央视网消息：北京时间11月24日，意甲联赛第12轮焦点战，国际米兰迎战AC米兰。上半场迈尼昂献神 扑，阿切尔比头球中柱；下半场普利西奇破门，图拉姆造点，恰尔汗奥卢点射被迈尼昂扑出，最终AC 米兰1-0力克国际米兰，在积分榜上反超对手，升至第二位。 责编：李磊、王瑞景 ...

Core Insights - AECOM is focused on continuous improvement to establish itself as an industry leader in infrastructure [2] Group 1 - The company has been working for the past two years to enhance its position in the market [2] - AECOM's leadership team, including the CEO, President, and CFO, is actively engaged in driving the company's strategic initiatives [1] - The emphasis on continuous improvement has been a guiding principle for the organization over the last six years [2]

AECOM (NYSE:ACM) reported mixed fourth-quarter fiscal 2025 results on Tuesday and launched a strategic review of its Construction Management unit.The company reported revenue growth of 2% year over year (Y/Y) to $4.175 billion, missing the consensus of $4.315 billion. Adjusted EPS of $1.36 (+7% Y/Y) beat the consensus of $1.34.Lara Poloni, AECOM's president, said, "The secular megatrends of global investments in infrastructure, in sustainability and resilience, and in meeting growing energy demand have acce ...

AECOM (NYSE:ACM) reported mixed fourth-quarter fiscal 2025 results on Tuesday and launched a strategic review of its Construction Management unit.The company reported revenue growth of 2% year over year (Y/Y) to $4.175 billion, missing the consensus of $4.315 billion. Adjusted EPS of $1.36 (+7% Y/Y) beat the consensus of $1.34.Lara Poloni, AECOM's president, said, "The secular megatrends of global investments in infrastructure, in sustainability and resilience, and in meeting growing energy demand have acce ...

Key Takeaways AECOM topped Q4 earnings and revenue estimates with year-over-year growth across key metrics.Backlog and pipeline hit record highs, with 20 straight quarters of book-to-burn above 1.0.ACM issued FY26 guidance projecting higher EPS and EBITDA and continued strong NSR performance.AECOM (ACM) reported better-than-expected results for fourth-quarter fiscal 2025, where both earnings and revenues surpassed the Zacks Consensus Estimate and grew on a year-over-year basis. However, net service revenues ...

Core Insights - ACM Research, Inc. has delivered its first Ultra Lith Baker system to a leading global display panel manufacturer, addressing challenges in advanced lithography such as process non-uniformity and critical dimension variation [1][3] - The Ultra Lith BK system features industry-leading UV curing uniformity of ±5% and advanced thermal management to enhance yield and process reliability [2][4] Company Overview - ACM Research develops and manufactures semiconductor process equipment, including solutions for cleaning, electroplating, and wafer-level packaging, aimed at improving productivity and product yield for semiconductor manufacturers [6][7] - The Ultra Lith BK integrates six cold plates for temperature uniformity of ±0.1°C and supports a configurable design with up to 32 hotplates, allowing flexibility in process recipes [4][6] Industry Context - The introduction of the Ultra Lith BK marks ACM's entry into the display panel segment, which has high-volume production capabilities and significant expectations for equipment performance [3] - As device geometries shrink, maintaining uniform process control in lithography is essential for consistent yield and device performance, highlighting the importance of innovations like the Ultra Lith BK [3]

Revenue and Profitability - Revenue for the year ended September 30, 2025, was $16,140 million, a slight increase from $16,105 million in 2024, and significantly higher than $14,378 million in 2023, reflecting a growth trend [206] - Gross profit for the year ended September 30, 2025, was $1,217 million, compared to $1,084 million in 2024, indicating a gross margin improvement [206] - The cost of revenue for the year ended September 30, 2025, was $14,923 million, slightly lower than $15,021 million in 2024, contributing to improved profitability [206] - Income from operations for the year ended September 30, 2025, was $1,027 million, up from $827 million in 2024, showcasing operational efficiency [206] - Net income attributable to AECOM for the fiscal year ended September 30, 2025, was $561.8 million, an increase of $159.5 million, or 39.6% compared to $402.3 million for the previous year [229] - Income from continuing operations before taxes for the fiscal year ended September 30, 2025, was $915.6 million, an increase of $197.4 million, or 27.5% compared to $718.2 million for the previous year [229] Business Acquisitions and Restructuring - Two business acquisitions were completed during the year ended September 30, 2025, following one acquisition in 2024, while no acquisitions occurred in 2023 [203] - The company has exited substantially all of its self-perform at-risk construction businesses to improve profitability and reduce risk exposure [201] - Restructuring and acquisition costs for the fiscal year ended September 30, 2025, were $59.4 million, down from $98.9 million in the previous year [241] - The company expects to spend approximately $45 million for restructuring in fiscal 2026 associated with prior restructuring actions [274] Financial Position and Debt - Total debt as of September 30, 2025, was $2,743.7 million, an increase from $2,539.8 million in 2024, with long-term debt at $2,647.2 million [286] - The company entered into a new $1,500 million revolving credit facility and a $750 million term loan A facility on April 19, 2024, maturing in 2029 [287] - The average effective interest rate on total debt was 5.1% for the year ended September 30, 2025, down from 5.6% in 2024 [300] - Scheduled maturities of debt include $66.3 million in 2026 and $761.3 million in 2029 [286] - The company had $1,439.9 million in outstanding borrowings under its term credit agreements and revolving credit facility as of September 30, 2025 [330] Cash Flow and Working Capital - Net cash provided by operating activities was $821.6 million for the year ended September 30, 2025, compared to $827.5 million for the previous year [278] - Net cash used in investing activities increased to $413.2 million for the year ended September 30, 2025, compared to $210.6 million for the previous year, primarily due to cash payments for business acquisitions [279] - Working capital decreased by $119.7 million, or 17.6%, to $801.4 million at September 30, 2025, from $921.1 million at September 30, 2024 [281] - Days Sales Outstanding (DSO) increased to 74 days at September 30, 2025, compared to 70 days at September 30, 2024 [282] Segment Performance - Revenue for the Americas segment increased by $40.2 million, or 0.3%, to $12,525.9 million for the year ended September 30, 2025, compared to $12,485.7 million for the previous year [261] - Gross profit for the Americas segment increased by $123.0 million, or 16.2%, to $882.1 million, with gross profit as a percentage of revenue rising to 7.0% from 6.1% [264] - Revenue for the International segment decreased by $5.2 million, or 0.1%, to $3,613.2 million for the year ended September 30, 2025, compared to $3,618.4 million for the previous year [267] - Gross profit for the International segment increased by $10.3 million, or 3.2%, to $334.1 million, with gross profit as a percentage of revenue increasing to 9.2% from 8.9% [270] Tax and Pension Obligations - The company recorded a reserve of $47.0 million related to uncertain tax positions during fiscal 2025 [246] - Deferred tax assets of $20.1 million were recognized during fiscal 2025 due to legal entity restructuring [247] - The company had an aggregate pension plan deficit of approximately $89.4 million as of September 30, 2025 [304] - The company contributed $2.7 million to multiemployer pension plans for the year ended September 30, 2025 [305] Risk Management and Commitments - The company actively monitors foreign currency exchange rates and interest rate exposure, using derivative financial instruments as necessary to manage these risks [328] - The company has capital commitments of $5.1 million to the AECOM-Canyon Equity Fund over the next three years [316] - As of September 30, 2025, the company was contingently liable for approximately $903.8 million in issued standby letters of credit and $5.6 billion in issued surety bonds [314] - The company had $903.8 million outstanding under standby letters of credit as of September 30, 2025 [303]

Core Insights - Aecom reported stronger-than-expected fourth-quarter adjusted earnings, with adjusted earnings per share at $1.36, slightly above the consensus estimate of $1.34 [1] - Quarterly revenue was $4.18 billion, which fell short of analyst expectations of $4.32 billion, leading to a more than 2% decline in shares intra-day [1] - The company achieved a record segment adjusted operating margin of 17.1%, reflecting a 40-basis-point improvement from the previous year [2] Financial Performance - Net service revenue increased by 8%, driven by a 9% growth in the Americas design division [1] - Adjusted EBITDA rose by 13% to $329 million [2] Future Guidance - For fiscal 2026, Aecom provided guidance for adjusted earnings per share in the range of $5.65 to $5.85, indicating approximately 9% growth at the midpoint [2] - The company raised its quarterly dividend by 19% to $0.31 per share [2]

AECOM (NYSE:ACM) 2025 Investor Day November 18, 2025 10:00 AM ET Company ParticipantsTroy Rudd - CEOMike Feniger - Managing Director of Equity ResearchSaba Khan - Managing Director of Global ResearchNatalia Bak - Equity Research Senior AssociateJose Sulca - Equity Research Associate of US Multi-Industrials and Engineering and ConstructionLara Poloni - PresidentNone - Video NarratorAdam Bubes - VP of Equity ResearchGaurav Kapoor - CFO and COOConference Call ParticipantsMike Dudas - Equity Research Analyst of ...

AECOM 2025 Investor Day THE TRUSTED INFRASTRUCTURE PARTNER TO LOS ANGELES United States With decades of experience in the Los Angeles market, AECOM has been engaged to lead the development of the city's most iconic infrastructure projects, most recently highlighted by the Company's selection as the Official Venue Infrastructure Partner for the LA28 Olympic and Paralympic Games. Disclosures Forward-Looking Statements All statements in this communication other than statements of historical fact are "forward-l ...