Financial Highlights - AECOM's Segment Adjusted EBITDA reached $290 million, a 15% year-over-year increase[8] - The company's Adjusted EPS was $1.27, representing a 26% year-over-year growth[8] - Free Cash Flow amounted to $275 million, a 4% increase compared to the previous year[8] - AECOM returned approximately $560 million to shareholders through repurchases and dividends in fiscal year 2024[10,30] Guidance and Growth - The company anticipates Net Service Revenue growth of 5-8% for fiscal year 2025[13] - AECOM projects Adjusted EBITDA to be between $1.17 billion and $1.21 billion, a 9% increase[14] - Adjusted EPS is expected to be in the range of $5.00 to $5.20, reflecting a 13% growth[15] - The company expects Free Cash Flow conversion to exceed 100% in fiscal year 2025[16] Strategic Achievements - AECOM's design backlog grew by 5%[10] - The company's pipeline increased by 10% to reach a record high[10] - Program Management net service revenue increased 20% in fiscal year 2024[21]

Core Viewpoint - AECOM is expected to report strong earnings growth in its upcoming fourth quarter results, with analysts projecting an increase in both earnings per share and revenue compared to the previous year [2]. Financial Performance - Analysts anticipate AECOM will report quarterly earnings of $1.25 per share, up from $1.01 per share in the same period last year [2]. - The company is projected to report quarterly revenue of $4.12 billion, compared to $3.84 billion a year earlier [2]. Recent Developments - On October 31, AECOM was awarded a $90 million single-award task order for the G7 Partnership for Global Infrastructure and Investment [2]. - AECOM shares experienced a slight decline of 0.3%, closing at $106.93 on Friday [2]. Analyst Ratings - Keybanc analyst Sangita Jain maintained an Overweight rating and raised the price target from $115 to $122 on November 7 [2]. - Citigroup analyst Andrew Kaplowitz maintained a Buy rating and increased the price target from $110 to $128 on October 22 [2]. - Truist Securities analyst Jamie Cook maintained a Buy rating and raised the price target from $108 to $119 on October 4 [2]. - Baird analyst Andrew Wittmann maintained an Outperform rating and boosted the price target from $96 to $100 on August 7 [2]. - RBC Capital analyst Arthur Nagorny maintained an Outperform rating and increased the price target from $112 to $113 on August 7 [2]. Consensus Price Target - AECOM has a consensus price target of $106.08 based on the ratings of 11 analysts, with the highest target being $128 from Citigroup on October 22, 2024 [2].

Financial Performance - Fourth quarter revenue increased 7% to $4.1 billion, operating income increased 194% to $236 million, net income increased 396% to $168 million, and diluted earnings per share increased 421% to $1.25[4] - Full year revenue increased 12% to $16.1 billion, operating income increased 155% to $827 million, net income increased 343% to $506 million, and diluted earnings per share increased 358% to $3.71[4] - Full year net service revenue (NSR) reached an all-time high of $7.165 billion, with 7% growth year-over-year[3][4] - Adjusted EBITDA margin was 16.7% in the fourth quarter and 16.0% for the full year, reflecting increases of 140 basis points and 100 basis points, respectively[4] - Free cash flow for the full year reached a new high of $708 million, a 20% increase from the prior year, representing 10% of net service revenue[8][11] - AECOM's revenue for fiscal year 2024 was $16.1 billion, representing a 12.0% increase compared to the previous year[26][33] - Net income attributable to AECOM for the twelve months ended September 30, 2024, was $402.3 million, a 627.0% increase year-over-year[33] - Gross profit for the twelve months ended September 30, 2024, was $1.08 billion, up 14.7% from the previous year[33] - Income from continuing operations before taxes for the twelve months ended September 30, 2024, was $718.2 million, a 236.5% increase year-over-year[33] - Basic earnings per share for the twelve months ended September 30, 2024, were $2.97, a 642.5% increase year-over-year[33] - Diluted earnings per share for the twelve months ended September 30, 2024, were $2.95, a 656.4% increase year-over-year[33] - Revenue for the three months ended September 30, 2024, totaled $4,110.5 million, with Americas contributing $3,161.5 million and International contributing $948.4 million[38] - Gross profit for the three months ended September 30, 2024, was $294.2 million, with a gross profit margin of 7.2%[38] - Net service revenue for the three months ended September 30, 2024, was $1,812.1 million, with Americas contributing $1,057.4 million and International contributing $754.1 million[41] - Revenue for the twelve months ended September 30, 2024, totaled $16,105.5 million, with Americas contributing $12,485.7 million and International contributing $3,618.4 million[38] - Gross profit for the twelve months ended September 30, 2024, was $1,084.3 million, with a gross profit margin of 6.7%[38] - Net service revenue for the twelve months ended September 30, 2024, was $7,165.0 million, with Americas contributing $4,204.6 million and International contributing $2,959.0 million[41] - Income from operations for the three months ended September 30, 2024, was $236.4 million, with Americas contributing $203.4 million and International contributing $94.5 million[38] - Income from operations for the twelve months ended September 30, 2024, was $827.4 million, with Americas contributing $774.6 million and International contributing $337.4 million[38] - Net income attributable to AECOM from continuing operations for the twelve months ended Sep 30, 2024 was $505.9 million, compared to $114.1 million for the same period in 2023[53] - Adjusted net income attributable to AECOM from continuing operations for the twelve months ended Sep 30, 2024 was $616.9 million, compared to $519.6 million for the same period in 2023[53] - Adjusted EBITDA for the twelve months ended Sep 30, 2024 was $1,094.8 million, compared to $963.9 million for the same period in 2023[54] - Americas segment income from operations for the twelve months ended Sep 30, 2024 was $774.6 million, compared to $714.6 million for the same period in 2023[57] - International segment income from operations for the twelve months ended Sep 30, 2024 was $337.4 million, compared to $254.7 million for the same period in 2023[57] - Total segment income from operations (excluding ACAP and G&A) for the twelve months ended Sep 30, 2024 was $1,112.0 million, compared to $969.3 million for the same period in 2023[57] Backlog and Cash Flow - Total backlog increased 3% to a new record of $23.863 billion, with design backlog increasing by 5%[3][4] - Total backlog as of September 30, 2024, was $23,863.0 million, with Americas contributing $17,436.3 million and International contributing $6,426.8 million[38] - Total backlog – Design only as of September 30, 2024, was $22,556.9 million, with Americas contributing $16,130.1 million and International contributing $6,426.8 million[38] - Free cash flow for the three months ended September 30, 2024, was $274.6 million, up from $262.9 million in the same period last year[42] Financial Position - Total cash and cash equivalents as of September 30, 2024, were $1.58 billion, up from $1.26 billion the previous year[35] - Accounts receivable and contract assets – net increased to $4.60 billion as of September 30, 2024, from $4.07 billion the previous year[35] - Total debt, excluding unamortized debt issuance costs, was $2.54 billion as of September 30, 2024, compared to $2.22 billion the previous year[35] - Working capital significantly increased to $802.0 million as of September 30, 2024, from $319.2 million the previous year[35] - Total debt increased to $2,539.9 million as of September 30, 2024, compared to $2,217.3 million in the same period last year[42] - Net debt stood at $959.0 million as of September 30, 2024, slightly higher than $957.1 million in the previous year[42] Guidance and Forecast - Fiscal 2025 guidance includes organic NSR growth of 5% to 8%, adjusted EBITDA of $1.170 billion to $1.210 billion, and adjusted EPS of $5.00 to $5.20[9] - GAAP EPS guidance for 2025 is $4.96 to $5.16[59] - Adjusted EPS guidance for 2025 is $5.00 to $5.20, excluding amortization of intangible assets ($0.01), deferred financing fees ($0.04), and tax effects ($0.01)[59] - GAAP net income from continuing operations guidance for 2025 is $724M to $743M[59] - Adjusted net income attributable to AECOM from continuing operations for 2025 is $670M to $698M, excluding amortization of intangible assets ($2M), deferred financing fees ($5M), and tax effects ($1M to $2M)[59] - Adjusted EBITDA guidance for 2025 is $1,170M to $1,210M, excluding depreciation ($160M), adjusted interest expense ($129M), and tax expense ($211M to $223M)[59] - GAAP interest expense guidance for 2025 is $169M, with adjusted net interest expense guidance at $129M after excluding finance charges ($5M) and interest income ($35M)[62] - GAAP income tax expense guidance for 2025 is $210M to $221M, with adjusted income tax expense guidance at $211M to $223M after including tax effects of adjusting items ($1M to $2M)[62] Segment Performance - The Americas segment revenue increased 8% to $3.2 billion in the fourth quarter, with full-year revenue up 14% to $12.5 billion[15] - International segment revenue increased 5% to $948 million in the fourth quarter, with full-year revenue up 6% to $3.6 billion[17] Shareholder Returns - The company increased its share repurchase authorization to $1 billion and raised its quarterly dividend by 18% to $0.26 per share[5][11] Adjustments and Non-Core Items - Adjusted income from operations for the three months ended September 30, 2024, was $261.5 million, compared to $224.7 million in the same period last year[47] - Adjusted EBITDA with noncontrolling interests (NCI) for the three months ended September 30, 2024, was $303.1 million, up from $265.7 million in the same period last year[47] - Adjusted income from continuing operations before taxes for the three months ended September 30, 2024, was $235.1 million, compared to $202.4 million in the same period last year[47] - Adjusted income tax expense for continuing operations for the three months ended September 30, 2024, was $48.1 million, compared to $47.6 million in the same period last year[46] - Adjusted net income attributable to noncontrolling interests from continuing operations for the three months ended September 30, 2024, was $(14.7) million, compared to $(13.8) million in the same period last year[48] - Restructuring costs for the twelve months ended Sep 30, 2024 were $99.0 million, compared to $188.5 million for the same period in 2023[54] - Amortization of intangible assets for the twelve months ended Sep 30, 2024 was $18.7 million, compared to $18.5 million for the same period in 2023[57] - Noncore AECOM Capital loss (income), net of NCI for the twelve months ended Sep 30, 2024 was $40.5 million, compared to $315.8 million for the same period in 2023[54] - Weighted average shares outstanding - diluted for the twelve months ended Sep 30, 2024 was 136.5 million, compared to 140.1 million for the same period in 2023[53]

Core Insights - Acoramidis shows significant early and sustained clinical benefits in patients with ATTR-CM, with a 36% reduction in All-Cause Mortality (ACM) at Month 36 and 46% reduction in composite ACM and recurrent cardiovascular-related hospitalizations (CVH) at Month 36 [1][2][5] Group 1: Clinical Study Results - The ATTRibute-CM study demonstrated the earliest known time to separation in cardiovascular outcomes at 3 months, with a 36% risk reduction in ACM at Month 36 [1][2] - Continuous treatment with acoramidis resulted in a statistically significant 34% reduction in ACM by Month 42 and a 50% reduction in cumulative frequency of CVH at Month 30 [2][4] - Evidence suggests early intervention with acoramidis leads to sustained benefits, with significant reductions in composite ACM and CVH of 46% at Month 36 and 48% at Month 42 [1][2] Group 2: Regulatory and Market Developments - A New Drug Application for acoramidis is under review by the FDA, with a PDUFA action date set for November 29, 2024 [1][5] - BridgeBio has also submitted a Marketing Authorization Application to the European Medicines Agency, with a decision expected in 2025 [5] - The company has granted exclusive rights to Bayer for the commercialization of acoramidis in Europe [5] Group 3: Company Overview - BridgeBio Pharma focuses on developing transformative medicines for genetic diseases, with a commitment to applying advances in genetic medicine [6] - The company was founded in 2015 and aims to deliver innovative treatments as quickly as possible [6]

Core Viewpoint - AECOM is expected to report strong earnings for the fourth quarter of fiscal 2024, driven by organic growth initiatives and restructuring efforts aimed at improving profitability and reducing costs [4][5]. Financial Performance - In the last reported quarter, AECOM's earnings exceeded the Zacks Consensus Estimate by 3.6% and increased by 23% year over year, with net sales growing by 13% year over year [2]. - The Zacks Consensus Estimate for earnings per share for the upcoming quarter is stable at $1.22, indicating a 20.8% increase from the previous year's $1.01 [3]. Segment Performance - The Zacks Consensus Estimate for sales in the Americas segment is $1.09 billion, up from $1 billion in the year-ago period, while the International segment sales are estimated at $759 million, an increase from $722.4 million [7]. - The estimated operating income for the Americas segment is $210 million, up from $186.2 million year over year, and for the International segment, it is pegged at $86 million, an increase from $71.9 million [8]. Strategic Initiatives - AECOM's "Think and Act Globally" strategy, along with a strong design backlog and pipeline of opportunities, continues to support its growth [5]. - The company's focus on Environmental, Social, and Governance (ESG) factors is positively impacting demand for its technical, advisory, and program management services [6].

Core Viewpoint - ACM Research, Inc. reported strong financial results for Q3 2024, highlighting record revenue, profitability, and positive cash flow, while also raising its revenue outlook for the fiscal year 2024 [2][5]. Financial Performance - Revenue for Q3 2024 was $204.0 million, a 21% increase from $168.6 million in Q3 2023 [3][11]. - Gross margin decreased to 51.4% from 52.5% year-over-year, while non-GAAP gross margin was 51.6% compared to 52.9% [3][11]. - Operating income rose to $44.2 million from $33.2 million, with an operating margin of 21.7% compared to 19.7% [3][11]. - Net income attributable to ACM was $30.9 million, up from $25.7 million, with diluted EPS increasing to $0.45 from $0.39 [3][11][22]. Revenue Breakdown - Total shipments in Q3 2024 were $261 million, a 23% increase from Q3 2023 [6]. - Revenue from single wafer cleaning, Tahoe, and semi-critical cleaning equipment was $161.0 million, up from $132.4 million [24]. - Revenue from ECP and other technologies was $34.6 million, compared to $25.5 million in the previous year [24]. Outlook and Growth Strategy - ACM raised its revenue guidance for fiscal year 2024 to a range of $725 million to $745 million, up from the previous range of $695 million to $735 million [5]. - The company anticipates continued growth in mainland China and has begun initial operations at its Lingang facility [2][9]. - New product launches, including the Ultra C Tahoe cleaning tool and Ultra C bev-p Panel Bevel Etching Tool, are expected to enhance ACM's market position in AI chip manufacturing [7][8]. Recent Developments - ACM completed the purchase of a 39,500 square foot facility in Oregon to expand R&D capabilities [8]. - The company celebrated the opening of its new R&D and production facility in Lingang, China [9].

Core Insights - ACM Research, Inc. announced a significant performance breakthrough for its Ultra C Tahoe Cleaning tool, aimed at meeting the technical requirements of advanced semiconductor nodes [1][2] Product Performance - The Ultra C Tahoe now matches the performance of standalone single-wafer cleaning tools for low-to-medium temperature sulfuric peroxide mix (SPM) processes, utilizing a patented hybrid architecture that combines batch wafer processing and single wafer cleaning [2][4] - The tool achieves an average particle count of less than 6 particles at 26nm, suitable for advanced node manufacturing, and can remove 1x nm particles for high-end applications [5] Environmental and Cost Efficiency - The Ultra C Tahoe offers up to 75% reduction in sulfuric acid consumption, leading to estimated annual cost savings of up to $500,000 from sulfuric acid alone, along with additional environmental benefits [2][5] - The tool aligns with sustainability goals, reducing costs for high-volume manufacturers [5] Market Positioning - The Ultra C Tahoe is positioned to capture market share in the SPM market, particularly in middle and low-temperature applications, which represent an estimated 20% of the total clean market [4] - The upgraded tool is currently in production at several high-volume customer facilities in mainland China, with additional customers evaluating the technology [4] Technological Advancements - The upgraded Ultra C Tahoe features a 25-slot bench module and nine single-wafer chambers, delivering throughput exceeding 200 wafers per hour, comparable to a 12-chamber SPM system [5] - The tool includes advanced flexibility with optional configurations such as new jet spray technology and ACM's patented SAPS/TEBO technologies [5]

ACM Research (NASDAQ: ACMR ) is a company that develops equipment that plays a key role in the supply chain of semiconductors and is expanding its product offering with new segments. The future looks bright and the valuationMy name is María Fernanda and I am currently studying an MBA. My inspiration investors are Warren Buffett, Peter Lynch and Terry Smith, so I look for quality companies at a reasonable valuation. I believe that, in the long term, fundamentals are what drive the share price, so I look to p ...

As the common saying goes, there are no guarantees in life. However, in the investing world, I think the ability to identify a promising business can be a real competitive advantage. It is quite a delight to find some silentNabeel Bukhari is a law graduate with a specialization in company and corporate law, combined with self-taught expertise in financial analysis. He offers a unique perspective on business dynamics by integrating his legal knowledge with financial insights, making him a valuable asset in t ...

FREMONT, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR) announced today that it will release its preliminary revenue range for the third quarter of 2024 before the U.S. market open on Wednesday, October 30, 2024, to coincide with reporting obligations of ACM Research (Shanghai), Inc., ACM’s principal operating subsidiary, to the Shanghai Stock Exchange. ACM will release its full financial results for the third quarter of 2024 before the U.S. market open on Thursday, Nove ...