AECOM

https://www.aecom.com

AECOM is an American multinational infrastructure consulting firm, headquartered in Dallas, Texas, committed to its mission "to deliver a better world." The company relocated its global headquarters from Los Angeles, California, to Dallas in October 2021.

The firm provides a comprehensive range of professional services across the entire project lifecycle, including advisory, architecture and design, urban planning, landscape architecture, asset management, construction management, engineering, environmental services, IT and cybersecurity, and program management. AECOM serves diverse market segments such as transportation, facilities, water, environmental, energy, cities, healthcare, and national governments.

Led by Chairman and CEO Troy Rudd, AECOM is recognized as a world's trusted infrastructure consulting firm. The company was named the top design firm and ranked #1 in general building, transportation, and water by Engineering News-Record in 2025, and has been recognized as one of Fortune magazine's "World's Most Admired Companies" for eleven consecutive years. Recent notable projects include securing a position on the U.S. Missile Defense Agency's $151 billion SHIELD contract, playing a role in the UK's £200 million fusion power plant project, and overseeing the New York City sewer tunnel project. In 2025, AECOM expanded its capabilities by acquiring the Norway-based artificial intelligence startup Consigli. The company also declared a quarterly cash dividend of $0.31 per share, payable in April 2026.

Latest updates

AECOM Wins $16.1B Environmental Services Contract from USACE Baltimore District

Event summary

  • AECOM was awarded a multiple-award environmental services contract by the U.S. Army Corps of Engineers (USACE) Baltimore District.
  • The contract vehicle enables AECOM to deliver environmental remediation solutions, focusing on hazardous contaminant reduction.
  • The contract covers a wide range of remediation services across the contiguous United States, Hawaii, Alaska, and Puerto Rico.
  • AECOM’s selection highlights its expertise in PFAS remediation and integration of diverse technical expertise.
  • AECOM reported $16.1 billion in revenue for fiscal year 2025.

The big picture

This contract win underscores the growing demand for environmental remediation services, particularly related to PFAS contamination, driven by stricter regulations and increased public awareness. As a $16.1 billion infrastructure leader, AECOM’s success in securing this USACE contract demonstrates its position within a market experiencing significant regulatory and remediation pressures. The contract's geographic scope highlights the widespread need for these services across the United States.

What we're watching

Contract Visibility
The actual value of the contract remains undisclosed, and tracking the awarded task orders will be crucial to assess AECOM’s revenue realization and project margins.
PFAS Expansion
How AECOM’s PFAS practice expands beyond this contract and contributes to overall revenue growth will indicate the success of its strategic focus.
Technological Integration
The effectiveness of AECOM’s integration of advanced technologies like predictive modeling in delivering solutions will influence its competitive advantage and project efficiency.

AECOM Schedules Q2 2026 Earnings Release, Conference Call

Event summary

  • AECOM will release its second quarter fiscal 2026 earnings results on May 11, 2026, after the U.S. market close.
  • A conference call and webcast for analysts and investors is scheduled for May 12, 2026, at 8:00 AM Eastern Time.
  • The earnings release will include financial results, an outlook, strategic accomplishments, and market trends.
  • AECOM reported $16.1 billion in revenue for fiscal year 2025.

The big picture

AECOM's upcoming earnings release will provide insight into the health of the global infrastructure market. As a $16.1 billion revenue firm, AECOM's performance is a bellwether for broader trends in construction, engineering, and government spending. The conference call will be particularly important for assessing management's outlook on project demand and potential headwinds.

What we're watching

Project Pipeline
The commentary around the project pipeline will be crucial, given ongoing macroeconomic uncertainty and potential impacts on infrastructure spending.
Margin Pressure
Whether AECOM can maintain or improve margins given inflationary pressures and potential supply chain disruptions will be a key indicator of operational efficiency.
Geopolitical Risk
The company's exposure to international markets will likely be scrutinized, given the increasing geopolitical risks and their potential impact on project execution and profitability.

AECOM Invests in AI Infrastructure Talent via SMU Partnership

Event summary

  • AECOM and Southern Methodist University (SMU) have established a strategic partnership focused on AI-driven infrastructure research and talent development.
  • The partnership includes a doctoral fellowship program within SMU’s Lyle School of Engineering, supporting PhD and Doctor of Engineering candidates.
  • The program will co-mentor fellows with SMU faculty and AECOM technical leaders on commercially relevant engineering challenges.
  • The partnership is governed by a joint advisory board to ensure alignment with industry demands and academic rigor.
  • The announcement occurred at the Industry Innovation Summit 2026, led by Lara Poloni, Janne Aas Jakobsen, Dr. Nader Jalili, Dr. Amin Salehi-Khojin, and Dr. Usama El Shamy.

The big picture

AECOM's investment in AI talent reflects a broader trend among infrastructure firms to leverage advanced technologies to improve efficiency, resilience, and sustainability. The partnership with SMU signals a shift towards more formalized, university-industry collaborations to address the growing skills gap in the engineering sector, particularly in areas like AI and data analytics. With $16.1 billion in revenue, AECOM’s commitment to this area could set a precedent for other firms seeking to build a pipeline of AI-ready engineers.

What we're watching

Talent Pipeline
The success of AECOM’s broader strategy hinges on the ability to translate the fellowship program’s output into a tangible increase in AI-skilled engineers within the company’s workforce, and whether the program can attract top-tier candidates.
Academic Independence
The partnership’s commitment to preserving SMU’s academic independence and publishable research will be a key indicator of its long-term viability and the quality of the research produced; a shift towards proprietary research could damage the program’s credibility.
Commercialization
The effectiveness of the partnership will depend on AECOM’s ability to successfully integrate the research and solutions developed by the fellows into its commercial offerings and client projects.

AECOM Secures SDUSD Contract Extension, Bolstering Infrastructure Services Portfolio

Event summary

  • AECOM has been selected to continue serving as a prime consultant for the San Diego Unified School District’s capital bond programs.
  • The contract builds on a decades-long partnership, spanning nearly 25 years.
  • The program encompasses new classrooms, safety upgrades, and sustainability improvements.
  • AECOM is collaborating with 12 local and small business partners on the project.

The big picture

This contract extension reinforces AECOM’s position as a key player in the public infrastructure sector, particularly within the education space. The SDUSD partnership, spanning a quarter-century, demonstrates AECOM’s ability to secure long-term engagements through consistent performance. With $16.1 billion in revenue in fiscal year 2025, this contract, while not material on its own, contributes to AECOM’s broader strategy of leveraging its program management expertise to secure large-scale public projects.

What we're watching

Financial Impact
The value of this contract extension, while not disclosed, will contribute to AECOM’s revenue stream and should be monitored alongside overall backlog growth to assess the impact on future earnings.
Partner Dynamics
The continued involvement of 12 local and small business partners suggests a collaborative approach; tracking their performance and potential for expansion within AECOM’s network will be key.
Political Risk
Future SDUSD capital bond programs and AECOM’s eligibility for them will be influenced by local elections and shifting priorities within the district, requiring ongoing political risk assessment.

AECOM Secures $151 Billion Missile Defense Contract

Event summary

  • AECOM was awarded a position on the U.S. Missile Defense Agency’s Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) contract.
  • The SHIELD contract has a ceiling of $151 billion, structured as an indefinite-delivery/indefinite-quantity agreement.
  • The contract covers a broad range of professional services, including facility modernization and support for operational readiness.
  • AECOM’s revenue in fiscal year 2025 was $16.1 billion.

The big picture

The SHIELD contract represents a significant win for AECOM, solidifying its position as a key provider of infrastructure services to the U.S. government. The indefinite-delivery/indefinite-quantity structure suggests a long-term commitment from the Missile Defense Agency, but also introduces uncertainty regarding the ultimate value of the award. This contract underscores the growing importance of defense spending in AECOM’s revenue mix, which could be subject to geopolitical volatility.

What we're watching

Contract Execution
The sheer scale of the SHIELD contract ($151 billion) presents significant execution risk for AECOM; monitoring project margins and potential cost overruns will be crucial.
Competition Dynamics
Given the contract's size and scope, AECOM will likely face intense competition for task orders; assessing their win rate and pricing strategy will be important indicators of success.
Political Risk
The contract's reliance on continued government funding exposes AECOM to potential political shifts and budget cuts; tracking legislative developments related to missile defense will be necessary.

AECOM Maintains Ethical Reputation Amid Infrastructure Project Scrutiny

Event summary

  • AECOM has been recognized as one of the World’s Most Ethical Companies for the tenth time, marking six consecutive years of this recognition.
  • The award is based on Ethisphere’s Ethics Quotient®, which assesses over 240 documented proof points related to ethics and compliance.
  • AECOM’s Code of Conduct training has 100% employee completion, and the company cites industry-leading safety metrics.
  • AECOM reported $16.1 billion in revenue for fiscal year 2025.

The big picture

AECOM’s consistent recognition as one of the World’s Most Ethical Companies provides a valuable reputational shield, particularly given the increasing public and regulatory scrutiny of large-scale infrastructure projects and the potential for corruption or ethical lapses. This reputation is a key asset as AECOM competes for increasingly complex and politically sensitive contracts globally, where ethical considerations are often a deciding factor. The company’s $16.1 billion revenue underscores the scale of operations where these ethical practices are being applied.

What we're watching

Governance Dynamics
Continued ethical recognition may become increasingly scrutinized as AECOM undertakes larger, more complex infrastructure projects, requiring heightened transparency and accountability.
Regulatory Headwinds
The stringency of Ethisphere’s assessment and the associated Ethics Quotient® could tighten, potentially impacting AECOM’s future eligibility and necessitating ongoing program enhancements.
Execution Risk
While a strong ethical framework is beneficial, it doesn’t guarantee project success; AECOM’s ability to translate ethical principles into operational efficiency and project delivery will be critical for sustained performance.

AECOM Secures Key Role in UK’s £200M Fusion Prototype Program

Event summary

  • AECOM, as part of the ILIOS consortium, has been appointed Construction Partner for the initial £200 million phase of the UK’s Spherical Tokamak for Energy Production (STEP) program.
  • The STEP program aims to build a prototype fusion power plant at West Burton in Nottinghamshire, targeting commercial viability by 2040.
  • The project, sponsored by the UK Government’s Department for Energy Security and Net Zero, has a potential total value of up to £10 billion across future phases.
  • ILIOS is led by a Kier Nuvia joint venture, with AECOM, Turner & Townsend, and AL_A providing specialist support.

The big picture

The UK’s STEP program represents a significant investment in fusion energy, a technology poised to become a critical component of future low-carbon energy systems. AECOM’s involvement, valued at £200 million initially with potential for £10 billion, underscores the growing demand for specialized engineering and construction services in the nascent fusion sector. This project positions AECOM to capitalize on the long-term growth potential of fusion energy, but also exposes them to the inherent risks associated with pioneering a complex and capital-intensive technology.

What we're watching

Funding
Whether the program secures the full £10 billion in funding over its lifecycle will be crucial for AECOM’s long-term revenue stream and exposure.
Technology Risk
The success of the STEP program hinges on overcoming significant technological hurdles inherent in fusion power generation, which could impact project timelines and costs.
Geopolitical
The UK’s commitment to fusion energy, and AECOM’s involvement, may be influenced by broader geopolitical shifts and energy security concerns.

AECOM Secures $1 Billion Seattle Transit Contract Suite

Event summary

  • AECOM has been awarded multiple-award task order contracts (MATOCs) by Sound Transit for design, environmental, and project management services.
  • The contracts, spanning five years, are expected to generate $1 billion in engineering services.
  • AECOM will serve as the prime firm on the Design MATOC and a subconsultant on the Environmental MATOC.
  • The contracts cover light rail, commuter rail, and bus network expansion and upgrades across the Seattle metropolitan region.

The big picture

This $1 billion contract suite represents a significant win for AECOM, reinforcing its position as a leading provider of infrastructure services. The Seattle region's rapid population growth and commitment to public transportation create a sustained demand for engineering and construction expertise. However, the fragmented nature of the MATOC structure and the reliance on public funding introduce inherent risks that require careful management.

What we're watching

Execution Risk
Successfully managing multiple MATOCs simultaneously will be critical for AECOM, as scope creep and coordination challenges are common in large-scale transit projects. Delays or cost overruns could impact future bidding opportunities.
Competition
With 19 MATOCs awarded to multiple firms, the competitive landscape is intense. AECOM's ability to differentiate its services and maintain margins will be key to long-term success.
Funding Stability
The long-term viability of the Seattle-area transit expansion hinges on continued public funding. Any shifts in political priorities or economic downturns could jeopardize project timelines and AECOM’s contracted revenue.

AECOM Wins Design Contract for $11 Billion Sydney Metro West

Event summary

  • AECOM, in a joint venture with WSP, secured a contract to provide detailed design services for the Sydney Metro West Line Wide Systems package.
  • The project, led by John Holland, is valued at approximately $11 billion and aims to double rail capacity between Parramatta and Sydney CBD.
  • The scope of work includes design for a 24-kilometer twin-bore tunnel fit-out, a new metro train depot, and critical rail systems.
  • AECOM will leverage digital technologies, including automated modeling, to manage the complex design and integration across the network.

The big picture

The Sydney Metro West project underscores the ongoing investment in Australian infrastructure to support population growth and urbanization. AECOM's win highlights its position as a key player in the global rail infrastructure market, benefiting from a secular trend toward increased public transportation spending. The project's reliance on advanced digital technologies reflects a broader shift within the engineering sector towards data-driven design and construction processes.

What we're watching

Execution Risk
The complexity of the project, involving a joint venture and extensive digital integration, presents execution risks that could impact AECOM’s margins and timeline.
Competitive Landscape
Further contract awards for Sydney Metro West and other Australian infrastructure projects will reveal the intensity of competition and AECOM's pricing power within the region.
Digital Adoption
The success of AECOM’s digital delivery approach on this project will influence its adoption rate on future projects and potentially become a differentiator in securing new work.

AECOM Claims 12th Consecutive Fortune 'Most Admired' Spot Amidst Strategic Shifts

Event summary

  • AECOM has been recognized as one of Fortune’s Most Admired Companies for the twelfth consecutive year.
  • The company reported an 80% win rate on its largest project pursuits.
  • AECOM has launched an Advisory organic growth platform to expand consulting services.
  • Employee pulse surveys indicate 79% of AECOM employees would recommend the company as a great place to work.
  • AECOM has launched an AI for Engineering platform and a proprietary large language model called Oscar.

The big picture

AECOM’s consistent recognition on Fortune’s list, coupled with its strategic initiatives, underscores its position as a dominant player in the global infrastructure market. The company’s focus on advisory services and AI integration signals a shift towards higher-value, technology-driven solutions, reflecting a broader industry trend towards digitalization and specialized expertise. This recognition, however, doesn't guarantee continued success and hinges on effective execution of these new strategies.

What we're watching

Execution Risk
Maintaining an 80% win rate on large pursuits will be crucial for AECOM to sustain its growth trajectory, and any slowdown could impact future revenue projections.
AI Integration
The success of AECOM’s AI for Engineering platform and large language model, Oscar, will determine its ability to differentiate itself and improve operational efficiency within the competitive infrastructure landscape.
Employee Retention
While current employee satisfaction is high, AECOM must proactively manage its talent pool to avoid attrition and ensure continued productivity, especially given the competitive labor market for skilled infrastructure professionals.

AECOM Schedules Q1 2026 Earnings Release, Conference Call

Event summary

  • AECOM will release its Q1 fiscal 2026 earnings results after market close on February 9, 2026.
  • A conference call and webcast for analysts and investors is scheduled for February 10, 2026, at 8:00 AM ET.
  • Management will discuss financial results, outlook, strategic accomplishments, and market trends during the call.
  • AECOM reported $16.1 billion in revenue for fiscal year 2025.

The big picture

AECOM's upcoming earnings call will provide insight into the performance of the global infrastructure sector, which is currently influenced by government spending initiatives and supply chain challenges. As a $16.1 billion revenue firm, AECOM's results are a bellwether for the broader industry. The call will be scrutinized for any indications of project delays, cost overruns, or shifts in the company's strategic priorities.

What we're watching

Project Pipeline
The success of AECOM's strategic accomplishments will hinge on the continued flow of new infrastructure projects, particularly given macroeconomic uncertainties.
Cost Management
Whether AECOM can maintain profitability will depend on its ability to manage rising costs and inflationary pressures within the construction and engineering sectors.
Geopolitical Risk
The company's global operations expose it to geopolitical risks, and the pace at which these risks materialize will affect project timelines and profitability.

AECOM Secures Preferred Bidder Status for £Multi-Billion Scottish Water Alliance

Event summary

  • AECOM has been named a preferred bidder for Scottish Water’s Enterprise Alliance, a program valued up to £multi-billion.
  • The Enterprise Alliance spans 2027-2033, with potential extension to 2041.
  • AECOM will serve as one of two Primary Designers, responsible for design across the investment program.
  • The program represents the highest-value venture ever initiated by Scottish Water.

The big picture

This award underscores AECOM’s strategic focus on securing large-scale infrastructure projects within the UK, a market undergoing significant modernization. The Enterprise Alliance’s enterprise-style delivery model signals a shift towards more collaborative and outcome-based contracting within the water sector, potentially setting a precedent for future projects. The deal’s size positions it as a significant contributor to AECOM’s $16.1 billion annual revenue and reinforces its position as a leading player in the global water infrastructure design market.

What we're watching

Financial Impact
The final contract value and AECOM’s profit margins will be key indicators of the deal’s financial contribution, given the program’s substantial scale and potential for extension.
Execution Risk
Successful delivery of the Enterprise Alliance will hinge on AECOM’s ability to collaborate effectively with Scottish Water and manage the complexities of a long-term, multi-billion-pound infrastructure program.
Competitive Landscape
The identity and performance of the other Primary Designer will influence AECOM’s workload and pricing power throughout the program’s duration.

AECOM Secures $7.1 Billion Brisbane 2032 Games Infrastructure Contract

Event summary

  • AECOM, in a joint venture called Unite32 with Laing O’Rourke, has been selected as the Delivery Partner for Brisbane 2032 Olympic and Paralympic Games infrastructure.
  • The contract covers approximately US$5 billion (AU$7.1 billion) in infrastructure and venue projects.
  • Unite32 has been involved in seven Olympic and Paralympic Games programs since London 2012.
  • AECOM’s revenue for fiscal year 2025 was $16.1 billion.

The big picture

This contract represents a significant win for AECOM, solidifying its position as a key player in large-scale infrastructure projects. The Brisbane 2032 Games provide a platform for AECOM to showcase its capabilities and potentially secure further work in the region. However, the project’s size and complexity also expose AECOM to considerable risk, requiring meticulous project management and stakeholder coordination to avoid cost overruns and delays.

What we're watching

Execution Risk
The sheer scale of the project and the joint venture structure introduce significant execution risk, particularly given the history of cost overruns in mega-infrastructure projects. Successful delivery will hinge on Unite32’s ability to coordinate diverse teams and manage complex logistics.
Political Scrutiny
As a public-funded project, Unite32 will face intense political scrutiny and potential for changes in scope or budget, especially given the current economic climate and potential for shifting government priorities.
Margin Pressure
The competitive bidding process and potential for cost escalation could put pressure on AECOM’s margins, requiring careful cost management and risk mitigation strategies throughout the project lifecycle.

AECOM Secures $10B+ OASIS+ Contract for Federal Services

Event summary

  • AECOM was awarded a position on the GSA OASIS+ contract.
  • The OASIS+ contract allows AECOM to provide integrated services including architectural/engineering design, environmental remediation, and advisory services.
  • OASIS+ is a government-wide contract program with a 10-year performance window and no contract ceiling.
  • AECOM's revenue for fiscal year 2025 was $16.1 billion.

The big picture

The OASIS+ contract represents a significant opportunity for AECOM, providing access to a potentially vast pool of federal government work. The contract's structure, with its 10-year window and uncapped value, underscores the government's push for flexible and efficient procurement of professional services. Securing this position strengthens AECOM’s position as a key infrastructure provider to the U.S. government, particularly as infrastructure spending remains a priority.

What we're watching

Contract Utilization
The speed at which AECOM can secure task orders under the OASIS+ vehicle will be a key indicator of its ability to capitalize on the opportunity, and whether it can meaningfully impact revenue growth.
Competitive Landscape
The contract's lack of a ceiling suggests intense competition; AECOM’s ability to differentiate its offerings and win share will be crucial for maximizing returns.
Execution Risk
Delivering integrated services across diverse federal agencies presents execution challenges; AECOM’s project management capabilities will be tested to ensure timely and cost-effective delivery.
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