Aecom Technology Corp.’s fourth-quarter earnings rose 25 percent, but the company said the upcoming year might not meet analysts’ forecasts.
The Los Angeles engineering and design company on Thursday reported net income of $67.8 million (58 cents per share) for the quarter ended Sept. 30, compared with $54.3 million (48 cents) a year earlier. Revenue rose 12 percent to $1.83 billion, with technical-services revenue up 15 percent.
Analysts surveyed by Thomson Reuters on average expected the company to report per-share earnings of 56 cents on revenue of $1.89 billion.
For the full fiscal year, Aecom’s net income rose 20 percent to nearly $237 million ($2.05). The company said its backlog at the end the fiscal year was $14.7 billion, 55 percent more than a year earlier and boosted by business from its five acquisitions over the past year.
“We closed the year with improving organic growth, increased operating margins, record backlog … and a strong balance sheet to fund future growth,” Chief Executive Michael S. Burke said in a statement. “We are excited about the opportunities that we see ahead for Aecom as we complete the integration of our recent acquisitions and continue to pursue new opportunities around the globe.”
Even so, the company said it expects to earn between $2.20 and $2.30 per share in the next fiscal year, at the low end of the Wall Street consensus of $2.30.
Shares were down 34 cents, or 1.2 percent, to $27.61 on the New York Stock Exchange.