Our non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial information determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of these non-GAAP measures is found in the Regulation G Information tables at the back of this release.
When we provide our long term projections for organic revenue growth, adjusted EBITDA, pro forma Professional Services adjusted EBITDA, adjusted EPS and free cash flow on a forward-looking basis, the closest corresponding GAAP measure and a reconciliation of the differences between the non-GAAP expectation and the corresponding GAAP measure generally is not available without unreasonable effort due to the length, high variability, complexity and low visibility associated with the non-GAAP expectation projected against the multi-year forecast which could significantly impact the GAAP measure.
|
AECOM |
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|
Consolidated Statements of Income |
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|
(in thousands, except per share data) |
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|
|
|||||||||||||||||||||||
|
|
|
Three Months Ended |
|
Twelve Months Ended |
|
||||||||||||||||||
|
|
|
Sep 30,
|
|
Sep 30,
|
|
%
|
|
Sep 30,
|
|
Sep 30,
|
|
%
|
|
||||||||||
|
Revenue |
|
$ |
|
5,305,850 |
|
$ |
|
5,115,608 |
|
(3.6 |
)% |
|
$ |
|
20,155,512 |
|
$ |
|
20,173,329 |
|
0.1 |
% |
|
|
Cost of revenue |
|
|
5,117,804 |
|
|
4,877,382 |
|
(4.7 |
)% |
|
|
19,504,863 |
|
|
19,359,884 |
|
(0.7 |
)% |
|
||||
|
Gross profit |
|
|
188,046 |
|
|
238,226 |
|
26.7 |
% |
|
|
650,649 |
|
|
813,445 |
|
25.0 |
% |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Equity in earnings of joint ventures |
|
|
25,512 |
|
|
13,960 |
|
(45.3 |
)% |
|
|
81,133 |
|
|
80,990 |
|
(0.2 |
)% |
|
||||
|
General and administrative expenses |
|
|
(35,741 |
) |
|
(37,256 |
) |
4.2 |
% |
|
|
(135,787 |
) |
|
(148,123 |
) |
9.1 |
% |
|
||||
|
Restructuring costs |
|
— |
|
|
(16,276 |
) |
NM* |
|
|
— |
|
|
(95,446 |
) |
NM |
|
|
||||||
|
Loss on disposal activities |
|
|
(800 |
) |
|
(2,977 |
) |
272.1 |
% |
|
|
(2,949 |
) |
|
(10,381 |
) |
252.0 |
% |
|
||||
|
Impairment of long-lived assets, including goodwill |
|
— |
|
|
(615,400 |
) |
NM |
|
|
|
(168,178 |
) |
|
(615,400 |
) |
265.9 |
% |
|
|||||
|
Income (loss) from operations |
|
|
177,017 |
|
|
(419,723 |
) |
(337.1 |
)% |
|
|
424,868 |
|
|
25,085 |
|
(94.1 |
)% |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Other income |
|
|
2,593 |
|
|
4,040 |
|
55.8 |
% |
|
|
20,135 |
|
|
16,789 |
|
(16.6 |
)% |
|
||||
|
Interest expense |
|
|
(55,564 |
) |
|
(56,376 |
) |
1.5 |
% |
|
|
(267,519 |
) |
|
(225,994 |
) |
(15.5 |
)% |
|
||||
|
Income (loss) before income tax expense (benefit) |
|
|
124,046 |
|
|
(472,059 |
) |
(480.6 |
)% |
|
|
177,484 |
|
|
(184,120 |
) |
(203.7 |
)% |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Income tax expense (benefit) |
|
|
18,719 |
|
|
(24,076 |
) |
(228.6 |
)% |
|
|
(19,643 |
) |
|
(130 |
) |
(99.3 |
)% |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Net income (loss) |
|
|
105,327 |
|
|
(447,983 |
) |
(525.3 |
)% |
|
|
197,127 |
|
|
(183,990 |
) |
(193.3 |
)% |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Noncontrolling interests in income of consolidated subsidiaries, net of tax |
|
|
(21,350 |
) |
|
(26,169 |
) |
22.6 |
% |
|
|
(60,659 |
) |
|
(77,060 |
) |
27.0 |
% |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Net income (loss) attributable to AECOM |
|
$ |
|
83,977 |
|
$ |
|
(474,152 |
) |
(664.6 |
)% |
|
$ |
|
136,468 |
|
$ |
|
(261,050 |
) |
(291.3 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Net income (loss) attributable to AECOM per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Basic |
|
$ |
|
0.53 |
|
$ |
|
(3.01 |
) |
(667.9 |
)% |
|
$ |
|
0.86 |
|
$ |
|
(1.66 |
) |
(293.0 |
)% |
|
|
Diluted |
|
$ |
|
0.52 |
|
$ |
|
(3.01 |
) |
(678.8 |
)% |
|
$ |
|
0.84 |
|
$ |
|
(1.66 |
) |
(297.6 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Basic |
|
|
158,605 |
|
|
157,709 |
|
(0.6 |
)% |
|
|
159,101 |
|
|
157,044 |
|
(1.3 |
)% |
|
||||
|
Diluted |
|
|
161,765 |
|
|
157,709 |
|
(2.5 |
)% |
|
|
162,261 |
|
|
157,044 |
|
(3.2 |
)% |
|
||||
|
* NM — Not Meaningful |
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