AECOM Receives $24.3M Project in California, Increases Backlog

Los Angeles-based AECOM Technical Services Inc., a subsidiary of AECOM ACM, has won an award from the U.S. Department of Defense for environmental remediation services.AECOM will work on this $24.3-million project in Lompoc, CA, which is scheduled to be completed by Nov. 26, 2034. The contracting activity involves the U.S. Army Corps of Engineers, Los Angeles, CA.Strong Backlog Growth Bodes Well for AECOMAECOM has been witnessing robust prospects in each of its segments. Currently, it has a good visibility of a strong backlog and pipelines for the upcoming quarters. Owing to the improving global scenario, which is fostering infrastructural demand, there has been an increase in demand for ACM’s services. This improving trend is reflected in the company’s backlog levels.As of the end of the fourth quarter of fiscal 2024, the total backlog was $23.86 billion compared with $23.16 billion in the prior-year period. The current backlog level includes 50.8% contracted backlog growth. AECOM’s ability to consistently secure large, complex projects underpins its competitive advantage. The company maintains a win rate of more than 50% for large pursuits, which rises further for projects exceeding $25 million. Image Source: Zacks Investment Research Shares of this solutions provider for supporting professional, technical and management solutions have gained 36% in the past six months, outperforming the Zacks Engineering - R and D Services industry’s 3.4% growth. With the $1.2-trillion IIJA funding accelerating in the United States and the U.K. government prioritizing investments in infrastructure, led by the transportation and water markets, the company’s growth prospects in the market seem encouraging.ACM’s Zacks Rank & Other Key PicksAECOM currently carries a Zacks Rank #2 (Buy).Here are some other top-ranked stocks from the Construction sector.Sterling Infrastructure, Inc. STRL presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.It has a trailing four-quarter earnings surprise of 21.5%, on average. Shares of STRL have risen 57.4% in the past six months. The Zacks Consensus Estimate for STRL’s 2024 sales and earnings per share (EPS) implies an increase of 9% and 33.3%, respectively, from the prior-year levels.Louisiana-Pacific Corporation LPX currently flaunts a Zacks Rank of 1. LPX delivered a trailing four-quarter earnings surprise of 30.7%, on average. The stock has gained 28.5% in the past six months.The Zacks Consensus Estimate for LPX’s 2024 sales and EPS indicates an increase of 12.7% and 72.1%, respectively, from a year ago.MasTec, Inc. MTZ presently sports a Zacks Rank of 1. MTZ delivered a trailing four-quarter earnings surprise of 40.2%, on average. The stock has gained 29.7% in the past six months.The Zacks Consensus Estimate for MTZ’s 2024 sales and EPS indicates an increase of 1.9% and 84.3%, respectively, from a year ago.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AECOM (ACM): Free Stock Analysis Report Louisiana-Pacific Corporation (LPX): Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL): Free Stock Analysis Report MasTec, Inc. (MTZ): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks