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AECOM's (ACM) JV Wins Water Purification Contract in CA
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AECOM (ACM - Free Report) recently announced that its joint venture or JV company won a deal to support the East County Advanced Water Purification Program in San Diego, CA.
Per this deal, the Joint Powers Authority has extended the services for the program. The scope of the work includes final design, construction management, startup and commissioning for the new water recycling facility, biosolids processing, an advanced water purification facility, and conveyance infrastructure, including pipelines and pumping stations.
Since 2020, the AECOM’s JV team has been providing preliminary engineering, permitting, and cost-estimating services. The work for the program is scheduled to be completed in 2026 and is expected to generate up to 11.5 million gallons of purified water per day. This will diversify San Diego’s water supply, reduce dependence on imported water and meet approximately 30% of the current drinking water supply for East San Diego County residents and businesses.
Beverley Stinson, chief executive of AECOM’s global Water business, stated, “The East County Advanced Water Purification Program is the result of many years of strategic planning, and we’re thrilled to have celebrated its recent groundbreaking along with the project’s partners and stakeholders.”
Project Execution Strengthen Profitability
AECOM is a leading solutions provider supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government and 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.
On Oct 3, the company and other firms like KBR Inc. (KBR - Free Report) received a contract to deliver a major work package for the Melbourne Airport Rail project.
AECOM is witnessing robust prospects in all its segments. Contracted backlog, one of the best leading indicators for future growth, increased by 17%. The total backlog increased from $39.69 billion reported in the prior-year quarter (including 10% growth in the design business) to $41.1 billion at the fiscal third-quarter end.
Image Source: Zacks Investment Research
Shares of the company have outperformed the Zacks Engineering - R and D Services industry in the past three months. This leading professional, technical and management solutions provider is witnessing a robust pipeline of pursuits across the business. It benefits from solid infrastructure spending in the U.K., Canada, Hong Kong and Australia.
Arcosa, Inc. (ACA - Free Report) , currently sporting a Zacks Rank #1, is a manufacturer of infrastructure-related products and services, serving construction, energy and transportation markets.
ACA’s expected earnings growth rate for 2022 is 19.7%. The Zacks Consensus Estimate for current-year earnings has improved to $2.31 per share from $2.08 over the past 60 days.
Dycom Industries, Inc. (DY - Free Report) is benefiting from the higher demand for network bandwidth and mobile broadband, extended geography, proficient program management and network planning services. Dycom expects considerable opportunities across a broad array of customers.
Dycom, which currently sports a Zacks Rank #1, has expected earnings growth of 142.1% for fiscal 2023. The Zacks Consensus Estimate for DY’s 2022 earnings rose to $3.68 per share from $3.28 in the past 60 days.
About KBR
KBR, which currently carries a Zacks Rank #3, has been gaining from broad-based growth across its business segments, courtesy of its high-end and differentiated government business work, strong margin performance, and technology and consulting services.
KBR’s expected earnings growth rate for 2022 is 8.7%. The Zacks Consensus Estimate for current-year earnings has improved to $2.63 per share from $2.62 over the past 30 days.
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AECOM's (ACM) JV Wins Water Purification Contract in CA
AECOM (ACM - Free Report) recently announced that its joint venture or JV company won a deal to support the East County Advanced Water Purification Program in San Diego, CA.
Per this deal, the Joint Powers Authority has extended the services for the program. The scope of the work includes final design, construction management, startup and commissioning for the new water recycling facility, biosolids processing, an advanced water purification facility, and conveyance infrastructure, including pipelines and pumping stations.
Since 2020, the AECOM’s JV team has been providing preliminary engineering, permitting, and cost-estimating services. The work for the program is scheduled to be completed in 2026 and is expected to generate up to 11.5 million gallons of purified water per day. This will diversify San Diego’s water supply, reduce dependence on imported water and meet approximately 30% of the current drinking water supply for East San Diego County residents and businesses.
Beverley Stinson, chief executive of AECOM’s global Water business, stated, “The East County Advanced Water Purification Program is the result of many years of strategic planning, and we’re thrilled to have celebrated its recent groundbreaking along with the project’s partners and stakeholders.”
Project Execution Strengthen Profitability
AECOM is a leading solutions provider supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government and 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.
On Oct 3, the company and other firms like KBR Inc. (KBR - Free Report) received a contract to deliver a major work package for the Melbourne Airport Rail project.
AECOM is witnessing robust prospects in all its segments. Contracted backlog, one of the best leading indicators for future growth, increased by 17%. The total backlog increased from $39.69 billion reported in the prior-year quarter (including 10% growth in the design business) to $41.1 billion at the fiscal third-quarter end.
Image Source: Zacks Investment Research
Shares of the company have outperformed the Zacks Engineering - R and D Services industry in the past three months. This leading professional, technical and management solutions provider is witnessing a robust pipeline of pursuits across the business. It benefits from solid infrastructure spending in the U.K., Canada, Hong Kong and Australia.
Zacks Rank & Key Picks
AECOM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Arcosa, Inc. (ACA - Free Report) , currently sporting a Zacks Rank #1, is a manufacturer of infrastructure-related products and services, serving construction, energy and transportation markets.
ACA’s expected earnings growth rate for 2022 is 19.7%. The Zacks Consensus Estimate for current-year earnings has improved to $2.31 per share from $2.08 over the past 60 days.
Dycom Industries, Inc. (DY - Free Report) is benefiting from the higher demand for network bandwidth and mobile broadband, extended geography, proficient program management and network planning services. Dycom expects considerable opportunities across a broad array of customers.
Dycom, which currently sports a Zacks Rank #1, has expected earnings growth of 142.1% for fiscal 2023. The Zacks Consensus Estimate for DY’s 2022 earnings rose to $3.68 per share from $3.28 in the past 60 days.
About KBR
KBR, which currently carries a Zacks Rank #3, has been gaining from broad-based growth across its business segments, courtesy of its high-end and differentiated government business work, strong margin performance, and technology and consulting services.
KBR’s expected earnings growth rate for 2022 is 8.7%. The Zacks Consensus Estimate for current-year earnings has improved to $2.63 per share from $2.62 over the past 30 days.