And how confident are you in the backlog that you have in getting there? Market data powered by FactSet and Web Financial Group. We completed the $2.4 billion sale of Management Services business in January. With the most talented workforce in our industry, I remain confident that the best days for AECOM are yet ahead. 3 months AECOM (ACM) CEO Mike Burke on Q3 2020 Results – Earnings Call Transcript Seeking Alpha ... Earnings Call Transcript Seeking Alpha . And infrastructure spending is something that's top of mind for Democrats and Republicans, although you mentioned some of the Republican resistance. I would like to direct your attention to the safe harbor statement on Page one of today's presentation. How does that play through? So Troy or Randy, do you want to take that one? And it's just been a bit slowed down and a little reluctant to make a precipitous change during the challenging times. Second, when conditions normalize, we will look to return substantially all available excess capital to our stockholders. Good morning and welcome to the AECOM first-quarter 2019 earnings conference call. Please turn to slide nine. But we've learned at scale there, and we've deployed those learnings around the world, which are helping us maintain productivity in other markets that have gone to remote workforce. As you know in that space, it's rare that once you get started with a construction project, it's very, very rare that it stops, the reason being is we've got financing in place that requires you to finish it. 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And they were built around real estate improvements, design centers, built around use of our shared service center. I would like to inform all participants this call is being recorded at the request of AECOM. These investments have enabled a relatively seamless transition to remote working, and our ever-expanding digital solutions are deepening our client engagement as well. In April, utilization, NSR and profitability were ahead of our expectations, and we are ahead of our plan for the first seven months of the year. See how we deliver what others can only imagine at aecom.com and @AECOM. In the Americas, organic NSR was effectively unchanged with the prior year. So we do see that as a fairly significant opportunity to layer on top of the things that we have already executed on and have planned for the remainder of this year that will benefit this year and into 2021. We have consistently exceeded our financial targets over the past six quarters while delivering 300 basis points of margin improvement since fiscal 2018. This is largely due to having nearly 60% of our NSR from public sector clients where spending is often inversely correlated to GDP due to government stimulus investment in infrastructure that increases during periods of weaker economic activity. AECOM (ACM) Q3 2019 Earnings Call Transcript. Mr. Burke, I turn the call back over to you. Based on our global experience with COVID-19, we expect that shelter-in-place orders and construction shutdowns in the Americas and EMEA regions will begin to ease in the third quarter. I would say that we have confidence in the things that are within our control. Thanks, Mike. Can you just talk historically, like maybe what percentage of either gross or net revenue your travel cost has represented over the period of time just so we can have some context as to how much that's benefiting you? I was going to say, so and beyond that, there are a number of programs that the governments around the world have put in place to support the population and our workforce. Your next question comes from the line of Andy Kaplowitz with Citi. Notably, margins in the Americas segment lead our industry, and we have delivered substantially improved margins in the international segment. Great. While we lost 10 working days in Mainland China in February, we quickly called upon our resilience, IT and HR teams to ensure that our employees were safe and accounted for, and we took immediate actions to ensure business continuity. Well, there's certainly a lot of momentum. Second, our Professional Services business has a highly variable cost structure. Read full article. We did at the Investor Day give a guide. Call Participants. Okay. So just curious, what is the status of your 2021 targets? Logo of jester cap with thought bubble. There is just a natural kind of unwind of working capital in the second half of the year based on increased activity. So how concerned are you that projects in that business could move to the right? Contents: Prepared Remarks. Feb 07, 2020 @ 19:40. AECOM (NYSE:ACM)Q2 2020 Earnings CallMay 5, 2020, 12:00 p.m. Q2 2020 AECOM Earnings Call LOS ANGELES May 6, 2020 (Thomson StreetEvents) -- Edited Transcript of AECOM earnings conference call or presentation Tuesday, May 5, 2020 at 4:00:00pm GMT TEXT version of Transcript ===== Corporate Participants ===== * Michael S. Burke AECOM - Chairman of the Board & CEO * Randall A. Wotring AECOM - COO * W. Troy Rudd AECOM - Executive VP & CFO * Will … This includes exiting underperforming businesses and markets, optimizing overhead, consolidating our real estate portfolio and expanding the use of best cost design and shared service centers. AECOM Q2 2020 Earnings Call Transcript businesswire. Q3 2019 AECOM Earnings Conference Call. So the stimulus money that might be brought to bear on the states in later in the year will just support the outlook for 2021 and forward. There's a benefit in the year but an additional run rate impact in subsequent years. But we're certainly within the range. The underlying nature of our business, the conversion of earnings to cash is consistent. As we said, we currently have a hiring freeze in place. This performance reflects continued underlying strength in our core transportation and water markets and in our construction management business. But I can't give you a specific time line on that, but the process is continuing. So first of all, in the first half of the year, we had within our guidance, we had predicted a number of the items that have impacted cash flow. Great. Corporate News Date Title . Please turn to slide six. So we won't specifically do that until the fourth quarter. And then just a quick follow-up on the state and local budget situation. I noticed they were not in the slide deck this quarter. Clearly, our financial performance over the past six quarters has been clear that we're delivering on our strategy and we're exceeding all the targets that we've set. We still again look forward and we think that based on the underlying nature of our business and the marketplaces that we're in, that we have the ability to deliver profitable growth into 2021. We have a history of converting EBITDA to cash flow on a fairly consistent basis. And so far, the amount of money that's been that people are willing to spend in Washington on both sides of the aisle through the first round of the CARES Act, it seems like they're willing to throw just about any amount of money to get this economy restarted as soon as possible. Yes. And so that gives you a sense of what we saw. Or is there incremental work to do there? Just to pick up on that last bit of discussion about 2021, I fully recognize that most companies have pulled their 2020 guidance, let alone have anything out there for 2021. And again, as we reach a point where we start to see there'd be some more stability in the marketplace, it becomes just, as I said, a matter of timing where we will return and start buying back stock. Aviation was formerly 1% of our business in CM. AECOM Q2 2010 Earnings Conference Call Transcript – 2010-05-06 – US$ 54.00 – Final Transcript of ACM earnings conference call or presentation, 6-May-10 11:00am ET AECOM at Bank of America Securities Merrill Lynch Industrials Conference Transcript – 2009-12-08 – US$ 54.00 – Final Transcript of ACM presentation, 8-Dec-09 9:00am ET In fact, in Asia, despite the challenges presented, we achieved our profitability target and exceeded our cash flow target for the quarter. This strong liquidity position, combined with our undrawn $1.35 billion revolving credit facility, allows us to operate with certainty. Your line is open. There's not a pinpoint there's not a point in time we could say that's exactly when it's going to happen nor would it be appropriate for us to do that. Prepared Remarks: Operator. And I think it may be the way of working in the future. Zacks Investment Research - 2 months ago. In our Americas and EMEA regions, 90% of our people are working remotely. AECOM (ACM) CEO Mike Burke on Q3 2020 Results - Earnings Call Transcript Zacks Investment Research - 5 months ago Aecom Technology (ACM) Tops Q3 Earnings and Revenue Estimates Edited Transcript of ACM earnings conference call or presentation 5-May-20 4:00pm GMT fool. So again, supporting that bridge, in fact, is having us actually collect beyond what we expected in April, so supporting an improvement in working capital in the second half of the year. So given that we've got four years of backlog in that space, I feel pretty good. Well, New York is yes, New York is one of the things that you look at the big markets. As I look across the company, our strategic and financial position has never been stronger. It wasn't clients weren't willing to wait and see if we could work remotely. Importantly, we still see plenty of opportunity to further expand margins and deliver on our long-term financial objectives. We began aggressively stress-testing and developing mitigation plans in early February. I guess first of all, Steve, is our cadence for providing guidance certainly on the next year is when we get toward the beginning of that year. US stock market today: stock quotes, stock screener, stock charts, insiders trading, market news, portfolio tracking, and cryptocurrencies. These reductions, when achieved, would be equivalent to eliminating the environmental impact of burning nearly 40 million pounds of coal every year. We're highly confident. This is the last quarter of material headwinds to growth related to our storm recovery work. Your next question comes from the line of Jamie Cook with Credit Suisse. So we're not expecting to see a decline. Andy, it's Troy. And we expect that due to their political clout, they will be the primary beneficiaries of any federal stimulus activity that gets directed toward New York. That's probably more like a June or July time frame. AECOM Q4 2009 Earnings Conference Call Transcript. Just trying to get comfortable on the second half ramp, and you guys had mentioned there would be some tailwinds there. Michael Feniger with Bank of America. And the good news is we are not expecting a 10% drop in revenue in any way. Yes. Yes. So we've been active in doing that. And we are, as we indicated, in discussions there to exit that contract. In fact, coming out of this, we are beating our plan in Hong Kong right now despite COVID. So we believe that there'll be opportunities as the market and infrastructure spend starts happening. We've come to the end of our April results, and so where we sit today is we actually have seven months of results. Please turn to slide 10. Right now, we're in a very comfortable liquidity position. Our adjusted operating margin for the second quarter was 5.9%, a 240 basis point increase over the prior year. And our agility as an organization has proven to be a key competitive advantage as we quickly mobilized contingency plans for our people to support our clients in the face of unprecedented change. Well, thank you, everybody, for joining today. So let me kick that off, and then I'll ask Randy to talk about the IT investments we've made because it's been such a big facilitator of this. So we're making progress, and it'll likely be happen in lumps, but we expect to make that happen over the as soon as the market opens up. Okay. In addition, we have recently closed on a $400 million delayed draw term loan. Your next question comes from the line of Adam Thalhimer with Thompson, Davis. It allows NEPA to be performed better, faster, cheaper with greater margins. Your line is open. Nobody is traveling, and that does have the benefit to your P&L. Go ahead, your line is now open. And Jamie, the restructuring actions that we've taken beginning last year and we continue to take this year what those are that's what's driving the margin improvement. So Mike, you just teed it up. Yes. And almost all of the projects that are not operating are paying us our general conditions, which covers our cost on those projects because the clients want to keep our teams at the ready to jump back in when construction is revived. Please turn to slide eight. You've mentioned that given uncertain times, you want to hold on to liquidity, and I think everyone understands that. We will also refer to net service revenue or NSR, which is defined as revenue excluding subcontractor and other direct costs. Thank you for taking my questions. Just, Troy, on the free cash flow bridge, I think I missed a few things. Secondly, the projects that as you heard us say, 80-plus percent of our projects are still operating today. The Management Services business, along with our at-risk, self-perform construction businesses that we intend to exit, are classified as discontinued operations in our financial statements. One, the margins on the international business improved, but not at the targeted range, but it improved nicely sequentially, I guess, year-over-year. But we came into this, we've been working on margin improvement for two years now. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. But that didn't happen overnight. And so we put forth a considerable effort over the past few years to start to diversify that business. First, we deliver primarily knowledge-based critical and essential services. I'll jump in and take that. And then along came the pandemic, and the Board asked and I agreed to stay on and lead us through the crisis and making a rapid change during the crisis was not a good idea. It's all being done in a collaborative way. Finally, I should note that our results in our discontinued operations in the quarter included an approximately $89 million noncash impairment of goodwill and intangible assets on certain oil and gas-related businesses as a result of the dramatic fall in oil prices. Gaurav Kapoor - … So we have done a lot of modeling on those type of questions. You do have the luxury of having a very robust backlog. The construction management business, first of all, it's more diversified today than it's ever been. I also want to highlight another accomplishment this quarter, and that is our recently announced industry-leading emissions reduction targets, which are designed to meet the goals of the Paris Agreement. And there's significant momentum to direct that toward infrastructure activity that we will benefit from. We don't see any slowdown in achieving the margin targets that we set out previously. AECOM (NYSE: ACM) Q3 2019 Earnings Call Aug 6, 2019, 12:00 p.m. The rest of them moved forward. AECOM supports U.S. Army Corps of Engineers' project to deliver an alternate care facility in Colorado to aid the region’s coronavirus pandemic response Yahoo 05/07 06:55 ET Edited Transcript of ACM earnings conference call or presentation 5-May-20 4:00pm GMT Half of that comes from five states that had come into this with very strong stabilization and rainy day funds. This includes a more than $700 billion infrastructure investment program in the U.K., along with approximately $100 billion of stimulus funding in Australia and Hong Kong. So it's a long way of saying we certainly have confidence in the future because of the low single-digit revenue growth the revenue growth we had anticipated. That allowed us to complete the first U.S. ever digital EIS for the U.S. Army Corps of Engineers. And within our Professional Services business, even as we move forward in the subsequent years, we don't see that changing. This was also contemplated in our original guidance. As we look ahead, our capital allocation priorities are as follows. I am also pleased to report that we are continuing to win work at a higher rate. But certainly, we can see, based on the underlying attributes of the business and our confidence in the future, that there is a point in time where we're going to move away and rebalance away from liquidity and toward repurchase. I'm going to try and simplify it and by simply saying that we gave free we gave cash flow guidance at our Investor Day. So all of our employees have videoconferencing capability and extraordinary collaboration tools that allow them to carry on their work. We are also continuing to progress on our plan to exit our remaining self-perform at-risk construction businesses. Mike? Okay. With the completion of the line, we will and removing two combined cycle jobs from our backlog, we'll have exited the combined cycle business. Our discussion of margins will be on an NSR basis unless otherwise noted. ET, Good morning, and welcome to the AECOM Second Quarter 2020 Conference Call. So we're highly confident that we'll be back up to full steam very quickly. But again, as we work our way through the year, our liquidity position will continue to improve. Yes, sorry, I got confused. Free cash flow was a use of $313 million. And kind of what does that tell us to expect elsewhere in the world as we restart? And so when we look at all of those together, it starts to look a little bit like what we saw after the global financial crisis in '07, '08 and '09. The state departments of transportation are asking for about $50 billion of direct funding for transportation in the states. AECOM (ACM) CEO Mike Burke on Q3 2020 Results - Earnings Call Transcript Aug. 4, 2020 at 5:33 p.m. And then in terms of what we're seeing as a result of the pandemic and government stimulus, we haven't planned any of the stimulus into our guidance. We support change in infrastructure, and that is coming and will be accelerated by the impact of the pandemic. I would like to turn the call over to Will Gabrielski, Senior Vice President, Investor Relations. Tuesday, Aug 6, 2019 at 12:00 PM EDT Webcast Presentation. AECOM Technology (NYSE: ACM) Q4 2018 Earnings Conference Call Nov. 12, 2018, 12:00 p.m. I was just wondering, given the state of the markets right now and M&A activity broadly, how realistic is it? I guess then, and my second question, Mike, any color you can give in terms of what's going on with the CEO search? So that's really important. Encouragingly, these programs continue to prioritize investment in critical, large-scale transportation and infrastructure projects. It likely will reduce cost 30% and times more than 50%. But also, we're seeing a number of our government clients actually accelerate some of their payments just to support their economy and to support the people working in those economies. Michael S. Burke -- Chairman and Chief Executive Officer. Your next question comes from the line of Andrew Wittmann with Baird. In Asia, nearly half of our offices were closed, and 90% of our workforce was working remotely at peak. So there may be an impetus to accelerate some of the infrastructure work in the New York area. AECOM (NYSE:ACM) Q4 2020 Earnings Conference Call November 16, 2020 12:00 PM ET. And as we see the market stabilize, we'll become again, we'll become more confident about our ability to deliver against those future numbers. This allows us to quickly respond to changes in the market. I mean it seems like there could be an option to do more share repurchase as there's cash that's coming in even this fiscal year. Cumulative Growth of a $10,000 Investment in Stock Advisor, AECOM (ACM) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $ACM, AECOM (ACM) Q3 2020 Earnings Call Transcript, AECOM (ACM) Q1 2020 Earnings Call Transcript, AECOM (ACM) Q4 2019 Earnings Call Transcript, AECOM (ACM) Q3 2019 Earnings Call Transcript, Copyright, Trademark and Patent Information.
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