AECOM announces completion of approximately $155 million stock repurchase program and initiation of additional up to $300 million repurchase program
AECOM (NYSE:ACM) announced the completion of a $155 million share repurchase program initiated in September and plans to repurchase up to $300 million in stock during the first quarter of fiscal 2021. Following this buyback, approximately $605 million remains under the company's repurchase authorization. CEO Troy Rudd emphasized a commitment to capital returns to stockholders, aiming to leverage available cash for shareholder value creation.
- Completion of $155 million share repurchase boosts shareholder value.
- New plan to repurchase up to $300 million reflects confidence in financial strategy.
- Approximately $605 million remains available for future repurchases.
- None.
LOS ANGELES--(BUSINESS WIRE)--AECOM (NYSE:ACM), the world’s premier infrastructure consulting firm, announced it expects to complete today an approximately
“We are successfully executing on our financial and strategic priorities, which gives us great confidence as we accelerate our capital returns to stockholders,” said Troy Rudd, AECOM’s chief executive officer. “With the momentum in the business continuing, we are committed to executing on our capital allocation policy, including repurchasing shares with substantially all available cash and free cash flow, in order to fully deliver on the substantial shareholder value creation opportunity in front of us.”
About AECOM
AECOM (NYSE:ACM) is the world’s premier infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. We partner with our clients in the public and private sectors to solve their most complex challenges and build legacies for generations to come. On projects spanning transportation, buildings, water, governments, energy and the environment, our teams are driven by a common purpose to deliver a better world. AECOM is a Fortune 500 firm and its Professional Services business had revenue of approximately
Forward-Looking Statements
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