SEC Filings

8-K
AECOM filed this Form 8-K on 05/08/2018
Entire Document
 

 

AECOM

Consolidated Statements of Income

(unaudited - in thousands, except per share data)

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

March 31,
2017

 

March 31,
2018

 

%
Change

 

March 31,
2017

 

March 31,
2018

 

%
Change

 

Revenue

 

$

4,427,198

 

$

4,790,910

 

8.2

%

$

8,785,547

 

$

9,701,742

 

10.4

%

Cost of revenue

 

4,258,754

 

4,649,638

 

9.2

%

8,447,130

 

9,424,318

 

11.6

%

Gross profit

 

168,444

 

141,272

 

(16.1

)%

338,417

 

277,424

 

(18.0

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of joint ventures

 

21,738

 

13,038

 

(40.0

)%

43,209

 

42,758

 

(1.0

)%

General and administrative expenses

 

(29,844

)

(30,217

)

1.2

%

(62,483

)

(64,887

)

3.8

%

Impairment of assets held for sale, including goodwill

 

 

(168,178

)

NM

 

 

(168,178

)

NM

 

Acquisition & integration expenses

 

(19,997

)

 

(100.0

)%

(35,409

)

 

(100.0

)%

Gain on disposal activities

 

572

 

 

(100.0

)%

572

 

 

(100.0

)%

Income (loss) from operations

 

140,913

 

(44,085

)

(131.3

)%

284,306

 

87,117

 

(69.4

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income

 

1,241

 

12,507

 

NM

 

2,101

 

14,790

 

NM

 

Interest expense

 

(61,801

)

(100,577

)

62.7

%

(115,438

)

(156,742

)

35.8

%

Income (loss) before income tax benefit

 

80,353

 

(132,155

)

(264.5

)%

170,969

 

(54,835

)

(132.1

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax benefit

 

(35,487

)

(24,400

)

(31.2

)%

(10,649

)

(71,493

)

571.4

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

115,840

 

(107,755

)

(193.0

)%

181,618

 

16,658

 

(90.8

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling interests in income of consolidated subsidiaries, net of tax

 

(13,444

)

(11,978

)

(10.9

)%

(32,043

)

(25,077

)

(21.7

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to AECOM

 

$

102,396

 

$

(119,733

)

(216.9

)%

$

149,575

 

$

(8,419

)

(105.6

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to AECOM per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.66

 

$

(0.75

)

(213.6

)%

$

0.97

 

$

(0.05

)

(105.2

)%

Diluted

 

$

0.65

 

$

(0.75

)

(215.4

)%

$

0.94

 

$

(0.05

)

(105.3

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

155,366

 

159,495

 

2.7

%

154,810

 

158,702

 

2.5

%

Diluted

 

158,650

 

159,495

 

0.5

%

158,322

 

158,702

 

0.2

%

 

Balance Sheet and Cash Flow Information

(unaudited - in thousands)

 

 

 

September 30, 2017

 

March 31, 2018

 

Balance Sheet Information:

 

 

 

 

 

Total cash and cash equivalents

 

$

802,362

 

$

867,225

 

Accounts receivable — net

 

5,127,743

 

5,208,918

 

Working capital

 

1,103,843

 

1,282,119

 

Total debt, excluding unamortized debt issuance costs

 

3,896,398

 

3,999,140

 

Total assets

 

14,396,956

 

14,617,332

 

Total AECOM stockholders’ equity

 

3,996,126

 

4,040,752

 

 

5