ACM - AECOM: Secular Growth In Infrastructure Demand Makes It A Buy
2024-05-15 09:06:03 ET
Summary
- AECOM is winning multi-billion dollar infrastructure projects, with a surge in new contract awards in recent months.
- The company's revenue is growing, with a steady uptrend and a 10% YoY growth guidance for 2024.
- AECOM has a strong order backlog, low debt and cash on the balance sheet.
Introduction
I have decided to start a position in AECOM (ACM), the market leader in the Infrastructure Management and Advisory business. The specialist areas in which they operate have been resilient to the market gyrations occurring in the construction industry since the turmoil of 2020. With many major infrastructure projects deferred, in some cases by decades, as I discovered whilst researching for a recent article , the delay in these infrastructure works has created a surge in new contract awards for AECOM in recent months....
AECOM: Secular Growth In Infrastructure Demand Makes It A Buy