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Highlights:
- AECOM’s full-year 2024 revenue rose 12% to $16.1 billion, with net income up 343% to $506 million.
- Record free cash flow of $708 million, up 20% year-over-year.
- The company increased its quarterly dividend by 18% and raised its share repurchase authorization to $1 billion.
AECOM (NYSE:ACM), a global infrastructure and environmental services firm, has announced impressive results for the fourth quarter and full-year fiscal 2024, exceeding its previously increased guidance. The company reported Q4 revenue of $4.1 billion, marking a 7% year-over-year increase, while net income surged an extraordinary 396% to $168 million. For the full fiscal year, AECOM’s revenue reached $16.1 billion, a 12% increase compared to the previous year, and net income climbed by 343% to $506 million.
These results were driven by strong demand across AECOM’s key markets, improved operational efficiency, and a focus on higher-margin projects. The company also achieved record margins, with an adjusted EBITDA margin of 16.7% in Q4 and 16.0% for the full year—reflecting the continued execution of its strategic initiatives.
AECOM’s backlog reached an all-time high, increasing by 3% year-over-year, driven by robust demand for its services in infrastructure, environmental, and transportation sectors. Notably, design backlog grew 5%, demonstrating a solid pipeline of upcoming projects that will support continued growth.
The company also posted a record $708 million in free cash flow for the year, a 20% increase compared to fiscal 2023. This solid cash flow performance highlights AECOM’s ability to convert strong earnings into cash, enhancing financial flexibility and supporting future growth investments.
Looking ahead, AECOM is projecting organic net service revenue (NSR) growth of 5-8% for fiscal 2025 and expects adjusted earnings per share (EPS) to range between $5.00 and $5.20. The company’s strong performance and positive outlook reflect its strategic positioning in key markets, including transportation, water, and environmental services, all of which are expected to see continued demand due to infrastructure needs.
In addition to reporting strong financial results, AECOM announced a series of shareholder-friendly initiatives. The company increased its quarterly dividend by 18%, demonstrating confidence in its financial strength and commitment to returning capital to shareholders. Moreover, AECOM raised its share repurchase authorization to $1 billion, giving the company the flexibility to buy back shares as part of its broader capital allocation strategy.
This combination of dividend growth and share repurchases is designed to enhance shareholder value and reflect AECOM’s continued financial strength and operational success. The company’s leadership in capital discipline further underpins its ability to deliver strong returns to investors while maintaining a focus on long-term growth.
AECOM’s Q4 and full-year fiscal 2024 results reflect a remarkable turnaround and exceptional operational performance, as the company benefits from favorable market conditions and disciplined execution of its strategic initiatives. The strong growth in revenue, net income, and free cash flow, combined with record backlog levels, positions AECOM well for continued success in fiscal 2025 and beyond.
