AECOM - First Quarter 2024 Highlights
AECOM, a global firm ranked #2 in the ENR 2023 Top 500 Design Firms, reported the company’s revenue growth, with a notable increase in the Americas and overall design business. It emphasizes the expansion of project activity, particularly in water, transportation, and program management, supported by IIJA funding. The backlog and pipeline have reached all-time highs, indicating future solid potential. Client diversification maintains a healthy balance between the public and private sectors. Growth is notably driven by investments in sustainability, resilience, and energy transition, with significant IT and management consulting opportunities and grid modernization due to electrification and renewable energy efforts.
Revenue:
Increased by 15% compared to the same period last year.
In the Americas, revenue grew by 18% compared to last year.
Revenue Sources:
Project activity in the Americas' design services increased by 9%.
Experienced growth in water, transportation, and program management sectors.
Acceleration in IIJA funding.
Backlog:
The design business's backlog is at a record level, and the contracted backlog has grown 23%.
Pipeline:
The pipeline is at a record level, particularly in renewable energy, where the pipeline is nearly $1 billion.
Client Diversification:
Distribution between 60% public and 40% private clients.
Growth Markets:
Rapid expansion in investments towards sustainability, resilience, and energy transition, with annual spending on the energy transition expected to reach $1 trillion by 2030.
The IT and management consulting services market presents a significant growth opportunity.
Grid modernization investments are on the rise, with the AECOM pipeline expanding to nearly $1 billion, driven by the need for additional capacity for electrification and renewable energy generation.
