NYSE:ACMConstruction
AECOM (ACM) Stock Slides After Project Charge Triggers Quarterly Loss
AECOM walked into this earnings season wearing the label of an underappreciated infrastructure play with solid long term growth credentials. Today the market slammed the stock anyway. The share price dropped 8.5% to about $67 after the company reported a quarterly loss and booked a heavy $337m pretax charge on a troubled construction management project.
For investors, the headline is simple. AECOM just posted a sharp earnings hit driven by one project, while still pointing to record backlog...