DALLAS - AECOM (NYSE: ACM), a global infrastructure consulting firm, has been awarded a five-year contract by NASA to carry out environmental restoration and compliance services at various agency facilities throughout the United States.
This announcement came today as the company prepares to support NASA's environmental initiatives, including the management and remediation of per- and polyfluoroalkyl substances (PFAS).
Under the NASA Environmental Restoration and Compliance Contract (NERCC), AECOM will engage in environmental sampling, contaminant investigations, risk assessments, and remediation activities. The contract also designates AECOM as the main contractor for NASA's PFAS-related investigation and remediation efforts. AECOM brings over 20 years of experience handling PFAS at more than 500 sites globally.
Frank Sweet, CEO of AECOM's global Environment business, expressed pride in continuing the firm's 60-year legacy with NASA by utilizing their expertise in environmental restoration and compliance. He emphasized the importance of addressing hazardous materials like PFAS, aligning with NASA's commitment to stewardship of Earth.
Karl Jensen, executive vice president of AECOM's National Governments business, highlighted the company's specialized experience and comprehensive services that will facilitate a swift and effective response at each NASA Center and facility, contributing to the agency's broader mission.
AECOM's team of 9,000 environmental professionals, part of an extensive Technical Practice Network, will collaborate to apply innovative solutions and advanced technologies to address challenging remediation projects for NASA.
The company, recognized as a trusted partner for federal clients, operates across various sectors, offering advisory, planning, design, engineering, program, and construction management services. In fiscal year 2023, AECOM's Professional Services business reported revenues of $14.4 billion.
This article is based on a press release statement.
InvestingPro Insights
AECOM (NYSE: ACM), the infrastructure consulting giant, has recently secured a significant contract with NASA, bolstering its environmental service offerings. As investors consider the implications of this development, it's essential to look at AECOM's financial health and market performance through the lens of InvestingPro metrics and insights.
With a robust market capitalization of $13.34 billion, AECOM stands as a formidable entity in the Construction & Engineering industry. The company's revenue growth is notable, with a 12.31% increase over the last twelve months as of Q1 2024, reflecting its capacity to expand operations and secure lucrative contracts such as the one with NASA.
Despite a high Price/Earnings (P/E) ratio of 219.37, AECOM's adjusted P/E ratio for the last twelve months as of Q1 2024 is more moderate at 48.47. This suggests that while the stock may be trading at a premium based on earnings, the company's growth prospects could justify the valuation to some investors. Additionally, AECOM's Price/Book ratio of 5.94 indicates that the market recognizes the value of its assets and future earning potential.
InvestingPro Tips highlight AECOM as a prominent player in its industry, with an expectation of net income growth this year. Moreover, the stock is known for low price volatility, which might appeal to investors seeking stability. For those interested in further analysis, there are 11 more InvestingPro Tips available, which can provide deeper insights into AECOM's financial and market performance. To access these valuable tips, investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/ACM.
These financial metrics and InvestingPro Tips can help investors understand AECOM's current market position and assess the potential impact of the NASA contract on the company's future performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.