Group 1: Joint Venture and Project Overview - The joint venture between Jacobs Solutions Inc.'s subsidiary Halcrow and AECOM has entered into a consultancy agreement with the Civil Engineering and Development Department of the Hong Kong government for the San Tin Technopole project [1] - The first phase of the San Tin Technopole involves the development of 250 hectares of land to support innovation, technology, housing, and commercial facilities, with a focus on low-carbon infrastructure and digital strategies [1][2] - The project is expected to provide approximately 54,000 new housing units upon completion, with the first population and business intake anticipated in 2031 [2] Group 2: Jacobs Solutions Performance - Jacobs has seen increased demand for its consulting services across various sectors, leading to a backlog growth from $28.9 billion to $30.6 billion year-over-year [3] - The backlog for Jacobs' People & Places Solutions (P&PS) segment grew from $17.5 billion to $19.28 billion, driven by growth in the Life Sciences and Energy markets [3] - The Critical Mission Solutions backlog also increased from $8.1 billion to $8.45 billion, supported by expansion in the U.K. and U.S. nuclear remediation markets [4] Group 3: Market Trends and Company Outlook - Jacobs' shares have increased by 9.1% over the past three months, outperforming the Zacks Technology Services industry's growth of 4.6% [4] - The company is expected to benefit from global trends in infrastructure modernization, energy transition, national security, and potential super-cycle investments in global supply chains [4] - AECOM has reported solid third-quarter fiscal 2024 results, with earnings exceeding estimates and growth in net service revenues across its segments [6]

AECOM’s (ACM) Portal Connectors team was selected by the Transbay Joint Powers Authority (“TJPA”) for the second phase of the $12 billion Transbay Program in San Francisco.The second phase of the program involves the company offering program management and construction management services for the Downtown Rail Extension project, also named the Portal.The responsibilities of the contract include the successful execution of key activities such as obtaining FTA funding, finalizing the procurement plan in 2024, ...

Investors in AECOM (ACM) need to pay close attention to the stock based on moves in the options market lately. That is because the Sep 20, 2024 $45 Put some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an ev ...

AECOM (ACM) has been appointed as the Lead Designer by the New York State Department of Transportation (“NYSDOT”) for a critical infrastructure project involving the replacement of two aging bridges along the Bronx River Parkway. These bridges, constructed in 1951, are nearing the end of their service lives, and their replacement is crucial to maintaining safety, improving traffic flow, and enhancing resilience along a key commuter route.Supported by more than $200 million in funding from the Infrastructure ...

Monty Rakusen I first wrote about my investment thesis on ACM Research (NASDAQ:ACMR) last month. Unfortunately, ACMR’s stock declined quite a bit along with the market sell-off. However, the fundamentals of the business are better than expected, as evidenced by ACMR’s very strong Q2 2024 results. Both revenue and gross margin topped analysts' estimate. ACMR also announced a major new product for the next generation fan-out panel-level packaging, which allows ACMR to further penetrate the AI market. ACMR ...

SweetBunFactory Overview The stock market suffered a heavy correction in the last month. The S&P500 index was down 6%, but it was especially beaten hard by the semiconductor industry, with the iShares Semiconductor ETF (SOXX) down more than 20%. ACM Research (NASDAQ:ACMR), a company specializing in wafer cleaning equipment, has experienced a decline in stock price of almost 40% (Figure 1). The company beats Q2 estimates and raises its fiscal year guidance: “ACM is increasing its revenue guidance for fis ...

FREMONT, Calif., Aug. 07, 2024 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today reported financial results for its second quarter ended June 30, 2024. "I am pleased with our second quarter results. We delivered record revenue, strong profitability and positive cash flow from operations,” said ACM’s President and Chief Executive Officer, Dr. David Wang. “We are benefiting fr ...

FREMONT, Calif., Aug. 07, 2024 (GLOBE NEWSWIRE) -- ACM Research, Inc. (ACM) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today announced its new Panel Electrochemical Plating (Ultra ECP ap-p) tool designed for fan-out panel-level packaging (FOPLP). This new tool employs a horizontal plating approach achieving exceptional uniformity and precision across the entire panel. “As demands for low latency, high bandwidth and cost ...

Revenue Growth - Total revenue for the three months ended June 30, 2024, was $4,151,251, an increase of 13.4% compared to $3,663,549 for the same period in 2023[6] - Total revenue for the nine months ended June 30, 2024, was $11,995.0 million, an increase from $10,536.1 million for the same period in 2023, representing a growth of approximately 13.8%[38] - Revenue for the three months ended June 30, 2024 increased by $487.6 million, or 13.3%, to $4,151.2 million compared to $3,663.6 million for the same period last year[132] - Revenue for the nine months ended June 30, 2024 increased by $1,458.9 million, or 13.8%, to $11,995.0 million compared to $10,536.1 million for the same period last year[132] - Revenue from discontinued operations for the nine months ended June 30, 2024, was $138.4 million, down from $169.6 million in the same period of 2023, reflecting a decline of approximately 18%[28] Profitability - Gross profit for the nine months ended June 30, 2024, was $790,188, representing a 14.0% increase from $693,160 in the prior year[6] - The company reported a net income of $152,509 for the three months ended June 30, 2024, compared to a loss of $121,299 in the same period last year[6] - Net income for the three months ended June 30, 2024, was $152,509, compared to a net loss of $121,299 for the same period in 2023, representing a significant turnaround[9] - For the nine months ended June 30, 2024, net income was $277,133, a substantial increase from $59,947 in the same period of 2023[9] - Basic earnings per share for the nine months ended June 30, 2024, was $1.69, up from $0.22 in the prior year[6] Assets and Liabilities - Total assets as of June 30, 2024, were $12,046,598, up from $11,233,398 as of September 30, 2023, reflecting a growth of 7.3%[5] - Current liabilities increased to $6,289,644 as of June 30, 2024, from $5,850,283 as of September 30, 2023, marking a rise of 7.5%[5] - Total liabilities increased to $9,547,922 as of June 30, 2024, from $8,849,687 as of September 30, 2023, reflecting a rise of 7.9%[5] - Total stockholders' equity as of June 30, 2024, was $2,498,676, an increase from $2,622,325 as of June 30, 2023[12] - Total debt increased to $2,541.5 million as of June 30, 2024, compared to $2,217.3 million as of September 30, 2023, reflecting a rise of 14.6%[58] Cash Flow - Net cash provided by operating activities increased to $528.7 million for the nine months ended June 30, 2024, compared to $410.8 million in the prior year, reflecting a rise of about 29%[15] - Cash and cash equivalents increased to $1,644,812 as of June 30, 2024, compared to $1,260,206 as of September 30, 2023, indicating a growth of 30.4%[5] - Net cash used in investing activities was $185.9 million for the nine months ended June 30, 2024, compared to $106.5 million for the same period in 2023[173] - Cash and cash equivalents at the end of the period were $1.6 billion, up from $1.3 billion at the end of the previous year, representing an increase of approximately 29%[15] Restructuring and Costs - The company reported restructuring costs of $29,025 for the three months ended June 30, 2024, compared to $9,115 in the same period last year[6] - The company expects to incur restructuring costs of approximately $80 million to $100 million in fiscal 2024, aimed at improving efficiencies and margin[128] - The Company incurred restructuring expenses of $80.7 million during the first nine months of fiscal 2024, compared to $50.5 million in the same period of fiscal 2023[105] Segment Performance - Revenue for the Americas segment for the three months ended June 30, 2024, increased by $417.4 million, or 14.8%, to $3,246.9 million compared to $2,829.5 million in the prior year[154] - Revenue for the International segment for the three months ended June 30, 2024, increased by $69.9 million, or 8.4%, to $904.2 million, driven by growth in the Middle East and Europe[161] - Gross profit for the International segment increased by $13.7 million, or 20.3%, to $81.1 million for the three months ended June 30, 2024, compared to $67.4 million for the same period last year[164] Financial Obligations and Credit Facilities - The company entered into a new $1,500 million revolving credit facility and a $750 million term loan A facility on April 19, 2024, to refinance existing credit facilities and for general corporate purposes[64] - As of June 30, 2024, the Company had $1,495.6 million available under its New Revolving Credit Facility, an increase from $1,145.6 million as of September 30, 2023[69] - The Company had outstanding standby letters of credit totaling $909.4 million as of June 30, 2024, compared to $878.9 million as of September 30, 2023[73] Tax and Compliance - The Company's effective tax rate decreased to 23.6% for the nine months ended June 30, 2024, from 29.9% in the same period of 2023[86] - The Company is currently undergoing tax audits in several jurisdictions, including the U.S., with federal income tax returns for fiscal years 2017 through 2020 being examined by the IRS[89] - The Company expects potential adjustments to its tax liabilities related to uncertain tax positions within the next twelve months due to ongoing audits[89]

AECOM (NYSE:ACM) Q3 2024 Earnings Conference Call August 6, 2024 8:00 AM ET Company Participants Will Gabrielski - Senior Vice President, Finance, Treasury & Investor Relations Troy Rudd - Chief Executive Officer Lara Poloni - President Gaurav Kapoor - Chief Financial Officer & Chief Operations Officer Conference Call Participants Andrew Wittmann - Baird Jamie Cook - Truist Securities Sangita Jain - KeyBanc Capital Markets Andrew Kaplowitz - Citigroup Michael Dudas - Vertical Research Operator Good morning ...