Los Angeles Business Journal

Aecom Reaffirms Guidance

By Deborah Crowe Tuesday, August 7, 2012

Shares of Aecom Technology Corp. jumped 18 percent to $18.82 on Tuesday even though the Los Angeles professional and technical services provider reported 6 percent lower third-quarter net income of $69.4 million (63 cents a share).

Revenue rose more than 2 percent to $2.1 billion. The Wall Street consensus was for earnings of 64 cents a share on revenue of less than $2.1 billion.

Analysts speculated that investors were impressed that company reported a significant increase in free cash flow and also reaffirmed its guidance for the full year.