Equity Profile

ACM

AECOM

IndustrialsConstruction & Engineering$9.1B

Aug3Mon

Pre-Earnings Brief

UpcomingQ3-2026After Close5:00 PM EDT

Company Snapshot

AECOM (ACM) is a global leader in construction and engineering, providing essential services for infrastructure projects. With a market cap of $9 billion, the company plays a critical role in sectors like transportation, water, and environmental services, which are increasingly important as governments and businesses invest in sustainable development.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of AECOM's profitability and financial health, which investors will closely monitor this quarter.

N/A

Revenue Growth

Revenue growth reflects the company's ability to secure new projects and expand its market share, crucial for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ACM Q3-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+4.62%

Avg Stock Reaction

-0.49%

Last Quarter Recap

In Q2-2026, AECOM reported an EPS of $1.59, slightly beating expectations. However, the stock fell 1.35% the following day, reflecting market concerns despite the earnings beat.

Management Promises & Guidance

Management emphasized their commitment to sustainable infrastructure projects.
They highlighted ongoing efforts to improve operational efficiency.
The company reiterated its focus on securing new contracts in key markets.

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about AECOM's upcoming earnings, given its history of beating EPS estimates. However, concerns about revenue growth and project execution remain prevalent.

Bull Case

If AECOM can demonstrate strong revenue growth and a robust project backlog, it could signal a positive trend in infrastructure spending, driving the stock higher.

Bear Case

Conversely, if the company fails to meet revenue expectations or shows signs of project delays, it could lead to a significant sell-off.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current project backlog and how does it compare to previous quarters?

A growing backlog would indicate strong future revenue potential, while a decline could raise concerns about future growth.

Can AECOM provide clarity on revenue growth expectations for the upcoming quarters?

Clear guidance on revenue growth will help investors assess the company's operational health and market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate AECOM's ability to capitalize on increased infrastructure spending, especially in sustainable projects.

Supporting Evidence

AECOM has a strong track record of beating EPS estimates, with an 88% success rate over the last eight quarters.

The options market is pricing in a significant move, indicating expectations of volatility that could favor a positive outcome.

Management's focus on operational efficiency could lead to better-than-expected margins.

Key Risk

If the project backlog shows significant growth, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on AECOM's ability to maintain or grow its project backlog and provide positive revenue guidance amidst a competitive market.

Bull Confirmed If

A project backlog increase of over 10% compared to the last quarter would confirm the bullish case.

Bear Confirmed If

A decline in project backlog or revenue guidance below previous levels would confirm the bearish case.

Pre-Earnings Positioning

Options Market

Implied Move

±16.05%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±16.3% while ACM has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

43.1%

Calls (5K)P/C Ratio: 1.15Puts (3K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If AECOM beats expectations and raises guidance, history suggests the stock could rise by around 1.61% on the following trading day.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may see a muted reaction.

Miss

If AECOM misses expectations, history suggests a potential drop of around 1.65% the next day.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the project backlog and any new contract wins.
2Management's commentary on revenue growth expectations for the upcoming quarters.
3Insights into operational efficiency improvements and cost management.
4Any details on market trends impacting infrastructure spending.
5Clarification on the company's strategy for sustainable projects.

See the full picture

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of AECOM's profitability and financial health, which investors will closely monitor this quarter.

N/A

Revenue Growth

Revenue growth reflects the company's ability to secure new projects and expand its market share, crucial for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ACM Q3-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+4.62%

Avg Stock Reaction

-0.49%

Last Quarter Recap

In Q2-2026, AECOM reported an EPS of $1.59, slightly beating expectations. However, the stock fell 1.35% the following day, reflecting market concerns despite the earnings beat.

Management Promises & Guidance

Management emphasized their commitment to sustainable infrastructure projects.
They highlighted ongoing efforts to improve operational efficiency.
The company reiterated its focus on securing new contracts in key markets.

Expectations

Wall Street Expectations

Bull Case

If AECOM can demonstrate strong revenue growth and a robust project backlog, it could signal a positive trend in infrastructure spending, driving the stock higher.

Bear Case

Conversely, if the company fails to meet revenue expectations or shows signs of project delays, it could lead to a significant sell-off.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current project backlog and how does it compare to previous quarters?

A growing backlog would indicate strong future revenue potential, while a decline could raise concerns about future growth.

Can AECOM provide clarity on revenue growth expectations for the upcoming quarters?

Clear guidance on revenue growth will help investors assess the company's operational health and market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate AECOM's ability to capitalize on increased infrastructure spending, especially in sustainable projects.

Supporting Evidence

AECOM has a strong track record of beating EPS estimates, with an 88% success rate over the last eight quarters.

The options market is pricing in a significant move, indicating expectations of volatility that could favor a positive outcome.

Management's focus on operational efficiency could lead to better-than-expected margins.

Key Risk

If the project backlog shows significant growth, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on AECOM's ability to maintain or grow its project backlog and provide positive revenue guidance amidst a competitive market.

Bull Confirmed If

A project backlog increase of over 10% compared to the last quarter would confirm the bullish case.

Bear Confirmed If

A decline in project backlog or revenue guidance below previous levels would confirm the bearish case.

Pre-Earnings Positioning

Options Market

Implied Move

±16.05%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±16.3% while ACM has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

43.1%

Calls (5K)P/C Ratio: 1.15Puts (3K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If AECOM beats expectations and raises guidance, history suggests the stock could rise by around 1.61% on the following trading day.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may see a muted reaction.

Miss

If AECOM misses expectations, history suggests a potential drop of around 1.65% the next day.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the project backlog and any new contract wins.
2Management's commentary on revenue growth expectations for the upcoming quarters.
3Insights into operational efficiency improvements and cost management.
4Any details on market trends impacting infrastructure spending.
5Clarification on the company's strategy for sustainable projects.