AECOM ( ACM Quick Quote ACM - Free Report) won a place on the Ontario Line Southern Civil, Stations and Tunnel (South) project. Selected by Infrastructure Ontario and Metrolinx, this infrastructure consulting firm will work as a design services provider for the Ontario Transit Group team, which includes seven other companies. The team’s scope of work includes civil, station and tunnel work for the southern portion of the Ontario Line, which will run from Exhibition Place to the Don Yard portal. The line will connect with more than 40 other transit points along the way, including regional trains, subways, light rail and more. Jennifer Aument, chief executive of AECOM’s global Transportation business, stated, “With our global expertise delivering reliable, sustainable, and integrated transportation systems, we look forward to providing high-quality solutions that will pave the way for lasting benefits to those traveling within Toronto and beyond.” Post completion of this project, the Ontario Line is expected to provide faster and more frequent access to transit, with hundreds of thousands of people living within a 10-minute walk of one of its stations. 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 Nov 15, ACM received a contract from San Diego Gas & Electric (SDG&E) to provide project management services to reduce wildfire risk and improve electric safety and reliability in selected areas. Again on Nov 10, its joint venture received the California High-Speed Rail Authority contract to provide program management services for the first in the nation electrified high-speed rail line. Earlier in the month, its South Jersey Transit Partners JV was selected by the Glassboro-Camden Line (GCL) Project Team to provide engineering, project management and additional professional services for the GCL Light Rail project in New Jersey. AECOM is witnessing robust prospects in all its segments. Total September-end backlog, one of the best leading indicators for future growth, increased 4.1%. The current backlog level includes 53.2% contracted backlog growth. Image Source: Zacks Investment Research
In the past six months, shares of the company have gained 15.9% compared with the Zacks
Engineering - R and D Services industry’s 2.1% rally. 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. Some better-ranked stocks, which warrant a look in the same industry, include Willdan Group, Inc. ( WLDN Quick Quote WLDN - Free Report) , Sterling Infrastructure, Inc. ( STRL Quick Quote STRL - Free Report) and Altair Engineering Inc. ( ALTR Quick Quote ALTR - Free Report) , each carrying a Zacks Rank #2 (Buy). Willdan is a nationwide provider of professional, technical, and consulting services to utilities, government agencies, and private industry. WLDN’s expected earnings growth rate for 2023 is 18.5%. Sterling Infrastructure provides transportation, e-infrastructure and building solutions. STRL’s expected earnings growth rate for 2022 and 2023 is 47.4% and 6.3%, respectively. Altair Engineering provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. ALTR’s expected earnings growth rate for 2022 and 2023 is 10.6% and 21.5%, respectively.