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AECOM (ACM) Set to Serve as GEC for the City of Richardson

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AECOM (ACM - Free Report) has won a General Engineering Consultant (GEC) contract from the City of Richardson, TX to support the city’s Capital Improvement Program, including the recently approved 2021 Bond Program.

In order to identify opportunities that will enhance efficiency, minimize public disruption, and reduce costs, AECOM will provide program coordination, management, and delivery services to citywide projects associated with this program. The City of Richardson’s Capital Improvement Program includes nearly $400 million worth of projects and is likely to be delivered over the next five to seven years. These projects are focused on repairs and improvement of streets, public buildings, sidewalks, drainage, and parks.

Travis Boone, chief executive of AECOM’s U.S. West region, said, This comprehensive bond program will provide necessary renovations to public buildings, parks, and infrastructure across the city, prioritizing critical needs and maximum impact. Our team has a proven track record in the region, and we’re excited to bring our technical excellence and local knowledge to help deliver the successful completion of this program."

Solid Project Execution Aids AECOM

AECOM is a leading solutions provider for supporting professional, technical, and management solutions for diverse industries across end markets like transportation, facilities, government as well as environmental, energy, and water businesses. The major part of the U.S. government’s broad infrastructural plan is focused on transit and water markets, wherein AECOM enjoys a dominant position.

Currently, this leading professional, technical and management solution provider has been witnessing a robust pipeline of pursuits across the business. It has been benefiting from solid infrastructure spending in the United Kingdom, Canada, Hong Kong and Australia.

Zacks Investment ResearchImage Source: Zacks Investment Research

The stock has rallied 52.6% over a year compared with the industry’s 28.1% growth. Earnings estimates for fiscal 2022 have moved up 3.1% in the past 60 days, depicting analysts' optimism over bottom-line growth potential. The Zacks Consensus Estimate for the Zacks Rank #3 (Hold) company’s fiscal 2022 earnings indicates a 17% increase from the year-ago level. AECOM currently has good visibility into growth and a strong backlog for the upcoming quarters.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Boise Cascade, a Zacks Rank #1 stock, is expected to witness 159.1% growth in 2021 earnings. Shares of the company have jumped 45.8% in the past year.

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Louisiana-Pacific’s shares have appreciated 94.3% in the past year. LPX has an expected earnings growth rate of more than 213.2% for the current year.

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Weyerhaeuser’s earnings estimates for the current fiscal year have increased 0.9% over the past seven days. Shares of the company have jumped 18.2% in the past year.