AECOM — May 11, 2026 release
Fiscal 2026 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001104659-26-058656
Showing in the filing
Adjusted EBITDA
“$1,275 to $1,305”
Period
FY2026
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 18
Free cash flow conversion target for the long term
“100%+”
Long-term free cash flow conversion target for the long term
“100%+”
Organic NSR growth for FY2026
“between 6% and 8%”
Segment adjusted operating margin for FY2026
“16.8%”
Adjusted EBITDA margin for FY2026
“17.0%”
Free cash flow for FY2026
“approximately $400 million”
Average fully diluted share count for FY2026
“130 million”
Adjusted effective tax rate for FY2026
“approximately 20 – 22%”
Margin exit rate for FY2028
“20%+”
Adjusted EPS CAGR for the long term
“15%+”
GAAP EPS for FY2026
“$4.25 to $4.86”
Adjusted EPS for FY2026
“$5.90 to $6.10”
GAAP net income from continuing operations for FY2026
“$617 to $696”
Adjusted interest expense, net for FY2026
“$145”
Adjusted income tax expense for FY2026
“$203 to $207”
Adjusted EBITDA for FY2026
“$1,275 to $1,305”
GAAP interest expense for FY2026
“$195”
GAAP income tax expense for FY2026
“$146 to $165”
Exhibit 99.1 · the passage around this item
… earlier in the release
9
AECOM
Regulation G Information
(in millions, except per share data)
Three Months Ended
Six Months Ended
Mar 31,
2026
Dec 31,
2025
Mar 31,
2025
Mar 31,
2026
Mar 31,
2025
Reconciliation of Net Income Attributable to AECOM from Continuing Operations to Adjusted Net Income Attributable to AECOM from Continuing Operations
Net income attributable to AECOM from continuing operations
$ 184.2
$ 140.4
$ 154.1
$ 324.6
$ 331.4
Noncore AECOM Capital loss, net of NCI
1.5
1.2
4.7
2.7
5.7
Fair value adjustment
(8.3 )
(5.5 )
10.6
(13.8 )
5.0
Restructuring and acquisition costs
13.6
27.9
-
41.5
-
Amortization of intangible assets
17.1
12.9
0.4
30.0
1.5
Financing charges in interest expense
3.5
1.4
1.2
4.9
2.6
Tax effect of the above adjustments (1) and valuation allowance
(6.2 )
(7.8 )
(4.3 )
(14.0 )
(4.3 )
Adjusted net income attributable to AECOM from continuing operations
$ 205.4
$ 170.5
$ 166.7
$ 375.9
$ 341.9
(1) Adjusts the income taxes during the period to exclude
the impact on our effective tax rate of the pre-tax adjustments shown above
Reconciliation of Net Income Attributable to AECOM from Continuing Operations per Diluted Share to Adjusted Net Income Attributable to AECOM from Continuing Operations per Diluted Share
Net income attributable to AECOM from continuing operations per diluted share
$ 1.42
$ 1.06
$ 1.16
$ 2.48
$ 2.48
Per diluted share adjustments:
Noncore AECOM Capital loss, net of NCI
0.01
0.01
0.04
0.02
0.04
Fair value adjustment
(0.06 )
(0.04 )
0.08
(0.10 )
0.04
Restructuring and acquisition costs
0.11
0.21
-
0.32
-
Amortization of intangible assets
0.13
0.10
-
0.23
0.01
Financing charges in interest expense
0.03
0.01
0.01
0.04
0.02
Tax effect of the above adjustments (1) and valuation allowance
(0.05 )
(0.06 )
(0.04 )
(0.11 )
(0.03 )
Adjusted net income attributable to AECOM from continuing operations per diluted share
$ 1.59
$ 1.29
$ 1.25
$ 2.88
$ 2.56
Weighted average shares outstanding – basic
128.7
130.9
132.4
129.8
132.5
Weighted average shares outstanding – diluted
129.2
132.0
133.1
130.6
133.4
(1) Adjusts the income taxes
during the period to exclude the impact on our effective tax rate of the pre-tax adjustments shown above.
Reconciliation of Net Income Attributable to AECOM from Continuing Operations to Adjusted EBITDA
Net income attributable to AECOM from continuing operations
$ 184.2
$ 140.4
$ 154.1
$ 324.6
$ 331.4
Income tax expense
26.9
39.0
51.2
65.9
80.5
Depreciation and amortization
59.5
52.0
41.6
111.5
83.9
Interest income, net of NCI
(12.8 )
(12.5 )
(13.4 )
(25.3 )
(28.6 )
Interest expense
50.5
45.3
42.2
95.8
85.2
Amortized bank fees included in interest expense
(3.5 )
(1.4 )
(1.3 )
(4.9 )
(2.7 )
Noncore AECOM Capital loss, net of NCI
1.5
1.2
4.7
2.7
5.7
Fair value adjustment included in other income
(7.8 )
(5.1 )
10.6
(12.9 )
5.7
Restructuring and acquisition costs
13.6
27.9
-
41.5
-
Adjusted EBITDA
$ 312.1
$ 286.8
$ 289.7
$ 598.9
$ 561.1
10
AECOM
Regulation G Information
(in
millions, except per share data)
Three Months Ended
Six Months Ended
Mar 31, 2026
Dec 31, 2025
Mar 31, 2025
Mar 31, 2026
Mar 31, 2025
Reconciliation of Segment Income from Operations to Adjusted Segment Income from Operations
Americas Segment:
Segment Income from operations
$ 227.9
$ 214.1
$ 217.4
$ 442.0
$ 413.2
Amortization of intangible assets
10.6
8.1
0.3
18.7
1.4
Adjusted segment income from operations
$ 238.5
$ 222.2
$ 217.7
$ 460.7
$ 414.6
International Segment:
Segment Income from operations
$ 77.0
$ 76.0
$ 82.2
$ 153.0
$ 163.0
Amortization of intangible assets
6.6
4.8
-
11.4
-
Adjusted segment income from operations
$ 83.6
$ 80.8
$ 82.2
$ 164.4
$ 163.0
Segment Performance (excludes ACAP & G&A):
Segment Income from operations
$ 304.9
$ 290.1
$ 299.6
$ 595.0
$ 576.2
Amortization of intangible assets
17.2
12.9
0.3
30.1
1.4
Adjusted segment income from operations
$ 322.1
$ 303.0
$ 299.9
$ 625.1
$ 577.6
11
AECOM
Regulation G Information
FY2026 GAAP EPS Guidance based on Adjusted EPS Guidance
(all figures approximate)
Fiscal Year End 2026
GAAP EPS guidance
$4.25 to $4.86
Adjusted EPS excludes:
Amortization of intangible assets
$0.58 to $0.44
Amortization of deferred financing fees
$0.06
Noncore AECOM Capital
$0.02
Fair value adjustment
($0.11)
Restructuring and acquisition costs
$1.54 to $1.15
Tax effect of the above items
($0.44) to ($0.32)
Adjusted EPS guidance
$5.90 to $6.10
FY2026 GAAP Net Income from Continuing
Operations Guidance based on Adjusted EBITDA Guidance
(in millions, all figures approximate)
Fiscal Year End 2026
GAAP net income from continuing operations guidance
$617 to $696
Net income attributable to noncontrolling interest from continuing operations
($65)
Net income attributable to AECOM from continuing operations
$552 to $631
Adjusted net income attributable to AECOM from continuing operations excludes:
Amortization of intangible assets
$75 to $57
Amortization of deferred financing fees
$8
Noncore AECOM Capital
$3
Fair value adjustment
($14)
Restructuring and acquisition costs
$200 to $150
Tax effect of the above items
($57) to ($42)
Adjusted net income attributable to AECOM from continuing operations
$767 to $793
Adjusted EBITDA excludes:
Depreciation
$160
Adjusted interest expense, net
$145
Tax expense, including tax effect of above items
$203 to $207
Adjusted EBITDA guidance
$1,275 to $1,305
FY2026 GAAP Interest Expense
Guidance based on Adjusted Interest Expense Guidance
(in millions, all figures approximate)
Fiscal Year End 2026
GAAP interest expense guidance
$195
Finance charges in interest expense
$8
Interest income, net of NCI
($42)
Adjusted interest expense guidance, net
$145
FY2026
GAAP Income Tax Guidance based on Adjusted Income Tax Guidance (in millions, all figures approximate)
Fiscal Year End 2026
GAAP income tax expense guidance
$146 to $165
Tax effect of adjusting items
$57 to $42
Adjusted income tax expense guidance
$203 to $207
Note: Variances in tables
are due to rounding.
12
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.