AECOM selected as partner for Sydney Water revam

DALLAS - AECOM (NYSE: ACM), a prominent player in the Construction & Engineering industry with a market capitalization of $11.59 billion, has been chosen to partner with Sydney Water, Australia's largest water utility, to undertake a significant capital investment program aimed at revitalizing the city's water infrastructure. The initiative is set to support Sydney's rapid population growth, enhance climate resilience, and renew aging infrastructure to ensure a sustainable and reliable water future. According to InvestingPro data, AECOM maintains a solid financial health score, positioning it well for major infrastructure projects.

The program, which aligns with the New South Wales Government's vision for Greater Sydney, will address the impacts of rapid population growth, aging assets, and environmental pressures while supporting economic development and community well-being. With annual revenue reaching $16.2 billion and a P/E ratio of 19.98, AECOM demonstrates the financial capacity to handle large-scale infrastructure projects. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro.

AECOM will function as a Design Development Partner, providing high-quality engineering design services to develop preferred options and concept designs. The company will also work to de-risk projects in terms of cost and time across various projects and asset classes, including pipes, pumps, reservoirs, treatment plants, and facilities.

Beverley Stinson, chief executive of AECOM's global Water business, expressed pride in the partnership, stating that AECOM looks forward to applying its expertise from complex water programs worldwide to support Sydney's water supply. Mark McManamny, chief executive of AECOM's Australia and New Zealand region, highlighted the shared commitment to sustainable solutions with Sydney Water.

Sydney Water delivers safe, high-quality drinking water to over 5.3 million customers daily across Greater Sydney, including the Blue Mountains and the Illawarra. AECOM has a history of collaboration with Sydney Water on significant water projects, such as the original design and current expansion of the Sydney Desalination Plant, upgrades for the Rouse Hill water recycling plant, and the Western Sydney Regional Master Plan.

AECOM is recognized as a Fortune 500 firm with a revenue of $16.1 billion in fiscal year 2024. The company specializes in solving complex challenges in water, environment, energy, transportation, and buildings for public- and private-sector clients.

This article is based on a press release statement.

In other recent news, AECOM reported impressive first-quarter results, surpassing analyst expectations with an adjusted earnings per share of $1.31 compared to the estimated $1.11. The company's revenue also exceeded forecasts, coming in at $4.01 billion, well above the anticipated $1.79 billion. Following these results, AECOM raised its fiscal year 2025 guidance, projecting adjusted EPS in the range of $5.05 to $5.20, with adjusted EBITDA expected to grow by 9% at the midpoint. RBC Capital Markets responded to this strong performance by increasing AECOM's stock price target to $125 and maintaining an Outperform rating.

Additionally, AECOM has been awarded a significant contract in Hong Kong as part of a joint venture for the Northern Metropolis development, which will involve a range of services aimed at creating a community-focused innovation hub. In corporate governance updates, AECOM's shareholders have re-elected their Board of Directors and ratified Ernst & Young LLP as the independent accounting firm. The stockholders also approved an amendment to the company's Certificate of Incorporation. These developments reflect AECOM's strategic growth and operational stability, positioning the company for continued success in the infrastructure sector.

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