investors. Shares of the company have outperformed the Zacks Engineering - R and D Services industry in the past year.
AECOM has been banking on strength across core transportation, water, and environment markets and a solid backlog. Furthermore, its focus on Environmental, Social and Governance or ESG-related services and digital initiatives are encouraging.
Fluor Corporation (FLR - Free Report) reported lower-than-expected first-quarter 2022 results, with earnings and revenues lagging the Zacks Consensus Estimate. Earnings missed the consensus mark after beating for the fourth straight quarter, whereas revenues missed the same for the seventh consecutive quarter.
That said, FLR’s adjusted earnings grew significantly due to higher margins.
Quanta Services Inc. (PWR - Free Report) reported impressive results in first-quarter 2022. Adjusted earnings and revenues surpassed the Zacks Consensus Estimate and increased impressively on a year-over-year basis.
Earnings beat the consensus mark in the trailing eight quarters, whereas revenues surpassed the same in five out of eight consecutive quarters.
KBR, Inc. (KBR - Free Report) reported mixed results for first-quarter 2022, with earnings topping the Zacks Consensus Estimate and revenues missing the same.
On a year-over-year basis, the metrics increased strongly. KBR benefited from a solid Government Solutions growth and strong execution across the business.
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AECOM's (ACM) JV Wins IDIQ Contract From NAVFAC Atlantic
The joint venture between AECOM (ACM - Free Report) and EnSafe — Resolution Consultants — won a single-award, indefinite-delivery, indefinite-quantity (IDIQ) contract by the Naval Facilities Engineering Systems Command (NAVFAC) Atlantic.
Per the deal, the JV will provide environmental studies, investigations and designs for the Comprehensive Long-Term Environmental Action Navy (CLEAN) program to address pressing environmental challenges. The work, which has a $400 million ceiling, will address critical issues like per- and polyfluoroalkyl substances and other emerging contaminants, vapor intrusion, sediments, munitions and radiological assessment and hazardous substances. This will support compliance with environmental restoration programs such as the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) and the Resource Conservation and Recovery Act (RCRA).
Frank Sweet, chief executive of AECOM’s global Environment business, stated, "As we continue to advance our Sustainable Legacies strategy, we remain committed to executing projects using a framework of responsible practices that set new standards for technical excellence and help our clients tackle their toughest challenges. We’re proud to apply sound science, innovative restoration strategies, and a safety-first culture to assist our clients in achieving their environmental goals."
Shares of the company fell 0.35% on May 11.
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 and environmental, energy and water businesses. The major part of the U.S. government’s broad infrastructural plan is focused on transit and water markets, wherein AECOM enjoys a dominant position.
This leading professional, technical and management solution provider is witnessing a robust pipeline of pursuits across the business. It is benefiting from solid infrastructure spending in the U.K., Canada, Hong Kong and Australia.
Image Source: Zacks Investment Research
Among major industry bellwethers, AECOM appears to be highly attractive to investors. Shares of the company have outperformed the Zacks Engineering - R and D Services industry in the past year.
AECOM has been banking on strength across core transportation, water, and environment markets and a solid backlog. Furthermore, its focus on Environmental, Social and Governance or ESG-related services and digital initiatives are encouraging.
Zacks Rank & Peer Releases
AECOM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fluor Corporation (FLR - Free Report) reported lower-than-expected first-quarter 2022 results, with earnings and revenues lagging the Zacks Consensus Estimate. Earnings missed the consensus mark after beating for the fourth straight quarter, whereas revenues missed the same for the seventh consecutive quarter.
That said, FLR’s adjusted earnings grew significantly due to higher margins.
Quanta Services Inc. (PWR - Free Report) reported impressive results in first-quarter 2022. Adjusted earnings and revenues surpassed the Zacks Consensus Estimate and increased impressively on a year-over-year basis.
Earnings beat the consensus mark in the trailing eight quarters, whereas revenues surpassed the same in five out of eight consecutive quarters.
KBR, Inc. (KBR - Free Report) reported mixed results for first-quarter 2022, with earnings topping the Zacks Consensus Estimate and revenues missing the same.
On a year-over-year basis, the metrics increased strongly. KBR benefited from a solid Government Solutions growth and strong execution across the business.