AECOM (NYSE:ACM) reports 2Q17 earnings ; Tops Estimate; Reiterates 2017 Outlook

AECOM (NYSE:ACM) reports 2Q17 earnings ; Tops Estimate; Reiterates 2017 Outlook

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AECOM (NYSE:ACM) reported net income for the second quarter of $ 102.40 million or  $ 0.65 per share, compared to income  $ 41.83 million or $ 0.27 per share for the year-ago quarter.

The Los Angeles, California based company recorded second quarter adjusted net income of $ 140.70 million or $ 0.89 per share.

The Revenue for second quarter increased  to $ 4.43 billion from $ 4.38 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected ACM to report income of $ 0.59 per share on revenue of $ 4.47 billion  for the second quarter. Analysts estimates generally exclude one time charges / gains.

Michael S. Burke, chairman and CEO, said: We had several key accomplishments in the second quarter: we delivered EPS ahead of our expectations, we had positive organic revenue growth and we announced the first monetization from our AECOM Capital portfolio.

Aecom reiterating its fiscal 2017 guidance, expects adjusted earnings in the range of $2.80 to $3.20 per share.