AECOM Files 10-Q for June 30, 2024
Ticker: ACM · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 868857
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
AECOM's Q2 2024 10-Q is in. Check financials.
AI Summary
AECOM filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position. Key financial data and operational updates are provided for stakeholders.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational details for AECOM, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Players & Entities
- AECOM (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240806 (date) — Filing date
- 0001410578-24-001162 (other) — Accession number for the filing
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, meaning the filing covers the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on 20240806.
What is AECOM's Standard Industrial Classification code?
AECOM's SIC code is 8711, which corresponds to SERVICES-ENGINEERING SERVICES.
What is AECOM's fiscal year end?
AECOM's fiscal year ends on 0930.
What is the business address listed for AECOM?
AECOM's business address is 13355 NOEL ROAD, SUITE 400, DALLAS, TX 75240.
Filing Stats: 4,526 words · 18 min read · ~15 pages · Grade level 12.4 · Accepted 2024-08-06 16:30:44
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value ACM New York Stock Exchan
Filing Documents
- acm-20240630x10q.htm (10-Q) — 2984KB
- acm-20240630xex31d1.htm (EX-31.1) — 12KB
- acm-20240630xex31d2.htm (EX-31.2) — 12KB
- acm-20240630xex32.htm (EX-32) — 8KB
- 0001410578-24-001162.txt ( ) — 12665KB
- acm-20240630.xsd (EX-101.SCH) — 62KB
- acm-20240630_cal.xml (EX-101.CAL) — 104KB
- acm-20240630_def.xml (EX-101.DEF) — 289KB
- acm-20240630_lab.xml (EX-101.LAB) — 630KB
- acm-20240630_pre.xml (EX-101.PRE) — 462KB
- acm-20240630x10q_htm.xml (XML) — 2722KB
Financial Statements
Financial Statements 1 Consolidated Balance Sheets as of June 30, 2024 (unaudited) and September 30, 2023 1 Consolidated Statements of Operations for the Three and Nine Months Ended June 30, 2024 (unaudited) and June 30, 2023 (unaudited) 2 Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended June 30, 2024 (unaudited) and June 30, 2023 (unaudited) 3 Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended June 30, 2024 (unaudited) and June 30, 2023 (unaudited) 4 Consolidated Statements of Cash Flows for the Nine Months Ended June 30, 2024 (unaudited) and June 30, 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) June 30, September 30, 2024 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 1,349,172 $ 1,030,447 Cash in consolidated joint ventures 295,640 229,759 Total cash and cash equivalents 1,644,812 1,260,206 Accounts receivable—net 2,660,421 2,544,453 Contract assets 1,884,755 1,525,051 Prepaid expenses and other current assets 732,455 730,145 Current assets held for sale 135,970 95,221 Income taxes receivable 60,251 14,435 TOTAL CURRENT ASSETS 7,118,664 6,169,511 PROPERTY AND EQUIPMENT—NET 356,878 382,638 DEFERRED TAX ASSETS—NET 398,871 439,604 INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES 140,629 139,236 GOODWILL 3,448,160 3,418,930 INTANGIBLE ASSETS—NET 11,515 17,769 OTHER NON-CURRENT ASSETS 151,590 218,666 OPERATING LEASE RIGHT-OF-USE ASSETS 420,291 447,044 TOTAL ASSETS $ 12,046,598 $ 11,233,398 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Short-term debt $ 2,522 $ 3,085 Accounts payable 2,436,736 2,190,755 Accrued expenses and other current liabilities 2,414,250 2,287,546 Income taxes payable 44,893 48,161 Contract liabilities 1,261,853 1,188,742 Current liabilities held for sale 65,762 45,625 Current portion of long-term debt 63,628 86,369 TOTAL CURRENT LIABILITIES 6,289,644 5,850,283 OTHER LONG-TERM LIABILITIES 123,402 123,846 OPERATING LEASE LIABILITIES, NON-CURRENT 496,681 548,851 LONG-TERM LIABILITIES HELD FOR SALE 782 792 DEFERRED TAX LIABILITY-NET 17,784 16,960 PENSION BENEFIT OBLIGATIONS 168,085 195,586 LONG-TERM DEBT 2,451,544 2,113,369 TOTAL LIABILITIES 9,547,922 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 June 30, 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 nine months ended June 30, 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