Aecom Shares Slip 2% Despite Earnings Beat and Record Margins

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]