AECOM (ACM) Investor presentation summary

Strategic positioning and market leadership

• Holds #1 ranking in all key end markets, supported by deep technical expertise and trusted client relationships.

• Maintains a record $26B backlog with a book-to-burn ratio above 1x for 21 consecutive quarters.

• Demonstrates a culture focused on innovation, adaptability, and leveraging competitive advantages to expand market share.

• Investments in AI and technology are driving better client outcomes and expanding addressable markets.

• Recent project wins, such as the Sydney Metro West Linewide Systems package and Scottish Water Enterprise Alliance, highlight strategic growth.

Financial performance and guidance

• Raised full-year earnings guidance following Q1 outperformance, now expecting adjusted EPS of $5.95 and adjusted EBITDA of $1,287.5M at midpoints.

• Achieved record first-quarter results in NSR, adjusted EBITDA, margins, and backlog, with NSR up 5% and Americas growth at 9%.

• Backlog increased 9% to a record high, with a 1.5 book-to-burn ratio and $3.5B in total wins for the quarter.

• FY'26 guidance includes 6-8% NSR growth, 17% adjusted EBITDA margin, and 13% adjusted EPS growth.

• Returned over $340M to shareholders in Q1 through repurchases and dividends, with repurchase authorization increased to $1B.

Operational efficiency and value creation

• Revenue per employee has increased by 30% and profit per employee by 50% since 2020, reflecting productivity gains.

• Commercial model evolves to capture more value for clients, driving higher EBITDA and NSR per employee.

• Focused on core, higher-return, lower-risk businesses with balanced geographic and funding exposure.

• Industry-leading profitability and strong free cash flow conversion underpin disciplined capital allocation.

• Targets for FY'26–FY'29 include 5–8% organic NSR CAGR, 20%+ segment adjusted operating margin, and double-digit annual dividend growth.