AECOM (ACM) Q3 FY26 earnings call

AECOM reported a quarter marked by record backlog and strong design business growth, particularly in the Americas and International segments, driven by large program wins. However, results were overshadowed by a significant $337 million charge and reduced free cash flow guidance due to delays and cost overruns on two legacy construction management projects. Management emphasized tightened risk controls and a shift away from such projects, while maintaining confidence in the long-term growth algorithm and margin expansion.