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AECOM's JV With Binnies Wins Changi WRP Expansion Project
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Key Takeaways
AECOM and Binnies will design and supervise the Changi WRP Phase 3 expansion in Singapore.
Expansion adds up to 96M gallons daily treatment capacity, supporting PUB's water system goals.
ACM backlog hit record highs in Q3 2025, driving stronger earnings, cash flow, and growth outlook.
The joint venture (JV) between AECOM (ACM - Free Report) and Binnies Singapore, which is an RSK Group company, has been selected by Singapore's National Water Agency, PUB, for the Phase 3 expansion of the Changi Water Reclamation Plant (WRP).
Focused on the expansion in the eastern region of Singapore, the completion of the Changi WRP Phase 3 expansion project will ensure a sustainable water supply for Singapore.
AECOM JV’s Work Scope in the New Win
Being one of the largest used water treatment facilities globally, Changi WRP’s third expansion phase will boost its treatment capacity by up to 96 million gallons per day. Moreover, this plays an important part in PUB's water management system as it forms the foundation of the Deep Tunnel Sewerage System.
Per the contract, the JV of AECOM and Binnies will offer the preliminary design of the plant’s expansion works and engage in construction supervision, alongside overseeing a cost-benefit analysis to ensure the most effective design solution. Additionally, for prospective expansion plans in the long term, the JV will also undergo effective engineering and environmental studies.
ACM’s Backlog Strength
The demand for AECOM's services in the transportation, water, environment, energy and facilities sectors is growing as multi-decade global investments in infrastructure modernization and sustainability continue to drive demand, and government policies, such as the 'Big Beautiful Bill,' are fueling growth in clean energy infrastructure and resilience projects.
At the end of the third-quarter fiscal 2025, backlog reached a new all-time high, growing both sequentially and year over year, while the book-to-burn ratio remained above 1 for the 19th consecutive quarter. For the third consecutive quarter, AECOM increased its full-year fiscal 2025 guidance, with adjusted EBITDA and EPS up 10% and 16% year to date, respectively, and free cash flow up 27%. Supported by multi-decade megatrends in global infrastructure, sustainability and resilience, management anticipates sustainable growth in the future and is still optimistic about further margin expansion and shareholder value creation.
Image Source: Zacks Investment Research
AECOM stock has gained 12.4% year to date compared with the Zacks Engineering - R and D Services industry’s 10.5% growth. Despite near-term budgetary constraints, long-term megatrends such as infrastructure investment, sustainability and resilience are expected to drive sustainable growth.
ACM’s Zacks Rank & Key Picks
AECOM currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Construction sector.
Everus Construction Group (ECG - Free Report) presently sports a Zacks Rank #1 (Strong Buy). The company delivered a trailing four-quarter earnings surprise of 42.7%, on average. The stock has jumped 15.1% year to date. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Everus Construction’s 2025 sales and earnings per share (EPS) indicates growth of 18% and 3.9%, respectively, from the year-ago period’s levels.
Tutor Perini (TPC - Free Report) sports a Zacks Rank of 1 at present. The company delivered a trailing four-quarter earnings surprise of 387.2%, on average. The stock has skyrocketed 134.5% year to date.
The Zacks Consensus Estimate for Tutor Perini’s 2025 sales and EPS indicates growth of 20.6% and 187%, respectively, from the prior-year levels.
Great Lakes Dredge & Dock (GLDD - Free Report) flaunts a Zacks Rank of 1 at present. The company delivered a trailing four-quarter earnings surprise of 45.3%, on average. The stock has gained 0.5% year to date.
The Zacks Consensus Estimate for Great Lakes Dredge & Dock’s 2025 sales and EPS indicates growth of 9% and 21.4%, respectively, from the prior-year levels.
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AECOM's JV With Binnies Wins Changi WRP Expansion Project
Key Takeaways
The joint venture (JV) between AECOM (ACM - Free Report) and Binnies Singapore, which is an RSK Group company, has been selected by Singapore's National Water Agency, PUB, for the Phase 3 expansion of the Changi Water Reclamation Plant (WRP).
Focused on the expansion in the eastern region of Singapore, the completion of the Changi WRP Phase 3 expansion project will ensure a sustainable water supply for Singapore.
AECOM JV’s Work Scope in the New Win
Being one of the largest used water treatment facilities globally, Changi WRP’s third expansion phase will boost its treatment capacity by up to 96 million gallons per day. Moreover, this plays an important part in PUB's water management system as it forms the foundation of the Deep Tunnel Sewerage System.
Per the contract, the JV of AECOM and Binnies will offer the preliminary design of the plant’s expansion works and engage in construction supervision, alongside overseeing a cost-benefit analysis to ensure the most effective design solution. Additionally, for prospective expansion plans in the long term, the JV will also undergo effective engineering and environmental studies.
ACM’s Backlog Strength
The demand for AECOM's services in the transportation, water, environment, energy and facilities sectors is growing as multi-decade global investments in infrastructure modernization and sustainability continue to drive demand, and government policies, such as the 'Big Beautiful Bill,' are fueling growth in clean energy infrastructure and resilience projects.
At the end of the third-quarter fiscal 2025, backlog reached a new all-time high, growing both sequentially and year over year, while the book-to-burn ratio remained above 1 for the 19th consecutive quarter. For the third consecutive quarter, AECOM increased its full-year fiscal 2025 guidance, with adjusted EBITDA and EPS up 10% and 16% year to date, respectively, and free cash flow up 27%. Supported by multi-decade megatrends in global infrastructure, sustainability and resilience, management anticipates sustainable growth in the future and is still optimistic about further margin expansion and shareholder value creation.
Image Source: Zacks Investment Research
AECOM stock has gained 12.4% year to date compared with the Zacks Engineering - R and D Services industry’s 10.5% growth. Despite near-term budgetary constraints, long-term megatrends such as infrastructure investment, sustainability and resilience are expected to drive sustainable growth.
ACM’s Zacks Rank & Key Picks
AECOM currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Construction sector.
Everus Construction Group (ECG - Free Report) presently sports a Zacks Rank #1 (Strong Buy). The company delivered a trailing four-quarter earnings surprise of 42.7%, on average. The stock has jumped 15.1% year to date. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Everus Construction’s 2025 sales and earnings per share (EPS) indicates growth of 18% and 3.9%, respectively, from the year-ago period’s levels.
Tutor Perini (TPC - Free Report) sports a Zacks Rank of 1 at present. The company delivered a trailing four-quarter earnings surprise of 387.2%, on average. The stock has skyrocketed 134.5% year to date.
The Zacks Consensus Estimate for Tutor Perini’s 2025 sales and EPS indicates growth of 20.6% and 187%, respectively, from the prior-year levels.
Great Lakes Dredge & Dock (GLDD - Free Report) flaunts a Zacks Rank of 1 at present. The company delivered a trailing four-quarter earnings surprise of 45.3%, on average. The stock has gained 0.5% year to date.
The Zacks Consensus Estimate for Great Lakes Dredge & Dock’s 2025 sales and EPS indicates growth of 9% and 21.4%, respectively, from the prior-year levels.