Non-GAAP Financial Information Fourth Quarter Fiscal 2025 East San Fernando Valley Transit Corridor Light Rail Los Angeles, California AECOM was appointed by the Los Angeles County Metropolitan Transportation Authority as the lead designer on the East San Fernando Valley Light Rail Transit project, providing engineering, architectural and design services for the 6.7-mile track extension. AECOM was appointed to Phase 2 work in Q4. Disclosures Forward-Looking Statements All statements in this communication ot ...

Core Insights - AECOM is hosting an Investor Day to outline transformative strategic initiatives and long-term financial targets [1] - The company emphasizes its focus over the past five years on building a strong culture, business profile, and operating structure to lead the industry [1] - Today's announcements reflect significant strategic successes achieved by the company [1]

Earnings Reports - Home Depot Inc. is expected to report quarterly earnings of $3.85 per share on revenue of $41.14 billion [2] - Helmerich and Payne Inc. reported a loss of 1 cent per share for the fourth quarter, with quarterly sales of $1.012 billion, exceeding the analyst consensus estimate of $973.678 million [2] - Medtronic PLC is anticipated to post quarterly earnings of $1.31 per share on revenue of $8.87 billion [2] - Aecom is expected to report quarterly earnings of $1.34 per share on revenue of $4.31 billion [2] Stock Movements - Home Depot shares fell 0.4% to $356.70 in after-hours trading [2] - Helmerich and Payne shares dipped 8.2% to $25.34 in after-hours trading [2] - Medtronic shares rose 0.1% to $96.29 in after-hours trading [2] - Aecom shares gained 0.8% to $132.99 in after-hours trading [2] Mergers and Acquisitions - Akzo Nobel N.V. and Axalta Coating Systems Ltd. agreed to an all-stock merger of equals, resulting in Axalta Coating shares jumping 13.2% to $31.90 in after-hours trading [2]

Core Insights - Aecom is a leading global infrastructure consulting firm with a diverse range of services and a strong international presence [1][3] Financial Performance - The financial outlook for Aecom has been stable, with the consensus price target showing minimal fluctuation from $145.00 a year ago to $144.50 last month, indicating steady confidence in its operational performance [2] - Citigroup has set a lower price target of $105 for Aecom, reflecting a divergent viewpoint that may arise from different evaluations of the company's valuation and profitability [3] Competitive Position - Aecom's diversified business model and extensive global operations provide a competitive edge against industry counterparts like Metallurgical Corp. of China, potentially buffering against market shifts [4]

Earnings Expectations - Aramark (NYSE:ARMK) is expected to report quarterly earnings of 65 cents per share on revenue of $5.16 billion [2] - J&J Snack Foods Corp. (NASDAQ:JJSF) is anticipated to post quarterly earnings of $1.19 per share on revenue of $419.09 million [2] - Aecom (NYSE:ACM) is projected to report quarterly earnings of $1.34 per share on revenue of $4.31 billion [2] - Helmerich and Payne Inc. (NYSE:HP) is expected to post quarterly earnings of 25 cents per share on revenue of $973.68 million [2] Stock Performance - Aramark shares fell 1.3% to close at $38.03 on Friday [2] - J&J Snack Foods shares rose 0.6% to close at $83.09 on Friday [2] - Sohu.com Ltd. (NASDAQ:SOHU) reported third-quarter earnings of 33 cents per share, compared to a loss of 39 cents per share a year ago, with sales of $180.161 million, up from $151.992 million [2] - Sohu.com shares fell 3.2% to close at $14.32 on Friday [2] - Aecom shares gained 0.3% to $133.89 in after-hours trading [2] - Helmerich and Payne shares gained 3.2% to close at $27.83 on Friday [2]

Company Overview - ACM Research is a leading provider of advanced wafer processing equipment for the semiconductor industry, specializing in single-wafer cleaning and plating technologies [4][8] - The company leverages proprietary innovations such as space alternated phase shift and timely energized bubble oscillation to meet the needs of cutting-edge chip fabrication [4][8] - As of November 14, 2025, ACM Research's market capitalization was $2.12 billion, with a revenue of $880.35 million and a net income of $117.11 million for the trailing twelve months (TTM) [3] Recent Developments - Seldon Capital LP disclosed a new position in ACM Research, adding 193,242 shares valued at approximately $7.56 million as of September 30, 2025 [1] - This new position represents 2.66% of Seldon Capital's total assets under management (AUM) [2] - ACM Research shares were priced at $31.51 on November 14, 2025, with a one-year total return of 68.2%, outperforming the S&P 500 by 57 percentage points [2] Financial Performance - In Q3 2025, ACM Research reported a 32% year-over-year increase in sales, reaching $269.2 million [9] - The company expects full-year revenue to be between $875 million and $925 million, indicating significant growth compared to 2024's revenue of $782.1 million [9] - ACM Research's diluted earnings per share (EPS) increased to $1.26 in the first three quarters of 2025, up from $1.07 in 2024 [10] Market Position - ACM Research positions itself as a key enabler of next-generation semiconductor production, focusing on enhancing manufacturing yields [5] - The company sells proprietary equipment and technology solutions to integrated circuit manufacturers through a direct sales force and third-party representatives [8]

Core Insights - AECOM is expected to report Q4 fiscal 2025 earnings with an EPS of $1.34 and revenue of $1.95 billion, driven by strong public infrastructure spending and favorable international trends [1][6] - The company has consistently exceeded earnings expectations over the last four quarters, with an average surprise of 9.8% [2][6] Financial Performance - In the previous quarter, AECOM's earnings exceeded expectations by 7.2% and grew 15.5% year-over-year, while revenue increased by 6.1% compared to the previous year, despite a slight miss of 0.6% against estimates [2] - Key financial ratios include a P/E ratio of 28.64, a price-to-sales ratio of 1.10, and an enterprise value to sales ratio of 1.17, indicating the company's market valuation [3][6] Operational Efficiency - The enterprise value to operating cash flow ratio stands at 20.40, and the earnings yield is 3.49%, reflecting the company's operational efficiency [4] - AECOM's debt-to-equity ratio is 1.22, suggesting a moderate use of debt in its operations, while the current ratio of 1.17 indicates a reasonable level of liquidity to cover short-term liabilities [4][5] Strategic Outlook - The company's restructuring efforts and strategic capital allocation are expected to enhance efficiency and profitability, contributing to anticipated growth in the upcoming earnings report [5]

Core Viewpoint - AECOM is expected to report its fourth-quarter fiscal 2025 results on November 17, with anticipated year-over-year growth in earnings and revenues driven by public infrastructure spending and favorable international trends [1][3][9]. Financial Performance - In the last reported quarter, AECOM's earnings exceeded the Zacks Consensus Estimate by 7.2%, growing 15.5% year over year, while revenues slightly missed the consensus by 0.6% but increased by 6.1% year over year [1]. - The Zacks Consensus Estimate for the upcoming fourth quarter indicates adjusted EPS of $1.34, reflecting a 5.5% increase from the previous year's $1.27, and revenues are estimated at $1.95 billion, showing a year-over-year growth of 7.4% [2][9]. Growth Drivers - The expected growth in AECOM's fourth-quarter performance is attributed to robust public infrastructure spending trends supported by federal and state initiatives, including the One Big Beautiful Bill Act [3]. - Favorable trends in international markets such as Canada, the UK, Ireland, Australia, and the Middle East are also anticipated to contribute positively to performance [3]. - Key market segments, including AI, water, transportation, aviation, coastal protection, and electricity, are expected to provide growing opportunities, reflected in a robust project pipeline and backlog growth [4]. Segment Performance - The Zacks Consensus Estimate for net service revenues in the Americas and International segments is projected at $1.15 billion and $799 million, indicating year-over-year growth of 8.5% and 6%, respectively [5]. Operational Efficiency - AECOM's restructuring efforts and balanced capital allocation strategy are expected to enhance operational efficiency and profitability, with the bottom line anticipated to increase year over year due to improved top-line leverage and minimal restructuring costs [6][9]. Market Challenges - Despite geopolitical risks, tariff-related concerns, and foreign currency challenges, AECOM's focus on continuous innovation and effective capital management is expected to support growth [7]. Earnings Prediction Model - The Zacks model does not predict an earnings beat for AECOM this time, as the company has an Earnings ESP of 0.00% and a Zacks Rank of 4 (Sell) [8][10].

Core Insights - Acoramidis has shown significant clinical benefits in reducing all-cause mortality in patients with variant ATTR-CM, particularly in the V142I subpopulation, with a reported 69% reduction in mortality through Month 30 and Month 42 [1][3][4] - The study highlights the importance of early diagnosis and treatment for patients with the V142I variant, who have historically faced challenges in accessing care [2] - The findings reflect advancements in precision medicine and equity in cardiovascular care, emphasizing the need for continued research and development in this area [2] Summary by Sections Clinical Study Results - The ATTRibute-CM study demonstrated a 59% risk reduction in all-cause mortality (ACM) in the overall variant population at Month 42 compared to placebo [3] - In the V142I subpopulation, there was a 69% risk reduction in ACM through Month 30 and Month 42 [3][4] - Acoramidis also showed improvements in functional capacity, with a least-squares mean difference of 87 meters in the 6-minute walk test and a 20-point difference in the Kansas City Cardiomyopathy Questionnaire score through Month 30 [4] Patient Population Insights - The V142I variant affects 3-4% of the U.S. Black population, highlighting a significant unmet need for effective treatments in this demographic [1] - The study's results are particularly meaningful for patients with variant ATTR-CM, who have limited access to early diagnosis and treatment options [2] Regulatory and Market Information - Acoramidis is approved as Attruby® by the U.S. FDA and as BEYONTTRA® by the European Medicines Agency and other regulatory bodies, indicating its recognized efficacy in stabilizing transthyretin [6][8] - Future data on the benefits of Attruby for ATTR-CM patients is anticipated to be presented at upcoming medical meetings [7] Safety and Adverse Reactions - Adverse reactions reported with Attruby included diarrhea (11.6% vs 7.6% for placebo) and upper abdominal pain (5.5% vs 1.4% for placebo), with most being mild and resolving without discontinuation [9]

Core Viewpoint - The comparison between Matrix Service (MTRX) and Aecom Technology (ACM) indicates that MTRX presents a better value opportunity for investors at this time [1]. Valuation Metrics - MTRX has a forward P/E ratio of 23.11, while ACM has a forward P/E of 23.30 [5]. - MTRX's PEG ratio is 1.28, compared to ACM's PEG ratio of 1.94, suggesting MTRX has a more favorable expected EPS growth rate [5]. - MTRX's P/B ratio is 3.02, significantly lower than ACM's P/B ratio of 6.48, indicating MTRX is more aligned with its book value [6]. Earnings Outlook - MTRX has a Zacks Rank of 2 (Buy), indicating a stronger improvement in its earnings outlook compared to ACM, which has a Zacks Rank of 4 (Sell) [3]. - MTRX holds a Value grade of A, while ACM has a Value grade of D, further supporting MTRX as the superior value option [6].