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AECOM (ACM) Wins Contract for Ukraine Hydropower Restoration
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AECOM (ACM - Free Report) has announced a partnership with Ukrhydroenergo, Ukraine’s primary hydropower generating company, to support the restoration and enhancement of the nation’s hydropower infrastructure. This collaboration, finalized during the 2024 Ukraine Recovery Conference in Berlin, underscores AECOM’s pivotal role in Ukraine’s ongoing recovery efforts.
Shares of ACM gained 0.3% during the trading session on Jun 11, 2024.
Hydropower is crucial for Ukraine’s energy stability, and AECOM’s extensive expertise in this renewable energy sector positions the firm as a key player in ensuring a resilient electricity supply to millions. AECOM's teams will leverage their proficiency in energy advisory and disaster recovery to help Ukrhydroenergo meet its complex hydropower goals.
With decades of experience in hydropower and dam projects, AECOM has contributed to the realization of more than 140,000 megawatts (MW) of hydropower generation worldwide. Notable projects include the 1550 MW La Romaine hydroelectric complex in Quebec, Canada, and the ongoing modernization of the Robert Moses Power Plant in New York. AECOM is also involved in the 680 MW Amfilochia Pumped Storage Hydro project in Greece.
This partnership expands on AECOM’s current role as the infrastructure delivery advisor to Ukraine’s Ministry for Communities, Territories and Infrastructure Development and as the reconstruction partner for Kyiv Boryspil International Airport. Since 2023, AECOM has provided vital program and technical advisory support for Ukraine’s recovery, utilizing its extensive experience from reconstruction projects in Iraq, Afghanistan, Haiti, Japan, Indonesia, and the Caribbean.
By aligning with Ukrhydroenergo, AECOM reaffirms its commitment to helping Ukraine rebuild and strengthen its energy infrastructure, thereby enhancing the country's overall energy security and resilience.
Contract Wins & Solid Backlog Level: A Boon
Owing to the improving global scenario, which is fostering infrastructural demand around the globe, there has been an increase in demand for ACM’s services. This improving trend is reflected in the company’s backlog levels.
As of the fiscal second-quarter end, the total backlog was $23.74 billion compared with $22.98 billion reported in the prior-year period. The current backlog level includes 54.8% contracted backlog growth. The design business backlog grew 6.3% to $22.29 billion. The metric was driven by a near-record win rate and continued strong end-market trends.
The company’s net service revenues or NSR — defined as revenues excluding subcontractor and other direct costs — have been benefiting from strength across core transportation, water and environment markets. NSR for the fiscal second quarter rose 8% year over year, marking the 13th consecutive quarter of accelerating organic growth.
Image Source: Zacks Investment Research
Shares of AECOM have gained 0.9% in the past year compared with the Zacks Engineering - R and D Services industry’s growth of 38.5%. Although shares of the company have underperformed the industry in the past year, the ongoing contract wins are likely to boost its prospects in the forthcoming quarters. Also, increasing infrastructural spending trends across the world are encouraging for ACM.
Zacks Rank & Key Picks
ACM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Construction sector are:
Howmet Aerospace Inc. (HWM - Free Report) presently carries a Zacks Rank #1 (Strong Buy). HWM has a trailing four-quarter earnings surprise of 8.5%, on average. Shares of HWM have gained 80.8% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for HWM’s 2024 sales and earnings per share (EPS) indicates a rise of 10.6% and 29.9%, respectively, from prior-year levels.
M-tron Industries, Inc. (MPTI - Free Report) currently carries a Zacks Rank #2 (Buy). It has topped earnings estimates in three of the trailing four quarters and missed once, with an average surprise of 26.7%. Shares of MPTI have gained 217.5% in the past year.
The Zacks Consensus Estimate for MPTI’s 2024 sales and EPS indicates a rise of 8.8% and 58.6%, respectively, from prior-year levels.
Gates Industrial Corporation plc (GTES - Free Report) presently carries a Zacks Rank #2. GTES has a trailing four-quarter earnings surprise of 14.9%, on average. Shares of GTES have gained 26.2% in the past year.
The Zacks Consensus Estimate for GTES’ 2024 sales indicates a 0.2% decline but EPS growth of 2.9% from the prior-year levels.
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AECOM (ACM) Wins Contract for Ukraine Hydropower Restoration
AECOM (ACM - Free Report) has announced a partnership with Ukrhydroenergo, Ukraine’s primary hydropower generating company, to support the restoration and enhancement of the nation’s hydropower infrastructure. This collaboration, finalized during the 2024 Ukraine Recovery Conference in Berlin, underscores AECOM’s pivotal role in Ukraine’s ongoing recovery efforts.
Shares of ACM gained 0.3% during the trading session on Jun 11, 2024.
Hydropower is crucial for Ukraine’s energy stability, and AECOM’s extensive expertise in this renewable energy sector positions the firm as a key player in ensuring a resilient electricity supply to millions. AECOM's teams will leverage their proficiency in energy advisory and disaster recovery to help Ukrhydroenergo meet its complex hydropower goals.
With decades of experience in hydropower and dam projects, AECOM has contributed to the realization of more than 140,000 megawatts (MW) of hydropower generation worldwide. Notable projects include the 1550 MW La Romaine hydroelectric complex in Quebec, Canada, and the ongoing modernization of the Robert Moses Power Plant in New York. AECOM is also involved in the 680 MW Amfilochia Pumped Storage Hydro project in Greece.
This partnership expands on AECOM’s current role as the infrastructure delivery advisor to Ukraine’s Ministry for Communities, Territories and Infrastructure Development and as the reconstruction partner for Kyiv Boryspil International Airport. Since 2023, AECOM has provided vital program and technical advisory support for Ukraine’s recovery, utilizing its extensive experience from reconstruction projects in Iraq, Afghanistan, Haiti, Japan, Indonesia, and the Caribbean.
By aligning with Ukrhydroenergo, AECOM reaffirms its commitment to helping Ukraine rebuild and strengthen its energy infrastructure, thereby enhancing the country's overall energy security and resilience.
Contract Wins & Solid Backlog Level: A Boon
Owing to the improving global scenario, which is fostering infrastructural demand around the globe, there has been an increase in demand for ACM’s services. This improving trend is reflected in the company’s backlog levels.
As of the fiscal second-quarter end, the total backlog was $23.74 billion compared with $22.98 billion reported in the prior-year period. The current backlog level includes 54.8% contracted backlog growth. The design business backlog grew 6.3% to $22.29 billion. The metric was driven by a near-record win rate and continued strong end-market trends.
The company’s net service revenues or NSR — defined as revenues excluding subcontractor and other direct costs — have been benefiting from strength across core transportation, water and environment markets. NSR for the fiscal second quarter rose 8% year over year, marking the 13th consecutive quarter of accelerating organic growth.
Image Source: Zacks Investment Research
Shares of AECOM have gained 0.9% in the past year compared with the Zacks Engineering - R and D Services industry’s growth of 38.5%. Although shares of the company have underperformed the industry in the past year, the ongoing contract wins are likely to boost its prospects in the forthcoming quarters. Also, increasing infrastructural spending trends across the world are encouraging for ACM.
Zacks Rank & Key Picks
ACM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Construction sector are:
Howmet Aerospace Inc. (HWM - Free Report) presently carries a Zacks Rank #1 (Strong Buy). HWM has a trailing four-quarter earnings surprise of 8.5%, on average. Shares of HWM have gained 80.8% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for HWM’s 2024 sales and earnings per share (EPS) indicates a rise of 10.6% and 29.9%, respectively, from prior-year levels.
M-tron Industries, Inc. (MPTI - Free Report) currently carries a Zacks Rank #2 (Buy). It has topped earnings estimates in three of the trailing four quarters and missed once, with an average surprise of 26.7%. Shares of MPTI have gained 217.5% in the past year.
The Zacks Consensus Estimate for MPTI’s 2024 sales and EPS indicates a rise of 8.8% and 58.6%, respectively, from prior-year levels.
Gates Industrial Corporation plc (GTES - Free Report) presently carries a Zacks Rank #2. GTES has a trailing four-quarter earnings surprise of 14.9%, on average. Shares of GTES have gained 26.2% in the past year.
The Zacks Consensus Estimate for GTES’ 2024 sales indicates a 0.2% decline but EPS growth of 2.9% from the prior-year levels.