Engineering Company AECOM Tops Q4 Earnings, Boost Shares Buyback & Dividend
Portfolio Pulse from Lekha Gupta
AECOM (NYSE:ACM) reported a 12% Y/Y revenue increase in Q4 FY23 to $3.84 billion, surpassing estimates. Adjusted EPS of $1.01 beat consensus, and the company raised its share buyback authorization to $1 billion and increased its quarterly dividend by 22%. AECOM's FY24 outlook anticipates adjusted EPS of $4.35-$4.55 and adjusted EBITDA of $1.065-$1.105 billion. Shares rose 1.65% in premarket trading.
November 14, 2023 | 12:54 pm
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AECOM reported strong Q4 earnings with revenue and adjusted EPS beating estimates, increased its dividend, and expanded its share buyback program. The company provided a positive FY24 outlook.
The positive earnings report, increased dividend, and expanded share buyback program are likely to be viewed favorably by investors, leading to a potential short-term increase in AECOM's stock price. The company's optimistic FY24 outlook further supports the potential for stock appreciation.
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