AECOM — Feb 3, 2025 release
Fiscal 2025 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001104659-25-008636
Showing in the filing
Adjusted income tax expense
“$213 to $224”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 19
Net service revenue in Water & Environment A…
“doubling the $200 million”
Margin exit rate for FY2026
“17%”
Organic NSR growth for FY2025
“5% to 8%”
Adjusted EBITDA for FY2025
“$1,175 to $1,210”
Adjusted EPS for FY2025
“$5.05 to $5.20”
Segment adjusted operating margin for FY2025
“16.1%”
Adjusted EBITDA margin for FY2025
“16.3%”
Free cash flow conversion for FY2025
“100%+”
Average fully diluted share count for FY2025
“134 million”
Adjusted effective tax rate for FY2025
“approximately 24%”
Adjusted tax rate for FY2025
“approximately 24%”
GAAP EPS for FY2025
“$5.03 to $5.19”
GAAP net income from continuing operations for FY2025
“$735 to $746”
Net income attributable to AECOM from contin… for FY2025
“$675 to $696”
Adjusted net income attributable to AECOM fr… for FY2025
“$677 to $697”
Adjusted net interest expense for FY2025
“$125 to $129”
Adjusted income tax expense for FY2025
“$213 to $224”
GAAP interest expense for FY2025
“$170 to $174”
GAAP income tax expense for FY2025
“$213 to $223”
Exhibit 99.1 · the passage around this item
… earlier in the release
Reconciliation
of Net Income Attributable to AECOM from Continuing Operations to Adjusted EBITDA
Net income attributable
to AECOM from continuing operations
$ 177.3
$ 168.4
$ 96.8
Income tax expense
29.3
34.9
26.6
Depreciation and amortization
42.3
45.0
43.1
Interest income, net of NCI
(15.2 )
(13.7 )
(10.7 )
Interest expense
43.0
45.0
41.3
Amortized bank fees included in interest
expense
(1.4 )
(1.3 )
(1.2 )
Noncore AECOM Capital loss, net of NCI
1.0
2.2
39.1
Fair value adjustment included in other
income
(4.9 )
(8.9 )
—
Restructuring costs
—
18.3
16.2
Adjusted EBITDA
$ 271.4
$ 289.9
$ 251.2
9
AECOM
Regulation
G Information
(in
millions, except per share data)
Three
Months Ended
Dec 31,
2024
Sep 30,
2024
Dec 31,
2023
Reconciliation
of Segment Income from Operations to Adjusted Segment Income from Operations
Americas Segment:
Segment Income from operations
$ 195.8
$ 203.4
$ 174.6
Amortization of
intangible assets
1.1
4.3
4.3
Adjusted segment
income from operations
$ 196.9
$ 207.7
$ 178.9
International Segment:
Segment Income from operations
$ 80.8
$ 94.5
$ 77.1
Amortization of
intangible assets
—
0.4
0.3
Adjusted segment
income from operations
$ 80.8
$ 94.9
$ 77.4
Segment Performance (excludes ACAP and G&A):
Segment Income from operations
$ 276.6
$ 297.9
$ 251.7
Amortization of
intangible assets
1.1
4.7
4.6
Adjusted segment
income from operations
$ 277.7
$ 302.6
$ 256.3
10
AECOM
Regulation
G Information
FY2025 GAAP EPS Guidance based on Adjusted EPS Guidance
(all figures approximate)
Fiscal Year End 2025
GAAP EPS guidance
$5.03
to $5.19
Adjusted EPS excludes:
Amortization of intangible
assets
$0.01
Amortization of deferred financing
fees
$0.04
Noncore AECOM Capital
$0.01
Fair value adjustment
($0.04)
Tax effect of
the above items
$0.00
to ($0.01)
Adjusted EPS guidance
$5.05
to $5.20
FY2025 GAAP Net Income from Continuing Operations
Guidance based on Adjusted EBITDA Guidance
(in millions, all figures approximate)
Fiscal Year End 2025
GAAP net income from continuing operations guidance
$735
to $746
Net income attributable to noncontrolling
interest from continuing operations
($60)
to ($50)
Net
income attributable to AECOM from continuing operations
$675
to $696
Adjusted net income
attributable to AECOM from continuing operations excludes:
Amortization of intangible
assets
$2
Amortization of deferred financing
fees
$5
Noncore AECOM Capital
$1
Fair value adjustment
($6)
Tax effect of
the above items
$0
to ($1)
Adjusted net income attributable to AECOM
from continuing operations
$677
to $697
Adjusted EBITDA excludes:
Depreciation
$160
Adjusted interest expense, net
$125
to $129
Tax expense, including
tax effect of above items
$213
to $224
Adjusted EBITDA guidance
$1,175
to $1,210
FY2025 GAAP Interest Expense Guidance based on
Adjusted Interest Expense Guidance
(in millions, all figures approximate)
Fiscal Year End 2025
GAAP interest expense guidance
$170
to $174
Finance charges in interest expense
($5)
Interest income, net of NCI
($40)
Adjusted net interest expense guidance
$125
to $129
FY2025 GAAP Income Tax Guidance
based on Adjusted Income Tax Guidance
(in
millions, all figures approximate)
Fiscal
Year End 2025
GAAP income tax expense guidance
$213
to $223
Tax effect of adjusting items
$0
to $1
Adjusted income tax expense guidance
$213
to $224
Note: Variances in tables are due to rounding.
11
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.