AECOM shares fall as ACM revenue misses estimates despite higher profit guidance

AECOM (NYSE: ACM) fell after reporting flat year-over-year revenue of $3.80 billion for the first quarter of calendar 2026, missing Wall Street expectations, even as adjusted earnings of $1.59 a share topped consensus by 3.5%. Management cited slower project ramp-ups in the Middle East and delayed customer activity in some international markets. Chief Financial and Operations Officer Gaurav Kapoor said the Middle East created a 100-basis-point revenue headwind, though profit impact was limited by local joint venture structures. AECOM raised its full-year profit outlook, pointing to a record backlog, growth in the Americas and expected recovery in the Middle East. The company also said proprietary artificial intelligence tools are supporting project delivery, proposals and recent energy-sector contract wins. Shares traded at $70.23 after the results, down from $79.50 before the report.