Aecom 3rd-quarter profit rises 27 percent as design and construction management services gain

Aecom posts 27 percent jump in 3rd-quarter profit

LOS ANGELES — Engineering firm Aecom Technology Corp. on Thursday posted stronger-than-expected profit for its fiscal third quarter, boosted by gains in its unit that provides planning, design and construction management services.

For the three months ended June 30, Aecom posted net income of $64..8 million, or 56 cents per share, up 27 percent jump from $50 million, or 45 cents per share, last year. Revenue rose 6 percent to $1.64 billion, from $1.54 billion a year ago.

Analysts polled by Thomson Reuters, on average, expected profit of 55 cents per share on revenue of $1.76 billion.

The company’s professional technical services segment reported revenue growth of 6 percent to $1.34 billion. Operating income jumped 34 percent to $108 million.

Its management support servies division posted revenue of $297 million, up 4 percent from last year. Operating income slipped 2 percent to $13 million.

Aecom reiterated its guidance for the fiscal year ending Sept. 30 for profit in the range of $1.97 to $2.05. Wall Street expects annual profit of $2.04 per share, on average, with estimates ranging from $2.01 to $2.08.

Separately, Aecom announced it will buy privately held project management consultant Davis Langdon for $324 million and national security and intelligence services firm McNeil Technologies Inc. for $355 million.

Aecom shares slipped 7 cents to $25.15 in afternoon trading.