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About Aecom

AECOM is one of the world's top engineering and design groups. The company provides planning, consulting, architectural, and engineering design services for civil and infrastructure construction to public and private clients in more than 150 countries. The company also offers other services including logistics and consulting in a range of end markets that include energy and environmental construction. Some of AECOM’s major projects include the USTA Billie Jean King National Tennis Center, Taizhou Bridge in China, Crossrail London (the largest construction in Europe), and New York City's Second Avenue Subway. AECOM generates more than a quarter of its sales outside the US.

Operations

AECOM operates through four business segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital.
DCS generates about 40% of the company's total revenue and consists of planning, consulting, architectural, and engineering design services. CS includes construction for buildings, energy infrastructure, and industrial facilities and accounts for around 40% of sales. MS, at about 20% of revenue, includes AECOM's facilities management and maintenance, training, logistics, consulting, technical assistance, and systems integration and IT services.
The company invests in real estate, infrastructure projects, and public/private partnerships through AECOM Capital.

Geographic Reach

Based in Los Angeles, AECOM serves clients in more than 150 countries. The company generates more than 70% of its revenue from the US, about 10% from Europe, and less than 20% from the Asia-Pacific region, Canada, and other areas.

It has primary office locations in the US, as well as in Australia, Hong Kong, Russia, the United Arab Emirates, and the UK.

Sales and Marketing

AECOM serves several sectors, such as transportation, facilities, environmental, energy, water, and government.

AECOM's revenue is split about evenly between private sector clients and government entities. Roughly 45% of its revenue derived from governments is from direct contracts with US federal government agencies (Departments of Defense, Energy, Justice, and Homeland Security); the remainder comes from state and local governments as well as foreign governments.

Financial Performance

After a breakout year in fiscal 2015, which saw revenue more than double due to its acquisition of URS, AECOM reported a small drop in revenue in 2016 but rebounded in 2017 and 2018 on strong performance from its three main segments, particularly Construction Services. The company’s net income fell 40% between 2014 and 2018 due to massive losses in 2014 and 2015 partially offset by gains of more than 250% in 2017 when its acquisition and integration expenses dropped significantly.

AECOM added 11% to its revenue in 2018 compared with 2017. The company saw sales in its Design and Consulting Services (DCS), Construction Services (CS), and Management Services (MS) segments increase by 8.7%, 12.9%, and 10.6%, respectively. Residential housing storm disaster relief in the Americas and increases in the Asia-Pacific and Europe, Middle East, and Africa (EMEA) regions drove up DCS income. Gains in its CS segment owed to construction of residential high-rise buildings in New York City and the inclusion of revenue from acquisitions in 2018 and 4Q17. US government projects -- including US Army projects in the Middle East and US Air Force contracts -- bolstered MS revenue.

The company’s net income fell 60% to $136.5 million in 2018 due mostly to an impairment of assets held for sale, including goodwill, related to the anticipated selloff of the company’s non-core oil and gas businesses (which AECOM announced in Q2 of 2018).

AECOM added $84.4 million to its cash stores in 2018. Operations provided $774.6 million; Investments used $59 million, and financings used $624.9 million. Investment spend decreased compared to the previous year thanks to the company abstaining from acquisitions and greater return on investment from unconsolidated joint ventures. Financing activity increased due to common stock repurchases, net distributions to noncontrolling interests, and net debt repayments.

Strategy

AECOM believes that its diversification is key to growth. It has cultivated diversified end markets, funding (50:50 private:public), and capabilities during its transition from solely engineering design to construction and then ultimately operations and maintenance.

Infrastructure is a major target for the company, which is boosting its expertise in that area through internal investment (including the creation of a federal contracting division) and acquisitions (including the 2017 purchase of Shimmick). In January 2019 the company released its second annual report on the future of infrastructure, which surveyed more than 10,000 residents of 10 major global cities on their infrastructure concerns. In addition, in mid-2017 the company announced plans to hire some 3,000 workers to support its infrastructure operations in the US and the rest of the North America.

The company is already a leader in "mega projects" worth more than $1 billion; current projects that fit that description include West Gate Tunnel in Melbourne, Australia and the San Roque Multipurpose Dam in Luzon, Philippines.

Although AECOM's acquisition spending in its last three fiscal years has been miniscule compared to the billions it paid for USR in late 2014, growth by acquisition remains a large part of the company's strategy as it works to cement its leadership position in existing markets and enter new ones.

Mergers and Acquisitions

In 2017 AECOM agreed to pay $175 million to acquire heavy civil construction company Shimmick, which operates primarily in California and the western US. The purchase complements AECOM's North American offerings and better positions it to take advantage of upcoming infrastructure projects, particularly in the western US.

Company Background

AECOM formed in 1990 through the merger of five subsidiaries of Ashland Inc. Since then, more than 50 companies have joined AECOM. The company completed its initial public offering in 2007.

Aecom

1999 Avenue of The Stars STE 2600
Los Angeles, CA 90067-6033
Phone: 1 (213) 593-8000

Stats

Employer Type: Publicly Owned
Stock Symbol: ACM
Stock Exchange: , NYSE
Chairman and CEO: Michael S. Burke
Vice Chairman: Daniel R. Tishman
COO: Randall A. Wotring
Employees (This Location): 148
Employees (All Locations): 87,000

Major Office Locations

Los Angeles, CA

Other Locations

Anchorage, AK
Fairbanks, AK
Homer, AK
Anniston, AL
Birmingham, AL
Daleville, AL
Fort Rucker, AL
Huntsville, AL
Mobile, AL
Montgomery, AL
Little Rock, AR
Phoenix, AZ
Prescott Valley, AZ
Tempe, AZ
Tucson, AZ
Anaheim, CA
Bakersfield, CA
Camarillo, CA
Chico, CA
Concord, CA
Encino, CA
Fresno, CA
Goleta, CA
Hayward, CA
Herlong, CA
Hermosa Beach, CA
Irvine, CA
La Jolla, CA
Lancaster, CA
Long Beach, CA
Los Angeles, CA
Oakland, CA
Ontario, CA
Orange, CA
Riverside, CA
Sacramento, CA
San Diego, CA
San Francisco, CA
San Jose, CA
Santa Barbara, CA
Santa Fe Springs, CA
Santa Maria, CA
Tustin, CA
Colorado Springs, CO
Denver, CO
Durango, CO
Erie, CO
Fort Collins, CO
Frederick, CO
Greenwood Village, CO
Rangely, CO
Groton, CT
New London, CT
Newtown, CT
Rocky Hill, CT
Washington, DC
Millsboro, DE
Newark, DE
Wilmington, DE
Bartow, FL
Boca Raton, FL
Coral Gables, FL
Deland, FL
Doral, FL
Fort Myers, FL
Hollywood, FL
Jacksonville, FL
Kennedy Space Center, FL
Lake Buena Vista, FL
Leesburg, FL
Miami, FL
Miami Gardens, FL
Milton, FL
Miramar, FL
Naples, FL
New Smyrna Beach, FL
Orlando, FL
Panama City, FL
Panama City Beach, FL
Santa Rosa Beach, FL
Sarasota, FL
Tallahassee, FL
Tampa, FL
Wauchula, FL
West Palm Beach, FL
Albany, GA
Atlanta, GA
Savannah, GA
Hilo, HI
Honolulu, HI
Schofield Barracks, HI
Wailuku, HI
Des Moines, IA
Meridian, ID
Soda Springs, ID
Chicago, IL
Decatur, IL
Hartford, IL
Peoria, IL
Rock Island, IL
Warrenville, IL
Bedford, IN
Bloomington, IN
Indianapolis, IN
Odon, IN
Edmonton, KY
Louisville, KY
Oak Grove, KY
West Paducah, KY
Baton Rouge, LA
Lake Charles, LA
New Orleans, LA
Shreveport, LA
Boston, MA
Cambridge, MA
Charlestown, MA
Harvard, MA
Lynn, MA
Pittsfield, MA
Pocasset, MA
Waltham, MA
Westford, MA
Woburn, MA
Aber Prov Grd, MD
Annapolis, MD
Annapolis Junction, MD
Baltimore, MD
Bethesda, MD
Germantown, MD
Hunt Valley, MD
Ijamsville, MD
Lexington Park, MD
Portland, ME
South Portland, ME
Ann Arbor, MI
Bay City, MI
Detroit, MI
Flint, MI
Grand Rapids, MI
Grosse Ile, MI
Kalamazoo, MI
Livonia, MI
Marquette, MI
Menominee, MI
Midland, MI
Mio, MI
Paw Paw, MI
Rockwood, MI
Southfield, MI
Traverse City, MI
Duluth, MN
Minneapolis, MN
Kansas City, MO
Saint Louis, MO
Springfield, MO
Wildwood, MO
Hattiesburg, MS
Jackson, MS
Billings, MT
Helena, MT
Charlotte, NC
Elizabeth City, NC
Morrisville, NC
Raleigh, NC
West End, NC
Wilmington, NC
Bismarck, ND
Williston, ND
Omaha, NE
Manchester, NH
Atlantic City, NJ
Burlington, NJ
Clifton, NJ
Cranford, NJ
Lakehurst, NJ
Maple Shade, NJ
Piscataway, NJ
Totowa, NJ
Albuquerque, NM
Farmington, NM
Los Alamos, NM
Las Vegas, NV
Amherst, NY
Buffalo, NY
Chestnut Ridge, NY
Fort Edward, NY
Halfmoon, NY
Howard Beach, NY
New York, NY
Syracuse, NY
Akron, OH
Batavia, OH
Cincinnati, OH
Cleveland, OH
Columbus, OH
Dayton, OH
Delta, OH
Dublin, OH
Franklin, OH
Gahanna, OH
Toledo, OH
Ratliff City, OK
Albany, OR
Bend, OR
Portland, OR
Blue Bell, PA
Conshohocken, PA
Erie, PA
Mechanicsburg, PA
Philadelphia, PA
Pittsburgh, PA
Williamsport, PA
Newport, RI
Providence, RI
Aiken, SC
Columbia, SC
Florence, SC
Fort Mill, SC
Greenville, SC
North Charleston, SC
Rapid City, SD
Chattanooga, TN
Clarksville, TN
Franklin, TN
Oak Ridge, TN
Arlington, TX
Austin, TX
Corpus Christi, TX
Dallas, TX
Fairfield, TX
Fort Worth, TX
Freeport, TX
George West, TX
Haslet, TX
Houston, TX
Mission, TX
New Boston, TX
Odessa, TX
Pleasanton, TX
San Antonio, TX
Texarkana, TX
Waller, TX
Hill Air Force Base, UT
Murray, UT
Salt Lake City, UT
Vernal, UT
Alexandria, VA
Arlington, VA
Chantilly, VA
Dahlgren, VA
Dulles, VA
Fort Belvoir, VA
Glen Allen, VA
Herndon, VA
Lynchburg, VA
Manassas, VA
Norfolk, VA
Richmond, VA
Roanoke, VA
Springfield, VA
Valentines, VA
Virginia Beach, VA
Bellingham, WA
Graham, WA
Kent, WA
Kingston, WA
Seattle, WA
Spokane, WA
Green Bay, WI
Middleton, WI
Milwaukee, WI
Oshkosh, WI
Sheboygan, WI
Stevens Point, WI
Bridgeport, WV
Charleston, WV
Harpers Ferry, WV
Kenova, WV
Morgantown, WV
Casper, WY
Gillette, WY
Alida, Canada
Barrie, Canada
Bonnyville, Canada
Bracebridge, Canada
Brooks, Canada
Burnaby, Canada
Calgary, Canada
Carlyle, Canada
Chicoutimi, Canada
Châteauguay, Canada
Clairmont, Canada
Cobalt, Canada
Cobourg, Canada
Cold Lake, Canada
Coquitlam, Canada
Côte Saint-Luc, Canada
Dawson Creek, Canada
Devon, Canada
Edmonton, Canada
Edson, Canada
Emerald Park, Canada
Etobicoke, Canada
Fairview, Canada
Fort Mcmurray, Canada
Fort St. John, Canada
Gatineau, Canada
Gloucester, Canada
Grande Prairie, Canada
Guelph, Canada
Halbrite, Canada
Halifax, Canada
Hamilton, Canada
Hinton, Canada
Kelowna, Canada
Kingston, Canada
Kitchener, Canada
Kitimat, Canada
Lethbridge, Canada
Lloydminster, Canada
London, Canada
Longueuil, Canada
Lévis, Canada
Macklin, Canada
Markham, Canada
Medicine Hat, Canada
Mississauga, Canada
Montréal, Canada
Newmarket, Canada
Nisku, Canada
North Bay, Canada
North York, Canada
Oakville, Canada
Olds, Canada
Ottawa, Canada
Peace River, Canada
Québec, Canada
Rainbow Lake, Canada
Redcliff, Canada
Red Deer, Canada
Regina, Canada
Rivière-Du-Loup, Canada
Rouyn-Noranda, Canada
Saint-Jérôme, Canada
Saskatoon, Canada
Sault Ste. Marie, Canada
Shaunavon, Canada
Sherwood Park, Canada
Sparwood, Canada
St Catharines, Canada
Sudbury, Canada
Swift Current, Canada
Sydney, Canada
Thornhill, Canada
Trois-Rivières, Canada
Vancouver, Canada
Victoria, Canada
Virden, Canada
Wainwright, Canada
Whitby, Canada
White City, Canada
Whitecourt, Canada
Whitehorse, Canada
Windsor, Canada
Winnipeg, Canada
Yellowknife, Canada
Aix En Provence, France
Lyon, France
Obernai, France
Pessac, France
Wasquehal, France
Moscow, Russia
Sergiev Posad, Russia
Altrincham, England
Birmingham, England
Bradford, England
Bristol, England
Croydon, England
Exeter, England
Leeds, England
Liverpool, England
Newcastle-Upon-Tyne, England
Norwich, England
Peterborough, England
Neu-Isenburg, Germany
Edinburgh, Scotland
Glasgow, Scotland
Auckland, New Zealand
Belfast, Northern Ireland