NEW YORK - AECOM (NYSE:ACM), a global infrastructure consulting firm, has been appointed as the Lead Designer for the replacement of two aging bridges along the Bronx River Parkway, a project initiated by the New York State Department of Transportation (NYSDOT). The design-build team, which includes Yonkers Contracting Company, Inc. and AECOM, will focus on enhancing safety and traffic flow in the region.
The two bridges, originally constructed in 1951, are nearing the end of their service lives and will be replaced with modern structures. This upgrade is part of a broader effort to improve infrastructure resilience and connectivity between East Tremont Avenue and Bronx Park. The project is partially funded by the Infrastructure Investment and Jobs Act, with over $200 million allocated to the initiative.
AECOM's role encompasses comprehensive design and engineering services for the replacement and widening of the Bronx River Parkway South and Northbound bridges.
The new bridges are set to include features such as redundant steel girders, stainless-steel reinforced concrete decks, and fewer bridge joints to minimize maintenance costs and enhance durability against climate change and severe weather.
The project will also introduce a new shared-use path for cyclists and pedestrians, linking to the Bronx River Greenway, and a dedicated southbound exit ramp to East 177th Street to reduce traffic congestion. The design plans are aimed at creating safe, efficient, and durable structures that meet the needs of the 21st century.
In addition to the bridge replacements, the project will see the installation of new stormwater drainage facilities, updated curbs, ramps, and sidewalks compliant with the Americans with Disabilities Act standards, and the resurfacing of Morris Park Avenue and sections of the Bronx River Parkway.
AECOM, a Fortune 500 firm with a revenue of $14.4 billion in fiscal year 2023, has a history of working on significant design-build projects in New York, including the Governor Mario M. Cuomo Bridge.
The company emphasizes its commitment to delivering sustainable legacies and leveraging its technical and digital expertise to support public and private sector clients.
The information in this article is based on a press release statement from AECOM.
InvestingPro Insights
As AECOM (NYSE:ACM) embarks on the ambitious project to replace two key bridges along the Bronx River Parkway, the company's financial health and market performance are crucial for investors monitoring the stock. According to recent data from InvestingPro, AECOM boasts a substantial market capitalization of $12.95 billion, reflecting its significant presence in the infrastructure consulting sector. Despite a high Price/Earnings (P/E) ratio of 51.34, the adjusted P/E ratio for the last twelve months as of Q3 2024 stands at a more modest 22.38, suggesting a more favorable valuation when considering near-term earnings growth.
InvestingPro Tips highlight that AECOM is expected to see net income growth this year, a positive sign for investors looking for profitability. Additionally, the company has been identified as a prominent player in the Construction & Engineering industry, which may provide a competitive edge in securing and executing large-scale projects like the Bronx River Parkway bridges replacement. With 22 additional tips available on InvestingPro, investors have access to a wealth of information to guide their investment decisions.
From a performance standpoint, AECOM has demonstrated significant returns, with a one-week price total return of 11.47% as of the latest data, underscoring the company's strong short-term performance. This is in line with the solid revenue growth of 13.43% over the last twelve months as of Q3 2024, indicating the company's ability to expand its operations effectively.
In summary, AECOM's involvement in the NYSDOT bridge replacement project is backed by robust financial metrics and market performance, as evidenced by the latest InvestingPro data. Investors looking to delve deeper into AECOM's financials and market outlook can find more detailed analysis and tips at InvestingPro's dedicated AECOM page.
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