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Released February 06, 2019 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Engineering, procurement and construction firm AECOM (NYSE:ACM) (Los Angeles, California) grew its project backlog by 22% in the quarter ending December 31 (the company's first fiscal quarter of 2019) to $59.5 billion, an all-time record high for the company. The company won a record $11 billion in business during the quarter. The company's quarterly revenue rose modestly at 2.6%, from $4.91 billion in 2017 to $5.03 billion in 2018. AECOM's qu8arterly net income fell from $111.3 million in 2017 to $51.5 million.
Among the largest projects in the company's backlog is a terminal expansion project at the Chicago O'Hare International Airport in Illinois, for which AECOM is providing architectural and engineering services. The project involves renovating three terminals, constructing 35 new gates and replacing 40 existing gates. In addition, AECOM will construct the new O'Hare Global Terminal, which will replace a 55-year-old terminal in order to make way for larger international aircraft. The project is expected to kick off in the fourth quarter of this year and be completed in 2026. The project has a total investment value (TIV) of $8.54 billion. For more information, see Industrial Info's project report.
Light rail projects also are a key component in the company's backlog. Among the projects set to kick off in the next few months is the expansion of the Green Line in Minnesota, which connects the central business districts of Saint Paul and Minneapolis. The project entails constructing 14.5 miles of double-track light rail line with 15 stations from downtown Minneapolis through several communities on the outskirts of the city. C.S. McCrossan Incorporated (Maple Grove, Minnesota) is the general contractor on the project, which has a TIV of $2 billion and is expected to be completed in early 2023. For more information, see Industrial Info's project report.
Among the strategic decisions AECOM has made in the past year is that of exiting the fixed-price combined cycle power plant construction market. Among the company's combined cycle projects is the construction of Alliant Energy Corporation's (NYSE:LNT) (Madison, Wisconsin) 700-megawatt (MW) expansion of the Riverside Energy Center in Beloit, Wisconsin. In AECOM's earnings conference call, Chief Executive Officer Michael Burke gave an update on the project, which kicked off in 2017. Burke said, "The Alliant Riverside gas power plant is approximately 85% complete and remains on schedule and on budget. We reached another major milestone in December, with all buildings now substantially enclosed, and we expect to complete this project later this year." The project has an estimated TIV of $700 million. For more information, see Industrial Info's project report.
One of AECOM's biggest combined cycle projects, for which it is providing engineering services, is set to kick off next quarter in Charles City County, Virginia. Balico LLC's (Herndon, Virginia) Chickahominy Power Station will have a total generating capacity of 1,600 MW when complete. Construction is expected to wrap up in mid-2022. For more information, see Industrial Info's project report.
Louisiana is the site of some large AECOM projects. The company is dipping into the lucrative liquefied natural gas (LNG) market by acting as a consultant on Monkey Island LNG LLC's (Houston, Texas) planned LNG production and export facility in Cameron Parish, Louisiana. The project will include three trains, each capable of producing 5.25 million metric tons of LNG per year. Construction on the first train could begin in 2020 for completion in 2024. Offtake agreements have been signed with four companies for a total of 4.7 million metric tons per year. For more information, see Industrial Info's project reports on Train 1, Train 2 and Train 3.
At the Port of New Orleans AECOM is providing consulting for the expansion of a deepwater port container terminal and distribution center. The project will help the port accommodate its 4.5% annual growth for larger ships. Construction could begin this year, for completion by the end of 2021. The project has an estimated TIV of $1 billion. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Among the largest projects in the company's backlog is a terminal expansion project at the Chicago O'Hare International Airport in Illinois, for which AECOM is providing architectural and engineering services. The project involves renovating three terminals, constructing 35 new gates and replacing 40 existing gates. In addition, AECOM will construct the new O'Hare Global Terminal, which will replace a 55-year-old terminal in order to make way for larger international aircraft. The project is expected to kick off in the fourth quarter of this year and be completed in 2026. The project has a total investment value (TIV) of $8.54 billion. For more information, see Industrial Info's project report.
Light rail projects also are a key component in the company's backlog. Among the projects set to kick off in the next few months is the expansion of the Green Line in Minnesota, which connects the central business districts of Saint Paul and Minneapolis. The project entails constructing 14.5 miles of double-track light rail line with 15 stations from downtown Minneapolis through several communities on the outskirts of the city. C.S. McCrossan Incorporated (Maple Grove, Minnesota) is the general contractor on the project, which has a TIV of $2 billion and is expected to be completed in early 2023. For more information, see Industrial Info's project report.
Among the strategic decisions AECOM has made in the past year is that of exiting the fixed-price combined cycle power plant construction market. Among the company's combined cycle projects is the construction of Alliant Energy Corporation's (NYSE:LNT) (Madison, Wisconsin) 700-megawatt (MW) expansion of the Riverside Energy Center in Beloit, Wisconsin. In AECOM's earnings conference call, Chief Executive Officer Michael Burke gave an update on the project, which kicked off in 2017. Burke said, "The Alliant Riverside gas power plant is approximately 85% complete and remains on schedule and on budget. We reached another major milestone in December, with all buildings now substantially enclosed, and we expect to complete this project later this year." The project has an estimated TIV of $700 million. For more information, see Industrial Info's project report.
One of AECOM's biggest combined cycle projects, for which it is providing engineering services, is set to kick off next quarter in Charles City County, Virginia. Balico LLC's (Herndon, Virginia) Chickahominy Power Station will have a total generating capacity of 1,600 MW when complete. Construction is expected to wrap up in mid-2022. For more information, see Industrial Info's project report.
Louisiana is the site of some large AECOM projects. The company is dipping into the lucrative liquefied natural gas (LNG) market by acting as a consultant on Monkey Island LNG LLC's (Houston, Texas) planned LNG production and export facility in Cameron Parish, Louisiana. The project will include three trains, each capable of producing 5.25 million metric tons of LNG per year. Construction on the first train could begin in 2020 for completion in 2024. Offtake agreements have been signed with four companies for a total of 4.7 million metric tons per year. For more information, see Industrial Info's project reports on Train 1, Train 2 and Train 3.
At the Port of New Orleans AECOM is providing consulting for the expansion of a deepwater port container terminal and distribution center. The project will help the port accommodate its 4.5% annual growth for larger ships. Construction could begin this year, for completion by the end of 2021. The project has an estimated TIV of $1 billion. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
