EarningsQ3 2026 Earnings Report
MX:ACM Q3 2026 EPS Results
Actual EPS-$9.08
Consensus EPS$26.57
Beat/MissMissed by -$35.65
One Year Ago EPS$24.34
MX:ACM Q3 2026 Revenue Results
Actual Revenue$65.13B
Expected Revenue$36.57B
Beat/MissBeat by +$28.56B
YoY Revenue Growth-14.18%
Earnings Announcement Details
QuarterQ3 2026
Date08/10/2026
TimeAfter Close
Conference CallMonday, August 10, 2026
MX:ACM Upcoming Earnings
Aecom's next earnings date is estimated for November 23, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:ACM Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presents meaningful operational and commercial strengths — record backlog, strong book-to-burn, broad geographic and market wins, improving international margins and maintained free cash flow guidance — but these positives are materially offset in the near term by a significant $337 million pretax construction management charge, related cash burn (~$500M through early FY'27), higher interest expense, and outstanding claims tied to two legacy P3 design-build projects. Management emphasizes that the problematic projects would not pass current risk controls, expects recoveries over time, and remains confident in the long-term 5%–8% organic growth algorithm and margin roadmap, creating a mixed near-term / constructive long-term outlook.Company Guidance
Record Backlog and Strong Win Activity
Backlog increased 13% to an all-time high driven by record quarterly wins; book-to-burn was 1.6x for the quarter (1.8x in the Americas) and 1.4x year-to-date, providing multiyear visibility.
Design Revenue Growth
Adjusted for one fewer working day, net service revenue (NSR) in design rose ~5% overall, led by Americas design up 6% and International design returning to growth (+4%), including high-single-digit growth in the U.K. and double-digit growth in Australia.
International Momentum and Margin Expansion
International NSR increased 4%; International adjusted operating margin improved to 14.3%, aided by Australia (double-digit revenue growth and backlog +40% YoY) and improved U.K. utilization.
Record Large Wins and Program Awards
Won two of the largest recompetes ever in the environment business, a large rail project in Saudi Arabia (post-quarter), and a 10-year program management award in Canada; U.S. federal and data center pipelines expanded (U.S. defense pipeline +~30%, Canada water pipeline +30%).
Improved Adjusted EBITDA and EPS (Excluding Charge)
Excluding the construction management project charge, adjusted EBITDA and adjusted EPS improved year-over-year by ~5% and ~11%, respectively, reflecting underlying profitability gains.
Raised Adjusted EBITDA Margin Guidance
Company raised full-year adjusted EBITDA margin expectation to 17.4% (from previously 17.0%) and reiterated longer-term target of exiting FY'28 at ~20%+.
Positive Free Cash Flow Despite Headwinds
Delivered positive free cash flow of $55 million in the quarter despite project-related headwinds and maintained full-year free cash flow guidance of $300 million for FY'26.
Balance Sheet Strength and Liquidity
Ended the quarter with $2.0 billion of undrawn borrowing capacity and no near-term maturities, providing financial flexibility while addressing project cash needs.
MX:ACM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed