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MarketScreener Homepage  >  Equities  >  Nyse  >  AECOM    ACM

AECOM

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AECOM : SoFi Stadium recently kicked off its first regular season NFL football game

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09/18/2020 | 10:47am EDT

Turner-AECOM Hunt, the joint venture of Turner Construction Company and AECOM Hunt, part of AECOM (NYSE:ACM), celebrate the opening of SoFi Stadium, the new home of the Los Angeles Rams and Los Angeles Chargers, in Inglewood, California.

The 3.1 million-square-foot facility, which is the first football stadium erected in Los Angeles in nearly a century, can host approximately 70,000 fans and is expandable to accommodate up to 100,000 people for special events.

After breaking ground on the state-of-the-art stadium in November 2016, the joint venture has overseen a team that encompassed approximately 3,000 workers daily at peak, with more than 17,000 people in total contributing to make the NFL's largest stadium a reality. This included excavating more than seven million cubic yards of dirt to build the field level 100 feet below grade.

'It has been a pleasure to partner with all of the contractors on this landmark project,' said Richard Bach, Turner Senior Vice President. 'I am incredibly proud and sincerely thank all of the workers and everyone who played a part in the stadium's development. Their hard work has paid off.'

Bach continued, 'The success of this project is due to the visionary leadership of Stan Kroenke. His passion for design, experience in construction and his praise and support for our workforce is what got us here. I appreciate the trust placed in us as we collaborated to realize his incredible vision. It was great to see the Los Angeles Rams win their home opener after all of the planning and work to make this stadium a reality.'

'We are thrilled that the world will be finally able to experience this state-of-the-art stadium,' said Jay Badame, president of AECOM's Construction Management business. 'We're proud to have been part of bringing SoFi Stadium to life and to setting the new standard in stadium construction with our partners at Turner, and the thousands of passionate, hardworking, and skilled workers who built this newest icon for Los Angeles.'

A key element of SoFi Stadium is its integration of the latest technology, ensuring a truly unique fan experience. The centerpiece of the facility is a double-sided video board that sits 120 feet above the field and contains panels as tall as forty feet. The video board is the largest in the league, longer than the playing field, and weighs approximately 2.2 million pounds.

A signature feature of the stadium is the opened-ended, semi-translucent, one million-square-foot roof, which helps define the facility as the only open-air, indoor-outdoor facility in the NFL. The design of the roof enables the sun to shine inside the stadium and breezes to be felt from the ocean five miles away. The roof structure is the biggest of its kind and is comprised of 35,000 unique panels, contains 17 miles of cable, and weighs 500 million pounds.

The stadium is slated to host a variety of events including Super Bowl LVI in 2022, the College Football Championship Game in 2023, and the Opening and Closing Ceremonies of the Olympic Games in 2028.

About Tuner Construction

Turner is an international construction services company. Founded in 1902, Turner first made its mark on the industry pioneering the use of steel-reinforced concrete for general building, which enabled the company to deliver safer, stronger, and more efficient buildings to clients. The company continues to embrace emerging technologies and offers an increasingly diverse set of services. With an annual construction volume of US$12 billion, Turner is the largest builder in the United States, ranking first in the major market segments of the building construction field, including healthcare, education, sports, commercial, and green building. The firm is a subsidiary of HOCHTIEF, one of the world's leading international construction service providers.

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 $13.6 billion in fiscal year 2019.

Forward-Looking Statements

All statements in this communication other than statements of historical fact are 'forward-looking statements' for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; high leverage and potential inability to service our debt and guarantees; exposure to Brexit; exposure to political and economic risks in different countries; currency exchange rate fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the Management Services transaction, including the risk that the expected benefits of the Management Services transaction or any contingent purchase price will not be realized within the expected time frame, in full or at all; the risk that costs of restructuring transactions and other costs incurred in connection with the Management Services transaction will exceed our estimates or otherwise adversely affect our business or operations; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.

Contact:

Chris McFadden

Tel: 212.229.6145

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials (USD)
Sales 2020 13 103 M - -
Net income 2020 53,4 M - -
Net Debt 2020 - - -
P/E ratio 2020 131x
Yield 2020 -
Capitalization 7 031 M 7 031 M -
Capi. / Sales 2020 0,54x
Capi. / Sales 2021 0,54x
Nbr of Employees 86 000
Free-Float 95,2%
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Mean consensus BUY
Number of Analysts 9
Average target price 48,33 $
Last Close Price 43,84 $
Spread / Highest target 27,7%
Spread / Average Target 10,2%
Spread / Lowest Target 0,36%
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W. Troy Rudd Chief Executive Officer & Director
Lara Poloni President
Douglas W. Stotlar Chairman
Gaurav Kapoor Chief Financial Officer
Daniel R. Tishman Vice Chairman
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