DALLAS - AECOM (NYSE:ACM), a global infrastructure consulting firm, has been awarded a contract by the U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA) to provide advisory and program management services. This contract is focused on supporting FEMA’s Public Assistance grant program through the agency's four Consolidated Resource Centers (CRCs) located in Virginia, Texas, California, and Puerto Rico.
The contract, which includes a base period of one year with the possibility of two additional one-year extensions, will see AECOM assisting in the repair and replacement of public infrastructure damaged by catastrophic events. The company's role will be to validate, consolidate, collate, and review infrastructure projects, as well as to provide technical support for Environmental Planning and Historical Preservation (EHP) and insurance matters.
Lara Poloni, President of AECOM, emphasized that the company's work will align with their Sustainable Legacies strategy and commitment to building a better world. She stated that AECOM's expertise positions them to effectively bring the program to completion. The initiative is expected to enable quicker community recovery post-disasters by streamlining the delivery of federal grants.
Karl Jensen, AECOM's Executive Vice President of National Governments, highlighted the company's four-decade history of collaboration with FEMA on community resilience. He noted AECOM's skilled technical staff and their dedication to FEMA's mission as key factors in enhancing the grant delivery process to construct more resilient infrastructure nationwide.
AECOM describes itself as a firm driven by a common purpose to deliver a better world, with a focus on equity, diversity, inclusion, and environmental, social, and governance priorities. The company reported revenues of $14.4 billion in the fiscal year 2023 and is included in the Fortune 500 list.
The information for this article is based on a press release statement.
InvestingPro Insights
As AECOM (NYSE:ACM) secures a pivotal contract with FEMA, its financial health and market performance provide a broader context for investors considering the company's future prospects. According to InvestingPro data, AECOM's market capitalization stands at a robust 11.89 billion USD, reflecting the market's valuation of the company. The firm's revenue growth, which has been solid over the last twelve months as of Q2 2024, shows an increase of 13.36%, indicating a positive trajectory in its business operations.
Investors looking at profitability metrics will note AECOM's gross profit margin at 6.56% for the same period, a figure that showcases the company's ability to manage its cost of goods sold effectively. Furthermore, the company's dividend growth of 22.22% signals a commitment to returning value to shareholders, aligning with AECOM's Sustainable Legacies strategy that emphasizes long-term stakeholder engagement.
For those considering an investment, an InvestingPro Tip suggests looking at the P/E ratio adjusted for the last twelve months as of Q2 2024, which stands at 20.11. This could indicate the company's earnings relative to its share price are at a more reasonable level after accounting for exceptional items. Additionally, with AECOM's fair value estimated at 94.78 USD by InvestingPro, compared to the previous close price of 85.86 USD, investors might find the current price an attractive entry point.
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