AECOM Receives $24.3M Project in California, Increases Backlog

Core Insights - AECOM Technical Services Inc., a subsidiary of AECOM, has secured a $24.3 million contract from the U.S. Department of Defense for environmental remediation services, scheduled for completion by November 26, 2034 [1] - The company is experiencing strong backlog growth, with total backlog reaching $23.86 billion, reflecting a 3% increase from the previous year [3] - AECOM's competitive advantage is supported by a win rate of over 50% for large projects, particularly those exceeding $25 million [3] Backlog and Growth Prospects - AECOM's backlog includes 50.8% contracted backlog growth, indicating robust demand for its services driven by improving global infrastructure needs [3] - The company has a positive outlook due to the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) funding in the U.S. and increased infrastructure investments in the U.K. [5] Stock Performance - AECOM's shares have increased by 36% over the past six months, significantly outperforming the Zacks Engineering - R and D Services industry's growth of 3.4% [5] - The company currently holds a Zacks Rank of 2 (Buy), indicating favorable market sentiment [6]