Duyuru • Nov 11
Hill International, Inc. announced delayed 10-Q filing On 11/10/2022, Hill International, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Sep 29
Hill International, Inc. Announces Resignation of Arnaud Ajdler as Director On September 25, 2022, Arnaud Ajdler notified the Board of Directors (the “Board”) of Hill International, Inc. (the “Company”) of his intention to resign as a director of the Company, effective September 25, 2022. Mr. Ajdler also resigned his positions on the Board’s Compensation Committee and Governance and Nominating Committee. Duyuru • Aug 18
Global Infrastructure Solutions Inc. entered into an agreement to acquire Hill International, Inc. (NYSE:HIL) from Engine Capital Management, LP and others for approximately $170 million. Global Infrastructure Solutions Inc. entered into an agreement to acquire Hill International, Inc. (NYSE:HIL) from Engine Capital Management, LP and others for approximately $170 million on August 16, 2022. Under the terms of the merger agreement, Global Infrastructure Solutions Inc. (GISI) will commence an all-cash tender offer to acquire 100% of the issued and outstanding shares of Hill for $2.85 per share in cash. Following the successful completion of the tender offer, GISI will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. Upon completion of the transaction, Hill’s shares will no longer trade on the New York Stock Exchange, and Hill will be privately held company under the banner of GISI. Hill International Chief Executive Officer, Raouf Ghali and the entire Hill team will be joining Global Infrastructure Solutions Inc.
The transaction has been unanimously approved by Hill's Board of Directors and was also approved by the Board of Directors of GISI. Closing of the transaction is subject to satisfaction of certain conditions, including the tender of shares representing at least a majority of the total number of Hill’s outstanding shares, receipt of required antitrust clearance, regulatory review and other customary conditions. Closing of the transaction is not subject to a financing condition. The merger agreement contemplates that the parties may elect to effectuate the transaction as a one-step merger, in which case Hill would seek stockholder approval of the transaction, instead of as a tender offer followed by a second-step merger. Engine Capital, which holds approximately 10% of the common shares outstanding, has agreed to tender their shares in the offering. The transaction is expected to close in the fourth quarter of 2022.
Houlihan Lokey acted as financial advisor and Darrick M. Mix, Peter Visalli and Justin A. Santarosa of Duane Morris LLP acted as legal advisor to Hill International. UBS Investment Bank acted as financial advisor and John-Paul Motley and Steven Tonsfeldt of Cooley LLP acted as legal advisor to GISI. Reported Earnings • Aug 10
Second quarter 2022 earnings released: EPS: US$0.025 (vs US$0.009 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.025 (up from US$0.009 loss in 2Q 2021). Revenue: US$105.7m (up 36% from 2Q 2021). Net income: US$1.43m (up US$1.92m from 2Q 2021). Profit margin: 1.4% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Duyuru • Aug 02
Hill International, Inc. to Report Q2, 2022 Results on Aug 09, 2022 Hill International, Inc. announced that they will report Q2, 2022 results After-Market on Aug 09, 2022 Board Change • Aug 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Jim Renacci was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jul 20
Huckabee Architects Inc made an offer to acquire Hill International, Inc. (NYSE:HIL) for approximately $110 million. Huckabee Architects Inc made an offer to acquire Hill International, Inc. (NYSE:HIL) for approximately $110 million on July 19, 2022. Huckabee Architects LP portfolio company of Godspeed Capital Management LP sent the letter to the Board of Directors of Hill International, Inc., proposing to acquire Hill International for $1.85 per share in cash. The definitive merger agreement would not include a financing or due diligence condition. Board Change • Jul 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Jim Renacci was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jun 02
Hill International, Inc., Annual General Meeting, Jul 06, 2022 Hill International, Inc., Annual General Meeting, Jul 06, 2022, at 10:00 US Eastern Standard Time. Location: One Commerce Square, 2005 Market Street, 17th Floor, Philadelphia, Pennsylvania 19103 Pennsville United States Agenda: To discuss APPROVAL OF AMENDMENTS TO CERTIFICATE OF INCORPORATION TO DECLASSIFY THE BOARD; and to consider ELECTION OF DIRECTORS. Reported Earnings • May 12
First quarter 2022 earnings released: US$0.009 loss per share (vs US$0.047 loss in 1Q 2021) First quarter 2022 results: US$0.009 loss per share (up from US$0.047 loss in 1Q 2021). Revenue: US$102.2m (up 41% from 1Q 2021). Net loss: US$544.0k (loss narrowed 80% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 02
Full year 2021 earnings released: US$0.075 loss per share (vs US$0.14 loss in FY 2020) Full year 2021 results: US$0.075 loss per share (up from US$0.14 loss in FY 2020). Revenue: US$377.4m (up 27% from FY 2020). Net loss: US$4.27m (loss narrowed 48% from FY 2020). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS US$0.022 (vs US$0.037 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$96.6m (up 35% from 3Q 2020). Net income: US$1.26m (down 40% from 3Q 2020). Profit margin: 1.3% (down from 3.0% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Duyuru • Aug 12
Hill International, Inc. Reiterates Earnings Guidance for the Full Year 2021 Hill International, Inc. reiterated earnings guidance for the full year 2021. For the year, consulting fee revenue is expected to range between $320 million - $330 million, representing an increase of between 8% - 11% from 2020. This increase is expected to consist of both new awards and extensions of existing contracts. Reported Earnings • Aug 12
Second quarter 2021 earnings released: US$0.009 loss per share (vs US$0.035 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$77.7m (up 2.5% from 2Q 2020). Net loss: US$493.0k (loss narrowed 75% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • May 11
First quarter 2021 earnings released: US$0.047 loss per share (vs US$0.12 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$87.1m (up 13% from 1Q 2020). Net loss: US$2.69m (loss narrowed 59% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 18
Full year 2020 earnings released: US$0.14 loss per share (vs US$0.25 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$368.5m (up 19% from FY 2019). Net loss: US$8.18m (down 158% from profit in FY 2019). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Duyuru • Mar 17
Hill International, Inc. Provides Revenue Guidance for the Financial Year 2021 Hill International, Inc. provided revenue guidance for the financial year 2021. For the year, the company expects consulting fee revenue to be in the range of $320 million to $330 million, representing an increase of between 8% to 11% from 2020. This increase is expected to consist of both new awards and extensions of existing contracts. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improved over the past week After last week's 18% share price gain to US$2.95, the stock is trading at a trailing P/E ratio of 29.3x, up from the previous P/E ratio of 24.9x. This compares to an average P/E of 27x in the Professional Services industry in the US. Total return to shareholders over the past three years is a loss of 50%. Is New 90 Day High Low • Mar 10
New 90-day high: US$2.89 The company is up 48% from its price of US$1.95 on 09 December 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is flat over the same period. Duyuru • Mar 03
Hill International to Provide Project Management Services for the Waterfront Urban Regeneration Project in Europe Hill International, Inc. announced that it was awarded a contract by LAMDA Development to provide Project Management Consulting (PMC) services for the Infrastructure and Landscape Program of the Hellinikon Project, Europe's largest waterfront urban regeneration program. Duyuru • Mar 02
Hill International, Inc. to Report Q4, 2020 Results on Mar 16, 2021 Hill International, Inc. announced that they will report Q4, 2020 results After-Market on Mar 16, 2021 Duyuru • Feb 25
Hill International’s Support to Continue on Essentia Health’s $900 Million Vision Northland Medical Campus With New Task Order Award Hill International announced that it was awarded a third task order to provide owner's representative services for the completion of the clinical activation of Essentia Health's medical campus in downtown Duluth, MN. The project is expected to complete construction in the first quarter of 2023 and open for patient care by the third quarter of 2023. The $900 million Vision Northland project involves building a replacement hospital for St. Mary's Medical Center and clinic space, as well as the renovation of significant clinic spaces. In total, the project will deliver approximately 942,000 SF of new facilities and a substantial amount of renovated facilities. Ultimately, the project will provide state-of-the-art medical facilities to meet the needs of patients and their families from across northern Minnesota and Wisconsin, and beyond. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 17% share price gain to US$2.70, the stock is trading at a trailing P/E ratio of 26.8x, up from the previous P/E ratio of 22.9x. This compares to an average P/E of 27x in the Professional Services industry in the US. Total return to shareholders over the past three years is a loss of 50%. Is New 90 Day High Low • Feb 06
New 90-day high: US$2.39 The company is up 76% from its price of US$1.36 on 06 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 8.0% over the same period. Duyuru • Jan 29
Hill International Promotes Tiffany Harmon Banks to Senior Vice President of Human Resources Hill International announced the promotion of Tiffany Harmon Banks to Senior Vice President of Human Resources. Ms. Banks has more than 20 years of HR experience and has worked in Hill’s corporate headquarters since 2008. She was formerly Vice President of Human Resources at Hill, where she oversees HR policies and procedures development, benefit management, organizational design and leadership, compensation administration, the company’s human resource information system, and retention initiatives throughout the Americas. Duyuru • Jan 22
Hill International Grows Texas Municipal Business with Multiple Assignments in Booming New Braunfels Hill International, Inc. announced that it was awarded multiple assignments to provide construction oversight, inspection, and coordination for several municipal projects in the City of New Braunfels, Texas. These projects include two new Fire Stations as well as a new Police Station inclusive of a Veterans Memorial. These projects were awarded through an Indefinite Delivery-Indefinite Quantity contract. New Braunfels, home to more than 90,000 residents, is located near San Antonio. The city is known for the presence of the Comal and Guadalupe rivers, which wind past leafy parks like Landa and Cypress Bend. According to U.S. Census figures, New Braunfels’ population has boomed over the past decade, prompting investments into new public facilities of all types. To support this growth, the Hill team will help ensure all work materials, structures, equipment, and workmanship for the City’s new buildings comply with contract documents, manage change orders, and verify contractors maintain good construction practices and professional standards prevailing in the local City, County, and State of Texas. The New Braunfels projects are indicative of Hill’s growing work with municipal clients across the state. This includes a new animal shelter for the City of Baytown and bond program support for the City of Richardson. Duyuru • Jan 13
Tatweer Building Company Selects Hill International as FM Managing Consultancy Hill International announced it was awarded the contract to provide Facilities Management (FM) consultancy services to act as the Managing Agent for the Tatweer Building Company (TBC), which represents the Saudi Ministry of Education. This award consists of three main projects: two prestigious headquarters buildings in Riyadh, Riyadh Schools and associated administrative buildings, which consist of more than 2,000 facilities, and Eastern Province schools plus administrative buildings totaling another 2,000 facilities. Hill International’s project staff will mobilize to deliver each of the above projects to the highest international facilities management standards and practices. Though similar, each project presents unique challenges, from geographical dispersion to local service provider management. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 18% share price gain to US$2.25, the stock is trading at a trailing P/E ratio of 22.3x, up from the previous P/E ratio of 19x. This compares to an average P/E of 25x in the Professional Services industry in the US. Total return to shareholders over the past three years is a loss of 60%. Is New 90 Day High Low • Jan 07
New 90-day high: US$2.14 The company is up 44% from its price of US$1.49 on 08 October 2020. The American market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: US$1.95 The company is up 39% from its price of US$1.40 on 09 September 2020. The American market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 14% over the same period. Duyuru • Dec 04
Hill International to Manage the LinkUS and BNSF Projects for the Southern California Regional Rail Authority as Part of the $10 Billion SCORE Program Hill International announced it was awarded a contract to provide Project Management Support Services to the Southern California Regional Rail Authority (SCRRA) for the LinkUS and BNSF components of the Southern California Optimized Rail Expansion (SCORE) program. The $10 billion SCORE program will achieve SCRRA’s 2028 service vision, which coincides with the Los Angeles 2028 Olympic and Paralympic Games, and SCRRA’s 2015-2025 Strategic Plan. Hill is supporting SCORE as part of a $50 million on-call PM/CM contract with the SCRRA, awarded in March 2020. The LinkUS project will renovate and modernize a 1939 station to improve the ridership experience for SCRRA, Amtrak, and the California High Speed Rail Authority (CHSRA) by delivering a new and modern concourse, and enable run-through services by constructing run-through tracks on a new viaduct over Highway 101. The BNSF component consists of a series of projects along the BNSF San Bernardino Subdivision (SBS) to enhance safety, reliability, and capacity of freight and passenger train operations. Hill’s professionals will monitor the program and verify costs, schedule, and final outcomes of the projects meet the objectives of the SCORE program. Valuation Update With 7 Day Price Move • Nov 26
Market bids up stock over the past week After last week's 19% share price gain to US$1.84, the stock is trading at a trailing P/E ratio of 18.3x, up from the previous P/E ratio of 15.3x. This compares to an average P/E of 23x in the Professional Services industry in the US. Total return to shareholders over the past three years is a loss of 67%. Duyuru • Nov 20
Hill International to Provide Construction Support Services for LA Metro’s I-5 Improvement Project in Northern Los Angeles County Hill International announced that it has been selected by the Board of Directors of the Los Angeles County Metropolitan Transportation Authority (Metro) and awarded a contract to provide construction support services for a significant improvement project on U.S. Interstate 5 (I-5). In cooperation with Caltrans District 7, Metro is undertaking a project to improve road conditions of the I-5 as it passes through northern Los Angeles County in the area of Santa Clarita—an approximately 40-minute drive from downtown Los Angeles. The work will extend from the I-5/SR 14 interchange to Parker Road in Santa Clarita and Los Angeles County. This nearly 14-mile stretch covers other major interchanges including State Route 126 and Magic Mountain Parkway. Improvements include the addition of high-occupancy vehicle lanes along the median of I-5, the creation of and maintenance of existing truck lanes, and the construction of auxiliary lanes between on-ramps and subsequent off-ramps. The project will also involve intelligent transportation system improvements, including traffic count stations, closed-circuit television cameras, and ramp metering. These improvements will enable the road to handle more traffic at peak hours and provide a safer and faster commute for the residents of northern Los Angeles County. As the construction support services consultant, Hill will assist Metro staff in providing construction management oversight for the project. Hill’s support services will begin in the contract procurement phase, continue through pre-construction activities and construction, and culminate in the construction contract closeout. Valuation Update With 7 Day Price Move • Nov 16
Market bids up stock over the past week After last week's 16% share price gain to US$1.70, the stock is trading at a trailing P/E ratio of 16.9x, up from the previous P/E ratio of 14.5x. This compares to an average P/E of 23x in the Professional Services industry in the US. Total return to shareholders over the past three years is a loss of 68%. Is New 90 Day High Low • Nov 13
New 90-day high: US$1.64 The company is up 10.0% from its price of US$1.49 on 14 August 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 6.0% over the same period. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS US$0.037 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: US$88.7m (up 17% from 3Q 2019). Net income: US$2.11m (down 15% from 3Q 2019). Profit margin: 2.4% (down from 3.3% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Duyuru • Oct 30
Hill International, Inc. to Report Q3, 2020 Results on Nov 09, 2020 Hill International, Inc. announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Nov 09, 2020 Duyuru • Oct 07
Hill International to Manage the EGP 5 Billion Renovation of the Kasr Al-Ainy Hospitals for Cairo University Hill International announced it was awarded a contract to provide project management services for the Kasr Al-Ainy Hospitals Development project for Cairo University. Hill International will provide project management services during the design, procurement, and execution stages of the project which involves the renovation of all existing Kasr Al-Ainy hospital buildings and facilities and construct any additional facility buildings if required. Located in downtown Cairo on the University’s Faculty of Medicine campus, the hospital currently holds 3,200 beds and, according to University officials, receives approximately 7.3 million patients annually, performing around 2.2 million X-rays, 80,000 CT scans, and 45,000 ultrasounds each year. The ultimate goal of the EGP 5 billion project is to transform the hospital into a facility organized by specialist departments, rather than general care, and to increase hospital capacity by some 300%. This will allow Kasr Al-Ainy to serve more patients at a lower cost, while also improving educational and training capabilities for students and staff. Duyuru • Sep 30
European Investment Bank Selects Hill International to Support Transportation Infrastructure Projects Across Multiple Sectors as Part of the European Investment Bank's Project Advisory Support Team Hill International announced it was selected by the European Investment Bank (EIB) to support the EIB's Project Advisory Support (PAS) Team in the implementation of transportation-related infrastructure projects in Romania, Bulgaria, Poland, and Croatia. Under a framework agreement, Hill's subject matter experts will provide expertise to EIB-supported projects to accelerate project planning and execution, as well as European Union (EU) structural and investment funds absorption. Supported projects may involve roads, rail, light rail and bus lines, aviation, waterborne transit, logistics platforms, and/or intermodal platforms. Duyuru • Sep 24
Hill International Wins Contract to Provide Project Management, Design Review and Implementation Supervision Services for the New Administrative Capital City Hill International announced that it was awarded a contract to provide project management, design review, and implementation supervision services for the New Administrative Capital City and 6th of October City Monorail project in Egypt. Once complete, the two lines will transport approximately 45,000 passengers per hour at peak capacity, greatly improving mobility for Egyptian citizens in a safe and sustainable manner. Built by Egypt’s National Authority for Tunnels, the estimated $4 billion project represents the first monorail project in North Africa and, once complete, will be the longest monorail system in the world at a combined 98.5 km. The project’s first line will extend 56.5 km from East Cairo to the New Administrative Capital. The second line will be 42 km long to connect 6th of October City to Giza. These are the first mass transit links to connect Greater Cairo with New Capital City and 6th of October City. With operating speeds up to 80 km/h, the journey time for the new Capital City will be around 60 minutes (for 56.5 km line) and around 42 minutes for 6th of October City (42 km line). The project will use the design-build-operate-and-maintain (DBOM) delivery method, and includes 34 stations, including both elevated and at-grade locations, and associated works including maintenance facilities, depots, and an Operations Control Centre. The monorail will also intersect with the Cairo Metro’s Line 3 as well as Cairo’s High Speed Rail network, further connecting the dynamic Cairo region. Is New 90 Day High Low • Sep 19
New 90-day low: US$1.37 The company is down 14% from its price of US$1.60 on 19 June 2020. The American market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 9.0% over the same period. Duyuru • Jul 04
Hill International, Inc.(NYSE:HIL) dropped from Russell Microcap Growth Index Hill International, Inc.(NYSE:HIL) dropped from Russell Microcap Growth Index