Professional Services - Engineering, Design & Consulting
Strategic Profile
AECOM reported record first quarter net service revenue, adjusted EBITDA, margins, and backlog. The company focuses on early-cycle advisory, design, and management services limiting construction risk, and targets 5–8% NSR CAGR and >20% margins by 2029.
Cyborg Score Rationale
AECOM reported record Q1 2026 results with backlog increased by 9% to a new all-time high. AI investments are expected to enhance productivity and profitability, similar to past technological advancements. Macro headwinds are minimal given structural infrastructure demand.
Top Insights
Record Q1 2026 backlog of $25.96B (+9% YoY) with 21st consecutive quarter achieving >1.0 book-to-burn ratio signals strong visibility
Organic NSR guidance raised to 6-8% for FY2026; adjusted EPS guidance increased to $5.85-$6.05 reflecting margin expansion and operational efficiencies
Major contract wins include Brisbane 2032 Olympics delivery partnership (~$5B AUD) and Scottish Water multi-billion-dollar Enterprise Alliance program
Data center practice grew 50% in FY2025; private-facing business expanding with 80% win rate on largest pursuits; AI for Engineering platform driving competitive advantage
Named Competitors
Engineering Services — Diversified engineering and construction services
Design and Consulting — Infrastructure engineering and consulting
Professional Services — Architecture, engineering, and consulting
Consulting Services — Engineering and professional services
Recent Developments
(February 2026) Raised FY2026 adjusted EPS guidance to $5.85-$6.05 and increased share repurchase authorization to $1B
(January 2026) Named to Fortune World's Most Admired Companies list for 12th consecutive year; ranked #1 overall design firm by ENR
(December 2025) Selected as preferred bidder for Scottish Water's multi-billion-dollar Enterprise Alliance program
(February 2026) Completed strategic review and decided to retain Construction Management business as continuing operation
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