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AECOM posted a record backlog in the second quarter of 2026, but a surprise tax loss has led to significant earnings cuts. The infrastructure professional services firm reported fiscal third quarter 2026 results on 10 August 2026, missing the Zacks Consensus Estimate by $1.99 with a loss of $0.50 per share. The company took a $337 million pre-tax charge due to higher projected costs on a Construction Management project awarded in 2019. This prompted analysts to cut fiscal 2026 earnings estimates to $4.48 from $5.97, representing a 14.8% decline. AECOM shares have fallen 46.7% over the past year, trading near five-year lows. The stock currently trades with a forward P/E ratio of 14.5 and a price-to-sales ratio of 0.5.

AECOM and bd infrastructure appointed environmental advisors for Australia's High Speed Rail. SYDNEY (August 25 2026) - AECOM, the trusted global infrastructure leader, in partnership with lead partner bd infrastructure and specialist consultants Biosis, Artefact Heritage, and IRIS Visual Planning + Design, has been appointed the Environmental Planning and Assessment Advisor role for the Development Phase of the Australian Government's Newcastle to Sydney High Speed Rail project. The partners are experienced in navigating complex environmental and planning interfaces on transformational projects and will serve as client-side advisors throughout the two-year Development Phase. The team will prepare environmental impact assessments, manage biodiversity and heritage approvals pathways, and develop the environmental strategy to help ensure the project is ready for construction and an investment decision by the Australian Government. "We are proud to have been selected for a project of this significance," said Mark McManamny, chief executive of AECOM's Australia and New Zealand region. "High-speed rail has the potential to reshape how people connect, live and work along Australia's east coast. Together with bd infrastructure and our specialist partners, we've assembled a team with the experience needed to help navigate the environmental and planning challenges that come with a project of this scale. We're looking forward to working with the High Speed Rail Authority to help lay the foundations for this nationally significant infrastructure project." The Australian Government is planning a future High Speed Rail network to connect Brisbane, Sydney, Canberra, Melbourne and regional communities across the east coast of Australia. Newcastle will be connected to Sydney on a dedicated new railway line with new world-class trains capable of travelling up to 320 kilometres per hour. "High-speed rail would reshape how Australians live and move along the east coast," said Ashley Lang, managing director of AECOM's environment team in Australia and New Zealand. "Our role is to ensure the environmental foundations are right so this infrastructure can deliver regional connectivity, housing opportunity and economic growth for generations." "We are incredibly excited to partner with AECOM to help deliver the required planning approvals for High Speed Rail", said Jesse Death, managing director of bd infrastructure. "It is a unique opportunity to help shape nationally significant infrastructure that will create generations of opportunities for Australian cities, regions and communities." AECOM is a proud partner of numerous federal, state and local government projects, as Australia continues to prioritise transportation modernisation and capacity upgrades, particularly ahead of the Brisbane 2032 Olympic and Paralympic Games. This includes its recent appointment as Independent Certifier of The Wave - Stage 1, a key component of the Queensland Government's 2032 Delivery Plan, and Lead Design Consultant for Stage 2 of the New Richmond Bridge, supporting future population growth and flood resilience in New South Wales. About AECOM AECOM is the global infrastructure leader, committed to delivering a better world. As a trusted professional services firm powered by deep technical abilities, we solve our clients' complex challenges in water, environment, energy, transportation and buildings. Our teams partner with public- and private-sector clients to create innovative, sustainable and resilient solutions throughout the project lifecycle - from advisory, planning, design and engineering to program and construction management. AECOM is a Fortune 500 firm that had revenue of $16.1 billion in fiscal year 2025. Learn more at aecom.com. About bd infrastructure bd infrastructure is a purpose-driven infrastructure consultancy specialising in environmental planning and approvals, stakeholder engagement, and social impact. The company partners with government and private sector clients across transport, energy and social infrastructure projects, providing strategic advice and delivery support from project inception through to construction. Recognised for its ability to navigate complex approval pathways and stakeholder environments, bd infrastructure helps unlock project outcomes that are both commercially successful and socially meaningful. Its work is guided by a commitment to delivering sustainable infrastructure that strengthens communities and leaves a positive legacy. About Biosis Biosis brings proven ecological technical excellence to major infrastructure projects, and HSR specifically, supporting complex approvals with robust field survey, impact assessment and specialist ecology and biodiversity expertise. With more than 20,000 projects delivered since 1983, Biosis offers the scale, local knowledge and specialist capability needed to manage this complex project. Our experienced ecology team, including botanists, zoologists and aquatic ecologists across NSW and Victoria, will deliver robust biodiversity assessments, targeted threatened species surveys, habitat assessments, monitoring programs, impact mitigation advice and required approval documentation, identifying ecological risks early and developing practical, adaptable solutions that support confident project delivery and regulatory compliance www.biosis.com.au. About Artefact Heritage Artefact is a leading heritage consultancy that provides multi-disciplinary services across NSW/ACT. Their collective of heritage experts works collaboratively to shape forward-thinking heritage solutions grounded in respect for Country and culture. Home to the largest heritage team in NSW, Artefact provides expert archaeological and heritage services for major infrastructure, transport, energy, urban renewal and development projects across the state. Artefact's unique Empowered Business Model enables their team to also further social and environmental justice initiatives within their working week www.artefact.net.au. About IRIS Visual Planning & Design The IRIS Visual Planning & Design team are leading industry experts in Landscape and Visual Impact Assessment. Our team have undertaken assessments for some of the largest and most complex transport infrastructure projects across the state and are continuously developing innovative GIS analysis and visualisation tools to support the assessment process and communicate impacts. The IRIS team have experience working in highly urban through to rural landscapes, and in locations of sensitive landscape, environmental and cultural value. Our team strive continuously for improved landscape and visual outcomes for the community www.irisvisual.com.au. Media contacts * jason marshall, global * quincy zhai, americas * rebecca adam, Australia & New Zealand * rebecca lam, asia pacific * rachel brierley, europe & india * bahaa hage, middle east & africa.