AECOM Sees FY24 EPS $4.45-$4.55 Vs $4.45 Est.

Author: Benzinga Newsdesk | August 05, 2024 04:10pm

Fiscal 2024 Financial Guidance

• The Company increased its earnings guidance for fiscal 2024, including its expectation to deliver adjusted1 EBITDA4 of between $1,075 million and $1,105 million and adjusted1 EPS of between $4.45 and $4.55, reflecting 13% and 21% year-over-year growth, respectively.
• The Company's fiscal 2024 guidance also includes expectations for:
  • Organic NSR2 growth at the lower end of the 8% to 10% range.
  • A segment adjusted1 operating income margin3 of approximately 15.6%, representing a 90 basis point increase from fiscal 2023.
  • 100%+ free cash flow6 conversion, reflecting the highly cash generative nature of the Company's Professional Services business.
  • An average fully diluted share count of 136 million, which reflects only shares repurchased to-date, though the Company intends to continue repurchasing stock that would provide a benefit to per share earnings.
  • An adjusted effective tax rate of approximately 25% for the full year.
  • Return on invested capital9 (ROIC) of approximately 20%.
• See the Regulation G Information tables at the end of this release for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures.

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