AECOM (ACM) released its second quarter results on Tuesday, May 11, 2021. The company reported net earnings of $0.26 per share for the second quarter ending March 31, 2021. Earnings for this past quarter were up 148 percent compared to the same period a year ago.
AECOM was founded in 1980 and is headquartered in Los Angeles, California. AECOM, together with its subsidiaries, delivers professional services to program and construction management in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through three segments: Americas, International, and AECOM Capital.
AECOM's revenue decreased 20 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 7.24% for the second quarter compared to the same period in the previous year, and operating margins increased to 4.88% over the same period. Net earnings for past trailing twelve months were $262.75 million, up 184% from the prior year.
Moving on to the balance sheet, AECOM's cash levels dropped 18% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 0.5% this past year. The current ratio for AECOM now stands at 1.15. The company decreased shares outstanding by 6.08%.
Shares of ACM are currently trading around $68.60. In terms of valuation, the stock is trading at a price to book ratio of 3.63.