Aecom Misses Q3 Estimates

Aecom (NYSE: ACM) reported downbeat results for its fiscal third quarter on Tuesday.The Los Angeles, California-based company posted a quarterly loss of $17.2 million, or $0.11 per share, versus a year-ago profit of $69.2 million, or $0.70 per share. Excluding one –time items, the company's earnings came in at $0.74 per share.Its revenue jumped 131.1 percent year-over-year to $4.55 billion. However, analysts were expecting earnings of $0.85 per share on revenue of $4.76 billion."We delivered $4.8 billion in wins and made substantial progress on our integration efforts, said Michael S. Burke, AECOMs chairman and chief executive officer. "Additionally, we entered the final quarter of our fiscal year with strong momentum in our pipeline, which reflects the breadth of our capabilities as well as our broad geographic and end-market exposure."Revenue for the Design & Consulting Services segment climbed 49 percent to $2.0 billion, while Management Services segment revenue jumped 296 percent to $852 million. Revenue for the Construction Services segment came in at $1.7 billion for the quarter.Wins totaled $4.8 billion in the quarter. Its total book-to-burn ratio was 1.1 in the quarter, while total backlog was $40.4 billion at June 30, 2015.As of June 30, 2015, the company had $606 million of total cash and cash equivalents and $4.77 billion of debt.For the full year, Aecom projects earnings of $3.05 to $3.45 per share, versus analysts' estimates of $3.25 per share.Aecom shares gained 3.01 percent to close at $31.17 yesterday.