Aecom sees FY24 EPS $4.35-$4.55, consensus $4.32

Building on the successes of fiscal 2023, AECOM expects to deliver another year of strong organic NSR2 growth, record segment adjusted1 operating margins, and double-digit adjusted1 earnings per share growth, including: Organic NSR growth of approximately 8% to 10%. A segment adjusted operating margin of approximately 15.6%, a 90 basis point increase from fiscal 2023, which includes: Approximately two-thirds of the margin expansion from high-returning organic growth, which alone puts the Company ahead of its 15% target for fiscal 2024. Approximately one-third of the margin expansion from the acceleration of the Company’s continuous improvement initiatives, primarily related to real estate efficiencies. Adjusted1 EBITDA of between $1,065 million and $1,105 million, representing a 13% increase at the mid-point over fiscal 2023. Adjusted EPS of between $4.35 and $4.55, reflecting a 20% increase at the mid-point over fiscal 2023.