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AECOM (ACM) Signs MOUs for Ukraine's Reconstruction Efforts
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AECOM (ACM - Free Report) has partnered with Ukraine's Ministry for Communities, Territories, and Infrastructure Development through a memorandum of understanding (MOU) to support Ukraine's reconstruction initiatives.
AECOM will serve as a reconstruction delivery partner and offer infrastructure and program management advisory services to assist Ukraine in accomplishing its reconstruction objectives.
Additionally, AECOM has signed a MOU with Ukraine's State Agency for Restoration and Development of Infrastructure. Through this collaboration, AECOM will offer integrated cost estimating and engineering support for complex and critical infrastructure projects in Ukraine. The company will leverage its program management technical expertise to assist in the reconstruction of Ukraine’s infrastructure.
This partnership not only boosts the engineering support available to Ukraine but also enhances AECOM's involvement in key reconstruction projects, further contributing to its financial growth and diversification.
Infrastructure Spending Trends Across International Borders
AECOM has expertise in reconstruction efforts worldwide. The company has provided many reconstruction projects in Iraq, Afghanistan and Bosnia.
Overall, the International segment’s backlog at the end of second-quarter fiscal 2023 increased 9.7% year over year, reflecting market share gains and growth visibility. Also, net service revenues increased 12% from the prior-year period. This hike reflects growth in the company’s largest and most profitable geographies comprising Ireland, Australia, New Zealand, Hong Kong, the United Kingdom and the Middle East. Management remains confident of attaining its goal of double-digit International margins by 2024.
Image Source: Zacks Investment Research
Shares of ACM have gained 34.3% in the past year compared with the Zacks Engineering - R and D Services industry’s rise of 25.7%. Earnings estimates for 2023 have increased to $3.70 per share from $3.67 in the past 60 days. This depicts analysts' optimism over the company’s growth prospects.
Zacks Rank & Key Picks
AECOM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Construction sector are:
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’s levels.
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 42.3% 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 the year-ago period’s levels.
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 45% 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 year-ago period’s levels.
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AECOM (ACM) Signs MOUs for Ukraine's Reconstruction Efforts
AECOM (ACM - Free Report) has partnered with Ukraine's Ministry for Communities, Territories, and Infrastructure Development through a memorandum of understanding (MOU) to support Ukraine's reconstruction initiatives.
AECOM will serve as a reconstruction delivery partner and offer infrastructure and program management advisory services to assist Ukraine in accomplishing its reconstruction objectives.
Additionally, AECOM has signed a MOU with Ukraine's State Agency for Restoration and Development of Infrastructure. Through this collaboration, AECOM will offer integrated cost estimating and engineering support for complex and critical infrastructure projects in Ukraine. The company will leverage its program management technical expertise to assist in the reconstruction of Ukraine’s infrastructure.
This partnership not only boosts the engineering support available to Ukraine but also enhances AECOM's involvement in key reconstruction projects, further contributing to its financial growth and diversification.
Infrastructure Spending Trends Across International Borders
AECOM has expertise in reconstruction efforts worldwide. The company has provided many reconstruction projects in Iraq, Afghanistan and Bosnia.
Overall, the International segment’s backlog at the end of second-quarter fiscal 2023 increased 9.7% year over year, reflecting market share gains and growth visibility. Also, net service revenues increased 12% from the prior-year period. This hike reflects growth in the company’s largest and most profitable geographies comprising Ireland, Australia, New Zealand, Hong Kong, the United Kingdom and the Middle East. Management remains confident of attaining its goal of double-digit International margins by 2024.
Image Source: Zacks Investment Research
Shares of ACM have gained 34.3% in the past year compared with the Zacks Engineering - R and D Services industry’s rise of 25.7%. Earnings estimates for 2023 have increased to $3.70 per share from $3.67 in the past 60 days. This depicts analysts' optimism over the company’s growth prospects.
Zacks Rank & Key Picks
AECOM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Construction sector are:
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 19.4% 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’s levels.
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 42.3% 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 the year-ago period’s levels.
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 45% 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 year-ago period’s levels.