Engineering Company AECOM Secures Vital Role In Eglinton Crosstown West Extension Project

AECOM ACM disclosed being selected by Metrolinx as its delivery partner for the Eglinton Crosstown West Extension project.

The project is a 9.2-kilometer extension of the upcoming Eglinton Crosstown Light Rail Transit (LRT) to Renforth Drive from the future Mount Dennis Station. 

The project will connect with other local and regional transit, including UP Express and GO Transit rail services, TTC and GO Transit bus services. 

As per the term, AECOM will be an integral part of the Metrolinx delivery team throughout the project, including offering a global and multi-disciplinary service, integrating program management, advisory, and commercial management, among others.

"We are excited to bring the full strength of our firm to this project, which will not only improve the quality of life for residents and commuters but also the environmental outcomes for communities. This is a great example of AECOM's ongoing commitment to leaving a positive, lasting impact on people and our planet through our Sustainable Legacies strategy," said Drew Jeter, AECOM's Program Management global business line CEO.

Last month, ACM reported Q4 FY23 revenue growth of 12% Y/Y to $3.84 billion, beating the consensus of $3.69 billion, and adjusted EPS of $1.01, beating the consensus of $0.97.

As of September 30, 2023, AECOM had $1.3 billion of cash and cash equivalents and $2.2 billion of total debt.

Price Action: ACM shares closed higher by 1.43% at $92.65 on Thursday.