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AECOM release 4Q and full year results for 2018

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World Fertilizer,

AECOM, a fully integrated global infrastructure firm in the chemical industry, has reported 4Q18 revenue of US$5.3 billion and full year revenue of US$20.2 billion.

Net income was US$84 million and diluted earnings were US$0.52/share in the 4Q18. Net income was US$136 million and diluted earnings were US$0.84/share for the full year. On an adjusted basis, diluted earnings per share was US$0.83 for the 4Q18 and US$2.68 for the full year.

Financial performance and outlook

  • Organic revenue increased by 9% in the 4Q18 and by 8% in the full year, resulting in record full year revenue of US$20.2 billion.
  • Total backlog increased by 14% year-over-year to a new all-time high of US$54.1 billion.
  • Wins for the year increased by 23% to a record US$28.4 billion, including wins of over US$6 billion in all four quarters, and momentum has continued in the 1Q18 with more than US$7 billion of large MS and CS wins in October.
  • Fourth quarter free cash flow of US$511 million was a quarterly record, which drove full year free cash flow of US$688 million and resulted in a fourth consecutive year of free cash flow over US$600 million.
  • Total debt declined by US$256 million in the fourth quarter, and the company executed a US$150 million accelerated share repurchase (ASR) that reduced total shares outstanding by 3%.
  • Fiscal 2019 adjusted EBITDA guidance of US$920 – $960 million reflects 12% growth at the mid-point as compared to fiscal 2018.

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