AECOM — Form 8-K
Filed August 10, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 52/100
What the filing says
AECOM reported Q3 FY2026 results with a $337 million pre-tax loss on a Construction Management project awarded in 2019, caused by lower-than-expected subcontractor productivity and delayed completion (expected Q2 FY2027). Excluding this charge, adjusted EBITDA increased 5% and adjusted EPS increased 11%; however, the company reduced full-year free cash flow guidance from prior expectations to ~$300 million and lowered NSR growth expectations due to delayed project starts and Middle East conflicts. Backlog reached a record $27.8 billion (up 13%), with strong wins of $4.2 billion (1.6 book-to-burn ratio).
Why this rating
Material one-time loss (~2.8% of market cap) materially impacts FY2026 results; underlying business shows strength with record backlog and positive margins ex-charge. Moderate trajectory impact given company's $12.2B scale and recoverable claims in progress.
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