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LOS ANGELES — AECOM (NYSE: ACM), the world’s trusted infrastructure consulting agency, introduced as we speak that its Board of Administrators has elevated the authorization underneath its current inventory repurchase program to $1 billion.
“In keeping with our capital allocation priorities, now we have repurchased practically $1 billion of inventory since final September,” mentioned Troy Rudd, AECOM’s chief government officer. “Trying forward, our robust steadiness sheet and the extremely money generative nature of our Skilled Companies enterprise underscore our dedication to persevering with to return free money stream to stockholders, and we proceed to conclude that purchasing our inventory stays the very best and highest use of free money stream after investments in our individuals and innovation to drive industry-leading natural income development.”
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“The steps now we have taken over the previous a number of years to place for development, improve profitability, and fortify our steadiness sheet and liquidity have created vital free money stream for share repurchases,” added Gaurav Kapoor, AECOM’s chief monetary officer. “Trying forward, the elevated authorization is in line with our capital allocation coverage and our deal with delivering industry-leading earnings and free money stream per share development.”
Since September 2020, the Firm has repurchased roughly 19 million shares and has diminished its shares excellent by 12% in comparison with its starting share depend.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting agency, delivering skilled providers all through the undertaking lifecycle – from planning, design and engineering to program and building administration. On initiatives spanning transportation, buildings, water, new vitality and the atmosphere, our public- and private-sector purchasers belief us to resolve their most complicated challenges. Our groups are pushed by a standard objective to ship a greater world via our unmatched technical experience and innovation, a tradition of fairness, variety and inclusion, and a dedication to environmental, social and governance priorities. AECOM is a Fortune 500 agency and its Skilled Companies enterprise had income of $13.2 billion in fiscal 12 months 2020. See how we’re delivering sustainable legacies for generations to return at aecom.com and @AECOM.
Ahead-Trying Statements
All statements on this communication apart from statements of historic reality are “forward-looking statements” for functions of federal and state securities legal guidelines, together with any statements of the plans, methods and targets for future operations, profitability, strategic worth creation, coronavirus impacts, threat profile and funding methods, and any statements concerning future financial circumstances or efficiency, and the anticipated monetary and operational outcomes of AECOM. Though we imagine that the expectations mirrored in our forward-looking statements are affordable, precise outcomes may differ materially from these projected or assumed in any of our forward-looking statements. Necessary components that would trigger our precise outcomes, efficiency and achievements, or {industry} outcomes to vary materially from estimates or projections contained in our forward-looking statements embrace, however aren’t restricted to, the next: our enterprise is cyclical and susceptible to financial downturns and shopper spending reductions; impacts attributable to the coronavirus and the associated financial instability and market volatility, together with the response of governments to the coronavirus, together with any extended interval of journey, business or different comparable restrictions, the delay in graduation, or short-term or everlasting halting of building, infrastructure or different initiatives, necessities that we take away our workers or personnel from the sphere for his or her safety, and delays or reductions in deliberate initiatives by our governmental or business purchasers or potential purchasers; losses underneath fixed-price contracts; restricted management over operations run via our three way partnership entities; legal responsibility for misconduct by our workers or consultants; failure to adjust to legal guidelines or laws relevant to our enterprise; sustaining ample surety and monetary capability; excessive leverage and potential incapability to service our debt and ensures; publicity to Brexit; publicity to political and financial dangers in several international locations; forex alternate fee fluctuations; retaining and recruiting key technical and administration personnel; authorized claims; insufficient insurance coverage protection; environmental regulation compliance and ample nuclear indemnification; surprising changes and cancellations associated to our backlog; companions and third events who might fail to fulfill their authorized obligations; AECOM Capital actual property growth initiatives; managing pension price; cybersecurity points, IT outages and information privateness; dangers related to the advantages and prices of the Administration Companies transaction, together with the chance that the anticipated advantages of the Administration Companies transaction or any contingent buy worth won’t be realized inside the anticipated timeframe, in full or in any respect; in addition to different extra dangers and components that would trigger precise outcomes to vary materially from our forward-looking statements set forth in our stories filed with the Securities and Alternate Fee. Any forward-looking statements are made as of the date hereof. We don’t intend, and undertake no obligation, to replace any forward-looking assertion.
View supply model on businesswire.com: https://www.businesswire.com/news/home/20210923005489/en/
Contacts
Media:
Brendan Ranson-Walsh
Vice President, International Communications & Company Accountability
1.213.996.2367
Brendan.Ranson-Walsh@aecom.com
Investor:
Will Gabrielski
Senior Vice President, Finance & Investor Relations
1.213.593.8208
William.Gabrielski@aecom.com
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