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AECOM (ACM) Secures Contract to Boost Water Infrastructure
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AECOM (ACM - Free Report) , the renowned infrastructure consulting firm, has announced its participation in a five-year contract with the U.S. Environmental Protection Agency (EPA) to support the protection and security of the nation's drinking water and wastewater infrastructure. The contract, a single-award indefinite delivery, indefinite quantity agreement, underscores AECOM's commitment toward sustainable environmental progress and resilience.
As part of a project team led by General Dynamics Information Technology (“GDIT”), AECOM will provide engineering subject matter expertise in technical, cyber, education and program management services to the EPA Water Infrastructure and Cyber Resilience Division. This partnership highlights AECOM's dedication to collaborative efforts aimed at securing essential resources for current and future generations.
The newly awarded contract allows AECOM to deliver technical assistance, public engagement, security and resilience expertise, and program management support to the EPA. The company will conduct an extensive assessment of baseline resiliency and evaluate the impact of both natural and manmade threats across the water sector.
With this contract win, AECOM solidifies its position as a leader in providing comprehensive solutions for critical infrastructure challenges. The company's multidisciplinary expertise, coupled with its global resources, uniquely equips it to address the complexities of protecting and enhancing water systems in the face of evolving threats.
Domestic Infrastructural Push
In the United States, the $1.2-trillion Infrastructure and Jobs Act marks a generational investment in infrastructure. This bill provides the much-needed long-term funding certainty across the company’s strongest end markets, such as transit modernization, electrification, environmental remediation and climate resilience. Also, the U.S. government passed its fiscal 2022 Omnibus Budget in March 2022, which creates optimism around the pace of growth for AECOM’s government clients in fiscal 2023.
Demand for AECOM’s technical, advisory and program management capabilities is increasing against a backdrop of an improving funding environment, highlighted by the recent passing of the federal infrastructure bill in the United States as well as rising demand for ESG-related services. This underpins the company’s expectation for accelerating revenue growth in fiscal 2023 as well as continued margin, adjusted EBITDA and adjusted EPS growth.
Share Price Performance
Image Source: Zacks Investment Research
Shares of ACM have gained 27.9% in the past year compared with the Zacks Engineering - R and D Services industry’s rise of 22.4%. Earnings estimates for 2023 have increased to $3.70 per share from $3.67 in the past 60 days. This depicts analysts' optimism about the company’s growth.
Zacks Rank & Key Picks
AECOM currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Construction sector:
The Zacks Consensus Estimate for DY’s 2023 sales and earnings per share (EPS) indicates a rise of 8.3% and 41%, respectively, from the year-ago period.
Martin Marietta Materials, Inc. (MLM - Free Report) sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 31%, on average. Shares of MLM have gained 41.8% in the past year.
The Zacks Consensus Estimate for MLM’s 2023 sales and EPS indicates a rise of 19% and 33.1%, respectively, from a year ago.
Vulcan Materials Company (VMC - Free Report) sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 7.1%, on average. Shares of VMC have gained 46.4% in the past year.
The Zacks Consensus Estimate for VMC’s 2023 sales and EPS indicates a rise of 5.9% and 27.6%, respectively, from the prior-year period.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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AECOM (ACM) Secures Contract to Boost Water Infrastructure
AECOM (ACM - Free Report) , the renowned infrastructure consulting firm, has announced its participation in a five-year contract with the U.S. Environmental Protection Agency (EPA) to support the protection and security of the nation's drinking water and wastewater infrastructure. The contract, a single-award indefinite delivery, indefinite quantity agreement, underscores AECOM's commitment toward sustainable environmental progress and resilience.
As part of a project team led by General Dynamics Information Technology (“GDIT”), AECOM will provide engineering subject matter expertise in technical, cyber, education and program management services to the EPA Water Infrastructure and Cyber Resilience Division. This partnership highlights AECOM's dedication to collaborative efforts aimed at securing essential resources for current and future generations.
The newly awarded contract allows AECOM to deliver technical assistance, public engagement, security and resilience expertise, and program management support to the EPA. The company will conduct an extensive assessment of baseline resiliency and evaluate the impact of both natural and manmade threats across the water sector.
With this contract win, AECOM solidifies its position as a leader in providing comprehensive solutions for critical infrastructure challenges. The company's multidisciplinary expertise, coupled with its global resources, uniquely equips it to address the complexities of protecting and enhancing water systems in the face of evolving threats.
Domestic Infrastructural Push
In the United States, the $1.2-trillion Infrastructure and Jobs Act marks a generational investment in infrastructure. This bill provides the much-needed long-term funding certainty across the company’s strongest end markets, such as transit modernization, electrification, environmental remediation and climate resilience. Also, the U.S. government passed its fiscal 2022 Omnibus Budget in March 2022, which creates optimism around the pace of growth for AECOM’s government clients in fiscal 2023.
Demand for AECOM’s technical, advisory and program management capabilities is increasing against a backdrop of an improving funding environment, highlighted by the recent passing of the federal infrastructure bill in the United States as well as rising demand for ESG-related services. This underpins the company’s expectation for accelerating revenue growth in fiscal 2023 as well as continued margin, adjusted EBITDA and adjusted EPS growth.
Share Price Performance
Image Source: Zacks Investment Research
Shares of ACM have gained 27.9% in the past year compared with the Zacks Engineering - R and D Services industry’s rise of 22.4%. Earnings estimates for 2023 have increased to $3.70 per share from $3.67 in the past 60 days. This depicts analysts' optimism about the company’s growth.
Zacks Rank & Key Picks
AECOM currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Construction sector:
Dycom Industries, Inc. (DY - Free Report) sports a Zacks Rank #1 (Strong Buy). DY has a trailing four-quarter earnings surprise of 153.7%, on average. Shares of DY have gained 12.7% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for DY’s 2023 sales and earnings per share (EPS) indicates a rise of 8.3% and 41%, respectively, from the year-ago period.
Martin Marietta Materials, Inc. (MLM - Free Report) sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 31%, on average. Shares of MLM have gained 41.8% in the past year.
The Zacks Consensus Estimate for MLM’s 2023 sales and EPS indicates a rise of 19% and 33.1%, respectively, from a year ago.
Vulcan Materials Company (VMC - Free Report) sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 7.1%, on average. Shares of VMC have gained 46.4% in the past year.
The Zacks Consensus Estimate for VMC’s 2023 sales and EPS indicates a rise of 5.9% and 27.6%, respectively, from the prior-year period.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.