SEC Filings

10-Q
AECOM filed this Form 10-Q on 02/06/2019
Entire Document
 

Table of Contents

 

Gross Profit

 

Gross profit for our DCS segment for the three months ended December 31, 2018 increased $37.9 million, or 48.7%, to $115.7 million as compared to $77.8 million for the corresponding period last year. As a percentage of revenue, gross profit increased to 5.7% of revenue for the three months ended December 31, 2018 from 4.0% in the corresponding period last year.

 

The increases in gross profit and gross profit as a percentage of revenue for the quarter ended December 31, 2018 were primarily due to increased revenues in the Americas, including the residential housing disaster relief program discussed above and severance costs in the prior period.

 

Construction Services

 

 

 

Three Months Ended

 

 

 

December 31,

 

December 31,

 

Change

 

 

 

2018

 

2017

 

$

 

%

 

 

 

(in millions)

 

Revenue

 

$

2,014.5

 

$

2,125.5

 

$

(111.0

)

(5.2

)%

Cost of revenue

 

2,011.3

 

2,098.4

 

(87.1

)

(4.2

)

Gross profit

 

$

3.2

 

$

27.1

 

$

(23.9

)

(88.2

)%

 

The following table presents the percentage relationship of statement of operations items to revenue:

 

 

 

Three Months Ended

 

 

 

December 31,
2018

 

December 31,
2017

 

Revenue

 

100.0

%

100.0

%

Cost of revenue

 

99.8

 

98.7

 

Gross profit

 

0.2

%

1.3

%

 

Revenue

 

Revenue for our CS segment for the three months ended December 31, 2018 decreased $111.0 million, or 5.2%, to $2,014.5 million as compared to $2,125.5 million for the corresponding period last year.

 

The decrease in revenue for the three months ended December 31, 2018 was primarily attributable to approximately $70 million in decreased revenue from our power business and approximately $60 million in decreased revenue from the construction of residential high-rise buildings in the city of New York.

 

Gross Profit

 

Gross profit for our CS segment for the three months ended December 31, 2018 decreased $23.9 million, or 88.2%, to $3.2 million as compared to $27.1 million for the corresponding period last year. As a percentage of revenue, gross profit decreased to 0.2% of revenue for the three months ended December 31, 2018 from 1.3% in the corresponding period last year.

 

The decreases in gross profit and gross profit as a percentage of revenue for the three months ended December 31, 2018 were primarily due to project performance on a power contract in the United States in the three months ended December 31, 2017 that did not repeat in the current period.

 

Management Services

 

 

 

Three Months Ended

 

 

 

December 31,

 

December 31,

 

Change

 

 

 

2018

 

2017

 

$

 

%

 

 

 

(in millions)

 

Revenue

 

$

989.4

 

$

843.4

 

$

146.0

 

17.3

%

Cost of revenue

 

941.6

 

812.1

 

129.5

 

15.9

 

Gross profit

 

$

47.8

 

$

31.3

 

$

16.5

 

52.7

%

 

33