On August 12, AECOM declined 5.04% in regular trading, trading at approximately $63.39 per share with turnover of $19.28 million, extending the prior session's steep selloff.
The decline reflects ongoing market digestion of AECOM's fiscal Q3 earnings shock and dramatic full-year guidance reduction. The company reported an adjusted loss of $0.50 per share, swinging sharply from earnings of $1.34 a year earlier and missing the analyst consensus of $1.47 by 134%. Quarterly revenue fell approximately 14% year-over-year to $3.59 billion. Most critically, AECOM slashed its full-year adjusted EPS guidance to $3.95-$4.15, down over 30% from the prior range of $5.90-$6.10, and far below the Street estimate of $5.96. Adding to selling pressure, Bank of America cut its price target from $94.50 to $81. Notably, just one quarter earlier the company had raised guidance and delivered a beat, making the reversal particularly jarring for investors.
AECOM is a global infrastructure consulting leader, ranked as the second-largest general architecture and engineering design firm by design revenue, serving transportation, water, environmental, and energy sectors worldwide.
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