Investor Presentaiton
Regulation G Information
Reconciliation of Revenue to Net Service Revenue (NSR)
Three Months Ended
Six Months Ended
Mar 31,
2022
Three Months Ended
Dec 31,
2022
Six Months Ended
Mar 31,
2023
Mar 31,
2022
Mar 31,
2023
Mar 31,
2022
Dec 31,
2022
Mar 31,
2023
Mar 31,
2022
Mar 31,
2023
Reconciliation of Segment Income from Operations to Adjusted Income from Operations
Americas Segment:
Income from operations
Americas
Revenue
$ 2,399.9
Less: Pass-through revenue
1,450.4
$2,579.3
1,655.6
$ 2,630.2
1,654.5
$ 4,863.4
3,026.1
Net service revenue
$ 949.5
$ 923.7
$ 975.7
$ 1,837.3
$ 5,209.5
3,310.1
$1,899.4
Amortization of intangible assets
Adjusted income from operations
$
$
163.6 $ 163.8
4.4
168.0
$
4.4
168.2
$ 178.2
4.3
$ 316.8
8.7
$ 342.0
$ 182.5
$ 325.5
8.7
$ 350.7
International Segment:
International
Revenue
Income from operations
$ 54.8
$
$
Less: Pass-through revenue
Net service revenue
Segment Performance (excludes ACAP)
Revenue
Less: Pass-through revenue
Net service revenue
813.3
149.2
664.1
$ 802.8
133.9
$ 859.8
156.9
$ 1,615.7
297.3
$ 1,662.6
Amortization of intangible assets
0.4
290.8
Adjusted income from operations
$
55.2
$
55.1
0.3
55.4
$ 60.0
0.3
$ 107.8
0.8
$ 60.3
$ 108.6
$ 115.1
0.6
$ 115.7
$ 668.9
$ 702.9
$ 1,318.4
$ 1,371.8
Segment Performance (excludes ACAP & G&A):
Income from operations
$ 218.4
$
$ 3,213.2
$ 3,382.1
$ 3,490.0
1,599.6
1,789.5
1,811.4
$ 6,479.1
3,323.4
$ 6,872.1
Amortization of intangible assets
4.8
218.9
4.7
$ 238.2
4.6
$ 424.6
9.5
$ 457.1
9.3
3,600.9
Adjusted income from operations
$ 223.2
$
223.6
$ 242.8
$ 434.1
$ 466.4
$ 1.613.6
$ 1,592.6
$ 1,678.6
$ 3,155.7
$ 3,271.2
Consolidated
Revenue
Less: Pass-through revenue
Net service revenue
FY2023 GAAP Operating Cash Flow Guidance based on Free Cash Flow Guidance
$ 3,213.7
1,599.6
$3,382.4
1,789.5
$ 3,490.1
$ 6,480.4
$ 6,872.5
(in millions, all figures approximate)
1,811.4
3,323.4 3,600.9
Operating cash flow guidance
$ 1,614.1
$ 1,592.9
$ 1,678.7
$ 3,157.0
$ 3,271.6
Free cash flow guidance
Capital expenditures, net of proceeds from equipment disposals
Fiscal Year End 2023
$575 to $775
($100)
$475 to $675
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
Net cash (used in) provided by operating activities
Capital expenditures, net
Free cash flow
Page 20
Three Months Ended
Mar 31,
2022
Dec 31,
2022
Mar 31,
2023
Six Months Ended
Mar 31,
2022
Mar 31,
2023
FY2023 GAAP Income from Operations as a % of Revenue Guidance based on
Segment Adjusted Operating Income as a % of Net Service Revenue Guidance
(all figures approximate)
Fiscal Year End 2023
Income from operations as a % of revenue
5.4%
$ (1.7) $
(15.7)
120.0 $
(36.3)
11.5
(32.3)
$ 193.2 $
131.5
Pass-through revenues
7.8%
$ (17.4) $ 83.7
$ (20.8)
$
(47.9)
145.3 $
(68.6)
Amortization of intangible assets
0.1%
62.9
Corporate net expense
1.0%
Restructuring expenses
0.3%
Segment adjusted operating income as a % of net service revenue
14.6%
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