AECOM Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>AECOM's Q1 2024 10-Q filing details financial position and equity components.</b>

AI Summary

AECOM (ACM) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. AECOM reported financial results for the quarter ending December 31, 2023. The filing includes data on common stock, additional paid-in capital, retained earnings, and noncontrolling interest as of various dates. Key financial statement items such as operating lease right-of-use assets and property, plant, and equipment net are detailed. Current and non-current liabilities, including accrued liabilities and long-term debt, are presented. The report covers the fiscal period ending September 30, 2024, with data points from Q1 2024.

Why It Matters

For investors and stakeholders tracking AECOM, this filing contains several important signals. This filing provides a snapshot of AECOM's financial health and equity structure at the end of the first quarter of fiscal year 2024. Investors can use this information to assess the company's asset base, debt levels, and shareholder equity, which are crucial for investment decisions.

Risk Assessment

Risk Level: low — AECOM shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain significant new risks or disclosures beyond routine financial reporting.

Analyst Insight

Monitor AECOM's subsequent filings for trends in revenue, net income, and debt levels to assess ongoing financial performance.

Key Numbers

• 2023-12-31 — Conformed Period of Report (End date of the reporting period)
• 2024-02-07 — Filed As Of Date (Date the report was filed)
• Q1 2024 — Fiscal Quarter (Reporting quarter)
• 09-30 — Fiscal Year End (AECOM's fiscal year end)

Key Players & Entities

• AECOM (company) — Filer of the 10-Q report
• 2023-12-31 (date) — Conformed period of report
• 2024-02-07 (date) — Filed as of date
• 0000868857 (company) — Central Index Key for AECOM
• 8711 (industry) — Standard Industrial Classification for Services-Engineering Services
• DE (state) — State of incorporation
• 13355 NOEL ROAD SUITE 400 DALLAS TX 75240 (address) — Business and mail address
• 000-52423 (filing_id) — SEC file number

Forward-Looking Statements

• AECOM will continue to adjust its capital structure to support strategic initiatives. (AECOM) — medium confidence, target: 2024-09-30

FAQ

Industry Context

AECOM operates in the engineering services industry, providing design, consulting, and management services for infrastructure projects.

Regulatory Implications

The filing adheres to SEC regulations for quarterly reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the balance sheet details for changes in assets, liabilities, and equity.
2. Analyze any disclosed notes to the financial statements for further context.
3. Compare current quarter data with previous periods to identify performance trends.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing updated financial information compared to the previous fiscal year's reports.

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value ACM New York Stock Exchan

Filing Documents

• acm-20231231x10q.htm (10-Q) — 2159KB
• acm-20231231xex10d1.htm (EX-10.1) — 138KB
• acm-20231231xex10d2.htm (EX-10.2) — 122KB
• acm-20231231xex10d3.htm (EX-10.3) — 8KB
• acm-20231231xex10d4.htm (EX-10.4) — 11KB
• acm-20231231xex31d1.htm (EX-31.1) — 13KB
• acm-20231231xex31d2.htm (EX-31.2) — 13KB
• acm-20231231xex32.htm (EX-32) — 8KB
• acm-20231231xex10d1001.jpg (GRAPHIC) — 13KB
• acm-20231231xex10d2001.jpg (GRAPHIC) — 12KB
• 0001104659-24-011234.txt (&nbsp;) — 10702KB
• acm-20231231.xsd (EX-101.SCH) — 59KB
• acm-20231231_cal.xml (EX-101.CAL) — 99KB
• acm-20231231_def.xml (EX-101.DEF) — 277KB
• acm-20231231_lab.xml (EX-101.LAB) — 598KB
• acm-20231231_pre.xml (EX-101.PRE) — 444KB
• acm-20231231x10q_htm.xml (XML) — 2029KB

Financial Statements

Financial Statements 1 Consolidated Balance Sheets as of December 31, 2023 (unaudited) and September 30, 2023 1 Consolidated Statements of Operations for the Three Months Ended December 31, 2023 (unaudited) and December 31, 2022 (unaudited) 2 Consolidated Statements of Comprehensive Income for the Three Months Ended December 31, 2023 (unaudited) and December 31, 2022 (unaudited) 3 Consolidated Statements of Stockholders' Equity for the Three Months Ended December 31, 2023 (unaudited) and December 31, 2022 (unaudited) 4 Consolidated Statements of Cash Flows for the Three Months Ended December 31, 2023 (unaudited) and December 31, 2022 (unaudited) 5

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36 PART II. OTHER INFORMATION 37 Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosure 37 Item 5 . Other Information 37 Item 6. Exhibits 38

SIGNATURES

SIGNATURES 39 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements AECOM Consolidated Balance Sheets (unaudited - in thousands, except share data) December 31, September 30, 2023 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 987,377 $ 1,030,447 Cash in consolidated joint ventures 204,883 229,759 Total cash and cash equivalents 1,192,260 1,260,206 Accounts receivable—net 2,524,502 2,544,453 Contract assets 1,744,521 1,525,051 Prepaid expenses and other current assets 723,139 730,145 Current assets held for sale 85,896 95,221 Income taxes receivable 11,714 14,435 TOTAL CURRENT ASSETS 6,282,032 6,169,511 PROPERTY AND EQUIPMENT—NET 389,728 382,638 DEFERRED TAX ASSETS—NET 459,568 439,604 INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES 132,460 139,236 GOODWILL 3,458,675 3,418,930 INTANGIBLE ASSETS—NET 20,745 17,769 OTHER NON-CURRENT ASSETS 208,891 218,666 OPERATING LEASE RIGHT-OF-USE ASSETS 437,822 447,044 TOTAL ASSETS $ 11,389,921 $ 11,233,398 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Short-term debt $ 3,173 $ 3,085 Accounts payable 2,109,617 2,190,755 Accrued expenses and other current liabilities 2,419,998 2,287,546 Income taxes payable 59,219 48,161 Contract liabilities 1,282,681 1,188,742 Current liabilities held for sale 39,424 45,625 Current portion of long-term debt 88,374 86,369 TOTAL CURRENT LIABILITIES 6,002,486 5,850,283 OTHER LONG-TERM LIABILITIES 117,108 123,846 OPERATING LEASE LIABILITIES, NON-CURRENT 523,275 548,851 LONG-TERM LIABILITIES HELD FOR SALE 828 792 DEFERRED TAX LIABILITY-NET 16,953 16,960 PENSION BENEFIT OBLIGATIONS 190,850 195,586 LONG-TERM DEBT 2,110,203 2,113,369 TOTAL LIABILITIES 8,961,703 8,849,687 COMMITMENTS AND CONTINGENCIES (Note 15) AECOM STOCKHOLDERS' EQUITY: Common stock-authorized, 300,000,000 shares of $ 0.01 par value as of December 31, 2023 and September 30,

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (unaudited) 1. Basis of Presentation The accompanying consolidated financial statements of AECOM (the Company) are unaudited and, in the opinion of management, include all adjustments, including all normal recurring items necessary for a fair statement of the Company's financial position and results of operations for the periods presented. All intercompany balances and transactions are eliminated in consolidation. The consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Form 10-K for the fiscal year ended September 30, 2023 (the Annual Report). The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance with generally accepted accounting principles (GAAP) in the United States (U.S.) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The consolidated financial statements included in this report have been prepared consistently with the accounting policies described in the Annual Report, except as noted, and should be read together with the Annual Report. The results of operations for the three months ended December 31, 2023 are not necessarily indicative of the results to be expected for the fiscal year ending September 30, 2024. As discussed in more detail in Note 3, the Company concluded that its self-perform at-risk construction businesses met the criteria for held for sale beginning in the first quarter of fiscal 2020 and met the criteria for discontinued operation classification. As a result, the self-perform at-risk construction businesses are presented in the consolidated statements of operations as discontinued operations for all periods presented. Current and non-current assets and lia

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View this 10-Q filing on SEC EDGAR