AECOM Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>AECOM filed its Q2 2024 10-Q, detailing financial data and corporate information.</b>

AI Summary

AECOM (ACM) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. AECOM reported its financial results for the period ending March 31, 2024. The filing includes data related to common stock and additional paid-in capital. Key dates for financial reporting and name changes are noted. The company's fiscal year ends on September 30. AECOM is incorporated in Delaware and headquartered in Dallas, Texas.

Why It Matters

For investors and stakeholders tracking AECOM, this filing contains several important signals. This filing provides investors with the latest financial performance and position of AECOM, crucial for investment decisions. Understanding the changes in equity accounts like common stock and additional paid-in capital offers insight into capital structure and potential share-based activities.

Risk Assessment

Risk Level: — AECOM shows moderate risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags.

Analyst Insight

Monitor AECOM's upcoming earnings calls and subsequent filings for trends in revenue, net income, and debt levels.

Key Numbers

• 09-30 — Fiscal Year End (Fiscal year end date)
• 2024-03-31 — Quarter End Date (End date of the reporting period)
• 2024-05-07 — Filing Date (Date the 10-Q was filed)

Key Players & Entities

• AECOM (company) — Filer
• AECOM TECHNOLOGY CORP (company) — Former company name
• 1990-10-17 (date) — Date of name change
• 2024-03-31 (date) — Period of report
• 2024-05-07 (date) — Filed as of date
• Dallas, TX (location) — Business and mailing address

FAQ

Industry Context

AECOM operates in the engineering and construction services industry, providing a wide range of services globally.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management's discussion and analysis.
2. Compare the reported equity figures with previous periods to identify trends.
3. Note the company's fiscal year-end and reporting cycle for future reference.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending March 31, 2024, following the previous period's filings.

Key Financial Figures

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

Filing Documents

• acm-20240331x10q.htm (10-Q) — 2945KB
• acm-20240331xex31d1.htm (EX-31.1) — 12KB
• acm-20240331xex31d2.htm (EX-31.2) — 12KB
• acm-20240331xex32.htm (EX-32) — 8KB
• 0001410578-24-000608.txt (&nbsp;) — 12381KB
• acm-20240331.xsd (EX-101.SCH) — 60KB
• acm-20240331_cal.xml (EX-101.CAL) — 100KB
• acm-20240331_def.xml (EX-101.DEF) — 279KB
• acm-20240331_lab.xml (EX-101.LAB) — 607KB
• acm-20240331_pre.xml (EX-101.PRE) — 448KB
• acm-20240331x10q_htm.xml (XML) — 2691KB

Financial Statements

Financial Statements 1 Consolidated Balance Sheets as of March 31, 2024 (unaudited) and September 30, 2023 1 Consolidated Statements of Operations for the Three and Six Months Ended March 31, 2024 (unaudited) and March 31, 2023 (unaudited) 2 Consolidated Statements of Comprehensive Income for the Three and Six Months Ended March 31, 2024 (unaudited) and March 31, 2023 (unaudited) 3 Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended March 31, 2024 (unaudited) and March 31, 2023 (unaudited) 4 Consolidated Statements of Cash Flows for the Six Months Ended March 31, 2024 (unaudited) and March 31, 2023 (unaudited) 6

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 7 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 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 43 PART II. OTHER INFORMATION 43 Item 1.

Legal Proceedings

Legal Proceedings 43 Item 1A.

Risk Factors

Risk Factors 43 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3. Defaults Upon Senior Securities 44 Item 4. Mine Safety Disclosure 44 Item 5 . Other Information 44 Item 6. Exhibits 45

SIGNATURES

SIGNATURES 46 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) March 31, September 30, 2024 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 910,934 $ 1,030,447 Cash in consolidated joint ventures 274,872 229,759 Total cash and cash equivalents 1,185,806 1,260,206 Accounts receivable—net 2,646,722 2,544,453 Contract assets 1,805,622 1,525,051 Prepaid expenses and other current assets 725,847 730,145 Current assets held for sale 105,091 95,221 Income taxes receivable 28,698 14,435 TOTAL CURRENT ASSETS 6,497,786 6,169,511 PROPERTY AND EQUIPMENT—NET 372,384 382,638 DEFERRED TAX ASSETS—NET 444,957 439,604 INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES 137,422 139,236 GOODWILL 3,446,984 3,418,930 INTANGIBLE ASSETS—NET 16,111 17,769 OTHER NON-CURRENT ASSETS 118,899 218,666 OPERATING LEASE RIGHT-OF-USE ASSETS 422,850 447,044 TOTAL ASSETS $ 11,457,393 $ 11,233,398 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Short-term debt $ 2,914 $ 3,085 Accounts payable 2,304,539 2,190,755 Accrued expenses and other current liabilities 2,385,201 2,287,546 Income taxes payable 36,723 48,161 Contract liabilities 1,267,045 1,188,742 Current liabilities held for sale 51,141 45,625 Current portion of long-term debt 88,552 86,369 TOTAL CURRENT LIABILITIES 6,136,115 5,850,283 OTHER LONG-TERM LIABILITIES 119,797 123,846 OPERATING LEASE LIABILITIES, NON-CURRENT 507,518 548,851 LONG-TERM LIABILITIES HELD FOR SALE 796 792 DEFERRED TAX LIABILITY-NET 16,990 16,960 PENSION BENEFIT OBLIGATIONS 179,464 195,586 LONG-TERM DEBT 2,102,358 2,113,369 TOTAL LIABILITIES 9,063,038 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 March 31, 2024 and September 30, 2023

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 and six months ended March 31, 2024 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 an

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View this 10-Q filing on SEC EDGAR