In This Story
AECOM (ACM-0.05%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing includes financial statements for the year, showing a revenue increase to $16,105.5 million from $14,378.5 million in the previous year. This growth is attributed to increased investment in global infrastructure programs.
Cost of revenue for the year was $15,021.2 million, representing 93.3% of sales, compared to 93.4% in the previous year. This slight decrease in cost ratio is due to improved delivery efficiencies.
The company reported a gross profit of $1,084.3 million for the year, compared to $945.5 million in the previous year, with the increase attributed to revenue growth and cost management.
Equity in earnings of joint ventures was $2.1 million, compared to a loss of $279.4 million in the previous year, primarily due to lower impairment losses in fiscal 2024.
General and administrative expenses increased to $160.1 million from $153.6 million, primarily due to nonrecurring expenses related to strategic evaluations.
Net income for the year was $460.2 million, up from $100.1 million in the previous year. After accounting for noncontrolling interests, net income attributable to AECOM was $402.3 million, compared to $55.3 million in the previous year.
Cash provided by operating activities was $827.5 million, while cash used in investing and financing activities was $210.6 million and $295.5 million, respectively.
AECOM had a working capital of $802.0 million as of September 30, 2024. The company plans to continue investing in digital capabilities and expanding its enterprise capability centers.
The filing also details various financial agreements, including a new credit agreement with a $1.5 billion revolving credit facility and a $750 million term loan facility.
AECOM continues to focus on providing infrastructure consulting and advisory services, with a significant portion of its revenue derived from government contracts.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AECOM annual 10-K report dated November 19, 2024. To report an error, please email earnings@qz.com.