We immediately repaid all of our $1.3 billion of secured debt, and we finished the second quarter with an all-time high cash balance of $1.3 billion and net leverage of 1.2 times. Your line is open. AECOM Q2 2020 Earnings Call Transcript businesswire. AECOM (ACM) CEO Mike Burke on Q3 2020 Results - Earnings Call Transcript Aug. 4, 2020 at 5:33 p.m. And we'll update you as soon as we have information to provide. Organic NSR declined by 2%. And then while understanding that you lowered your EBITDA guidance just a bit given the pandemic concerning, could you tell us, since the pandemic started, how much positive offset you've seen so far from work from FEMA versus the actual COVID-related delays? Except as required by law, we undertake no obligation to update our forward-looking statements. This leverage profile positions us extremely well at a time when liquidity is highly valued. Turning to our financial guidance. So all told, we see there being potentially up to $100 million tailwind just from government programs that would support our view of being within that guidance range. In fact, we are ranked number one in our industry in terms of work won for the U.S. federal government for COVID-19. Welcome, everyone. US stock market today: stock quotes, stock screener, stock charts, insiders trading, market news, portfolio tracking, and cryptocurrencies. So again, as Mike pointed out a little earlier, we spend about $400 million a year on real estate. We still again look forward and we think that based on the underlying nature of our business and the marketplaces that we're in, that we have the ability to deliver profitable growth into 2021. Like what would it take for you to restart your share repurchase program? I'm just curious whether there's been a reassessment on the potential for those programs, whether some of those actions can be accelerated or expanded and just to what extent a weaker macro backdrop extends the time line to achieve the financial targets you outlined. Second, when conditions normalize, we will look to return substantially all available excess capital to our stockholders. AECOM 2020 Q4 - Results - Earnings Call Presentation, AECOM (ACM) CEO Troy Rudd on Q4 2020 Results - Earnings Call Transcript, AECOM (ACM) CEO Mike Burke on Q3 2020 Results - Earnings Call Transcript, AECOM 2020 Q3 - Results - Earnings Call Presentation, AECOM (ACM) CEO Michael Burke on Q2 2020 Results - Earnings Call Transcript, AECOM 2020 Q2 - Results - Earnings Call Presentation, AECOM (ACM) CEO Mike Burke on Q1 2020 Results - Earnings Call Transcript, AECOM 2020 Q1 - Results - Earnings Call Presentation, AECOM 2019 Q4 - Results - Earnings Call Presentation, AECOM (ACM) CEO Mike Burke on Q4 2019 Results - Earnings Call Transcript, AECOM (ACM) CEO Mike Burke on Q3 2019 Results - Earnings Call Transcript, AECOM Technology Corporation (ACM) CEO Michael Burke on Q2 2019 Results - Earnings Call Transcript, AECOM 2019 Q2 - Results - Earnings Call Slides, AECOM Technology Corporation (ACM) CEO Mike Burke on Q1 2019 Results - Earnings Call Transcript, AECOM Technology (ACM) Investor Presentation - Slideshow, AECOM Technology Corporation's (ACM) CEO Mike Burke on Q4 2018 Results - Earnings Call Transcript, AECOM Technology Corporation 2018 Q4 - Results - Earnings Call Slides, AECOM Technology Corporation 2018 Q3 - Results - Earnings Call Slides, AECOM (ACM) Q3 2018 Results - Earnings Call Transcript, AECOM (ACM) Q2 2018 Results - Earnings Call Transcript. Clearly, our financial performance over the past six quarters has been clear that we're delivering on our strategy and we're exceeding all the targets that we've set. And second one for me is just trying to get as comfortable as we can on the swing back in free cash flow to hit the impact outlook for the full year. Encouragingly, these programs continue to prioritize investment in critical, large-scale transportation and infrastructure projects. Prepared Remarks: Operator. That will mean that you only have maybe a couple of hundred million dollars of net debt, plus you have a U.S. Virgin Islands big receivable that's getting paid, albeit slowly that's on there. Good morning, and welcome to AECOM Fourth Quarter 2018 Earnings Conference Call. And our agility as an organization has proven to be a key competitive advantage as we quickly mobilized contingency plans for our people to support our clients in the face of unprecedented change. Hi. Free cash flow was a use of $313 million. So Sean, let me start off with that, and then I'll let Troy kick off any further color on the guidance. Akcie a burzové trhy: grafy akcií, akciový screener, insider trading, správy z finančných trhov, analýzy, akciové portfólia a kryptomeny. And at least according to the Bloomberg Government report, we've captured about 25% of all the COVID-related federal dollars within our industry, and we're the number one in our industry in winning COVID-related work. AECOM Q4 2009 Earnings Conference Call Transcript. AECOM (ACM) Q3 2019 Earnings Call Transcript. So we're feeling pretty good. Yes. There's a benefit in the year but an additional run rate impact in subsequent years. I would like to direct your attention to the safe harbor statement on Page one of today's presentation. I would like to inform all participants this call is being recorded at the request of AECOM. Andy, it's Troy. Or is the Board thinking it makes sense to keep you there indefinitely in particular in an environment like this given your history with the company? Including our performance in April that exceeded our expectations for NSR, earnings and cash flow, we have delivered seven months of outperformance compared to our plan this year, which underscores our confidence in achieving our full year guidance. And then beyond that, there are the normal things that we typically see in the business. AECOM (ACM) CEO Mike Burke on Q3 2020 Results - Earnings Call Transcript. AECOM Q2 2020 Earnings Call Transcript businesswire. ET. And that's been consistent with the past. ET. We've had less than 1% of our projects have had some sort of deferral during the COVID crisis. This is the last quarter of material headwinds to growth related to our storm recovery work. Okay. The number of programs that we see around the world in terms of payroll tax deferrals, acceleration of government payments, we have a number of our government clients, particularly in Australia and the U.K., that have accelerated payments to us and have a plan of continuing to do that through the year. With these actions, we achieved our top priority: keeping our key assets, the many talented people across our organization safe, employed and highly engaged with clients. ET, Good morning, and welcome to the AECOM Second Quarter 2020 Conference Call. The last few months have impacted all of us in profound ways, and the resilience of our people inspires a great deal of pride. Just any update that you could provide on that front? And so when we look at all of those together, it starts to look a little bit like what we saw after the global financial crisis in '07, '08 and '09. They wanted to see that capability immediately, and I think it allowed us to differentiate ourselves quite a bit. And the good news is we are not expecting a 10% drop in revenue in any way. So again, supporting that bridge, in fact, is having us actually collect beyond what we expected in April, so supporting an improvement in working capital in the second half of the year. AECOM Q2 2010 Earnings Conference Call Transcript – 2010-05-06 – US$ 54.00 – Final Transcript of ACM earnings conference call or presentation, 6-May-10 11:00am ET AECOM at Bank of America Securities Merrill Lynch Industrials Conference Transcript – 2009-12-08 – US$ 54.00 – Final Transcript of ACM presentation, 8-Dec-09 9:00am ET As we said, we currently have a hiring freeze in place. We are using non-GAAP financial measures in our presentation. Okay. Our adjusted operating margin for the second quarter was 5.9%, a 240 basis point increase over the prior year. Because of this and our agility in repositioning our workforce, we have retained nearly 99% of our employees, which positions us even better to respond directly as economic trends recover and client demand accelerates. AECOM Technology (NYSE: ACM) Q4 2018 Earnings Conference Call Nov. 12, 2018, 12:00 p.m. Wins for the quarter totaled nearly $9 billion, a record for the Professional Services business. But I guess my question is, how much liquidity is too much liquidity? So they were in the best position coming into the pandemic. Nobody is traveling, and that does have the benefit to your P&L. Can you just talk historically, like maybe what percentage of either gross or net revenue your travel cost has represented over the period of time just so we can have some context as to how much that's benefiting you? Your next question comes from the line of Jamie Cook with Credit Suisse. These investments have enabled a relatively seamless transition to remote working, and our ever-expanding digital solutions are deepening our client engagement as well. Company Participants. Lara Poloni - President. Good morning and nice quarter. While the forecast of tax receipts is clearly lower today, contributions from the CARES Act and the Federal Reserve are set to provide $700 billion of funding capacity to our clients. During the same period in the prior year, the firm earned $0.79 earnings per share. And then my last question is just kind of a technical thing, but you kind of alluded to this, Troy. Nice quarter. But also, we're seeing a number of our government clients actually accelerate some of their payments just to support their economy and to support the people working in those economies. Thank you, Will. And we're certainly delighted to see the agility that our employees have displayed over the past few months by converting to a remote work environment by providing new services to new clients in new ways that the pandemic has required. Many of these changes may accelerate innovation and digital transformation trends in our industry, which we are well positioned for. But I'll tell you, Hong Kong is our biggest market in Asia where we've got almost 5,000 employees in Hong Kong alone. You can get things done much more efficiently. ET. We are delivering on our commitments to simplify and derisk our business and expand our margins. AECOM reports second quarter fiscal year 2020 results Montag, 4 Mai 2020 markets.ft. Now the vast majority of our projects where work has been suspended, we continue to have our general conditions paid for by our clients, which covers our costs. I think the $700 million was I was talking about the EBITDA figure with which you can convert to free cash flow. I would like to inform all participants this call is being recorded at the request of AECOM. Contents: Prepared Remarks. We aren't undertaking any travel. Edited Transcript of ACM earnings conference call or presentation 5-May-20 4:00pm GMT fool. For the second quarter, adjusted EBITDA increased by 16% over the prior year to $182 million. We rarely see anything drop out of backlog. And we just continue to proceed on the path, and we expect margins to improve over the course of the year and even beyond this year into the future. Let me walk through the details of our cash flow. I appreciate it. Call Participants. But that didn't happen overnight. Fourth, we have built a record $42 billion backlog, which provides all-time high levels of visibility with more than three years of trailing 12-month revenue in backlog. And kind of what does that tell us to expect elsewhere in the world as we restart? Contents: Prepared Remarks. Wall Street Breakfast: The Week Ahead 6:46AM ET 11/15/2020 Seeking Alpha. AECOM (ACM) CEO Troy Rudd on Q4 2020 Results - Earnings Call Transcript 3:18PM ET 11/16/2020 Seeking Alpha. Thanks gentlemen and stay healthy. And then with U.S. stimulus, I mean I really hope you're right, but man, the Republicans seem to be putting up a big fight on any kind of Phase four or infrastructure stimulus. And it was focused on the conversion of our earnings, EBITDA, to unlevered free cash flow. And so we feel a great sense of confidence for FY 2020 and FY 2021. In addition, we have recently closed on a $400 million delayed draw term loan. So those are the that's the principal lever that we have. Is that going to prove any competitive advantage for you guys as you move forward as the customer base I'm thinking more on the public side but maybe even private as well, accelerate and adapt to the changes that we're seeing? So people are enjoying the additional flexibility of working from home, which could in the future allow us to have a lower real estate footprint. We've certainly transformed our balance sheet after the sale of the Management Services business. Yes, certainly. I also want to highlight another accomplishment this quarter, and that is our recently announced industry-leading emissions reduction targets, which are designed to meet the goals of the Paris Agreement. Thank you for all your support, and stay safe and sane in these difficult times. And also, there is quite a bit of momentum in Washington for infrastructure stimulus. It's actually you replace some travel downtime with productive billable time while they're not traveling. I guess first of all, Andy, just in terms of our guidance, when we look forward, typically, we have six months under our belt and we're forecasting the next six months of the year. Your line is open. Zacks Investment Research - 2 months ago. Any rebroadcast of this information in whole or part without the prior written permission of AECOM is prohibited. Edited Transcript of ACM earnings conference call or presentation 3-Feb-20 5:00pm GMT. So we're highly confident that we'll be back up to full steam very quickly. And we're going to be focused on maintaining a comfortable liquidity position until we can create confidence that the market conditions are going to stabilize and there's a clear line of sight to what the future is going to hold. In fact, we've got 50,000 projects going on at any one point in time around the world. Yes. Michael S. Burke -- Chairman and Chief Executive Officer. Mike, so that all sounds pretty good. This was also contemplated in our original guidance. Compliments on the quarter, a strong first half and a really resilient outlook for the year. AECOM (NYSE:ACM) Q4 2020 Earnings Conference Call November 16, 2020 12:00 PM ET. August 6, 2019, 8:24 PM. Can you just help me understand what the free cash flow you think you can generate from that $700 million next year? And so 10 working days is meaningful if you think of 240 working days or so in a year, it's 5%-ish. Our commitment to achieving these targets marks a major milestone on our continued journey to deliver a better world. In Asia, nearly half of our offices were closed, and 90% of our workforce was working remotely at peak. 29 mins What a Covid Vaccine Means for Retail Stocks, and Why E-Commerce Didn’t Join the Rally – Barron’s Barron's 29 mins NASDAQ tumbles into the close. And we're expecting that stimulus dollars in Hong Kong will give us even more momentum there. Your guidance is implying like $700 million of free cash flow here in the rest of the fiscal year. Additionally, state and local clients are bracing for steep tax revenue declines. AECOM (ACM) Q2 2020 Earnings Call Transcript ACM earnings call for the period ending March 31, 2020. 3 months AECOM (ACM) CEO Mike Burke on Q3 2020 Results – Earnings Call Transcript Seeking Alpha ... Earnings Call Transcript Seeking Alpha . So we have a high degree of confidence in guidance where we sit today because of the seven months of the results and our the proven agility of the business and what we still can see as market opportunities. So it's a long way of saying we certainly have confidence in the future because of the low single-digit revenue growth the revenue growth we had anticipated. And Jamie, the restructuring actions that we've taken beginning last year and we continue to take this year what those are that's what's driving the margin improvement. I'll take the first part of the question. Or is this really kind of like we saw last year, a very fourth quarter type of phenomenon? And so even back in the '08 financial crisis, I could think of less than a handful of projects around the world that literally shut down for good. And as you pointed out, it's dependent upon some of the key attributes of our business. Questions and Answers. This includes exiting underperforming businesses and markets, optimizing overhead, consolidating our real estate portfolio and expanding the use of best cost design and shared service centers. Yes. With 10 million square feet of real estate, we are developing a workplace of the future strategy, which is targeted at enhancing productivity while further optimizing our operating costs. They're looking out 10, 20 years what they're going to need at JFK, for instance. I'm going to try and simplify it and by simply saying that we gave free we gave cash flow guidance at our Investor Day. Again, as we said, we see economic activity bottoming out in Q3, so we might not see the impact we typically see. And we're just going to be working through this and make sure that we gain more confidence about what's going on in the marketplace before we start trading off liquidity for repurchases. We have 150 different employees around the world working remotely on a project in Florida to get an unemployment center up and running as quickly as possible. And half of our state and local spending in the U.S. comes from five states and California, New York, Texas the real big ones. Actually, we saw a pickup in April. Just, Troy, on the free cash flow bridge, I think I missed a few things. Your next question comes from the line of Adam Thalhimer with Thompson, Davis. We've certainly won a lot of work during the last few months, and that has supported our April results. And again, to your point about what we're seeing in the marketplace is we certainly have been active in helping local governments, trying to help people through the impact of the pandemic and supporting healthcare initiatives and supporting just governments and figuring out how they work their way through this, so project management types of projects. Troy, you want to give some guidance on that? So one of the the one way to look at it is there's about 10 working days lost in Asia. So the impact, I would classify it as in the bundle of travel costs and other types of out-of-pocket amounts that we spend in the business. Market data powered by FactSet and Web Financial Group. And as we see the market stabilize, we'll become again, we'll become more confident about our ability to deliver against those future numbers. This allows us to quickly respond to changes in the market. In our construction management business, more than 85% of our projects are continuing to move forward, including more than 70% in New York despite temporary nonessential construction shutdowns. And then just a quick follow-up on the state and local budget situation. The company earned $3.57 billion during the quarter, compared to the consensus estimate of $3.34 billion. Turning to our international segment. We had been preparing for this for quite some time on the IT side. Corporate News Date Title . Great. And when we look back to '07, '08 and '09, we saw that stimulus activity coming into the market, and we certainly experienced the double-digit organic growth in '07, '08 and '09 as stimulus activity came into the market. Yes, great. Yes. So there are some things that just naturally have fallen away in the business. Half of that comes from five states that had come into this with very strong stabilization and rainy day funds. Good. And our future is built upon improvement in productivity and efficiency in the business. And you've seen the dramatic 200 basis point increase over the past couple of years on our margins. And just to the point you made a little bit earlier, I don't know where you came up with the $700 million number. Is that still active? So good question, Andy. Thanks, Mike. ... Aecom (ACM) delivered earnings and revenue surprises of -31.34% and -36.58%, respectively, for the quarter ended December 2019. Is there any stranded costs that we should be considering cash to fund some discontinued ops that we should be aware of, I guess, just to help us get a sense of where your balance sheet and leverage is now and maybe where it could look like in 2021? We are still evaluating potential candidates. AECOM (NYSE: ACM) Q3 2019 Earnings Call Aug 6, 2019, 12:00 p.m. » AECOM Technology's CEO Discusses F4Q 2011 Results - Earnings Call Transcript » AECOM Technology's CEO Discusses Q3 2011 Results - Earnings Call Transcript. The governor has said they expect to start back by May 15, although they've asked us to put forth a plan to start even earlier, which we're working on. So it's not just the cost of the airplane, checking in hotels. So how concerned are you that projects in that business could move to the right? Obviously, 70% to 75% of the business is New York and L.A., as well as you have a big focus on sports. Underlying cash generation in the quarter was mostly consistent with our expectations, and we remain confident in achieving our outlook for the full year. However, coming into this crisis, rainy day funds were at a record high, and the CARES Act and federal reserve actions are expected to deliver $700 billion of direct support. And within our Professional Services business, even as we move forward in the subsequent years, we don't see that changing. Strength was broad-based and included a greater than one book-to-burn ratio in both segments, led by several large multiyear wins in the Americas. As you know in that space, it's rare that once you get started with a construction project, it's very, very rare that it stops, the reason being is we've got financing in place that requires you to finish it. The rest of them moved forward. So let me kick that off, and then I'll ask Randy to talk about the IT investments we've made because it's been such a big facilitator of this. Yes. We are closely managing the at-risk business remaining at-risk civil business and preparing to go back out the market. So and that work is widely various. Michael Dudas -- Vertical Research -- Analyst. AECOM Technology Corporation's (ACM) CEO Mike Burke on Q4 2018 Results - Earnings Call Transcript Nov. 12, 2018 AECOM Technology Corporation 2018 Q4 - Results - Earnings Call Slides We have a history of converting EBITDA to cash flow on a fairly consistent basis. But I certainly don't want to leave anyone with the impression that's we believe that the subsequent year will look like. And to date, we've already been working with clients, utilizing these technologies and are now selling them to numerous federal, state and local as well as international government and private sector clients. I know you mentioned that 85% of your work has continued. First and foremost, we are in a fortunate position with excess liquidity at a time when liquidity is scarce. In that market, we went into this year expecting a double-digit decline in revenue going into the year because of some of the challenges and protests in Hong Kong. I will then review impacts from and our response to COVID-19. But certainly, we can see, based on the underlying attributes of the business and our confidence in the future, that there is a point in time where we're going to move away and rebalance away from liquidity and toward repurchase. And I was wondering if you could address that. Prepared Remarks: Operator. We are positioning to capitalize on substantial stimulus and emergency COVID-19 response efforts in our international markets. And then additionally, we do see, just in our business, there is a natural improvement in working capital during the course of the year. Tuesday, Aug 6, 2019 at 12:00 PM EDT Webcast Presentation. We didn't stop when we got through that first tranche, and we're not going to stop as we get through this next tranche of margin improvement opportunities. Your line is open. It allows NEPA to be performed better, faster, cheaper with greater margins. Our cash flow below our expectations for January, resulting in an approximately $ 130 million.! 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