AECOM (NYSE:ACM) Files An 8-K Regulation FD Disclosure

ME Staff 8-k
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AECOM (NYSE:ACM) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.

On November 23, 2016, a qui tam civil lawsuit filed to the federal False Claims Act was unsealed against URS Energy & Construction, Inc. (now known as AECOM Energy & Construction) and the successor to the former parent corporation of URS Corporation in the U.S. District Court for the Eastern District of Washington. The qui tam provisions of the federal False Claims Act, allow private individuals and former employees to bring lawsuits against government contractors on behalf of the federal government, in which the federal government may decide to intervene. As previously disclosed in AECOM’s periodic reports, the federal government was investigating contractual compliance and technical issues in the design, development and construction of the Waste Treatment Plant at the Department of Energy’s Hanford Nuclear Reservation. As a result of these investigations, in November 2016, the Department of Justice partially intervened in the qui tam lawsuit and contended that URS Energy & Construction and the former URS parent corporation made false claims pertaining to the Waste Treatment Plant contract from February 2007 until June 2013, a period which occurred before AECOM’s acquisition of URS Corporation and its affiliates in October 17, 2014. On November 22, 2016, URS Energy & Construction and the former URS parent corporation settled with the Department of Justice to resolve the dispute without admitting liability and agreed to pay $57,500,000 (plus accrued interest and the relators attorneys’ fees). The settlement was favorable to AECOM’s reserve for this matter. As a result, AECOM is increasing its fiscal year 2017 U.S. GAAP earnings per share guidance to $2.16 to $2.56 and its adjusted earnings per share guidance to $2.80 to $3.20.  A reconciliation of AECOM’s fiscal year 2017 adjusted earnings guidance to its GAAP earnings guidance is attached as Exhibit 99.1.

The information contained in this Current Report Form 8-K that is furnished under this Item 7.01 is being furnished to Item 7.01 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits

#99.1 – FY17 GAAP EPS Guidance based on Adjusted EPS Guidance — Regulation G Reconciliation Table


About AECOM (NYSE:ACM)

AECOM, formerly AECOM Technology Corporation, designs, builds, finances and operates infrastructure assets for governments, businesses and organizations around the world. The Company provides program and facilities management and maintenance, training, logistics, consulting, technical assistance, and systems integration and information technology (IT) services. The Company operates through three segments: Design and Consulting Services (DCS), Construction Services (CS) and Management Services (MS). The DCS segment provides planning, consulting, architectural and engineering design, and program and construction management services to commercial and government clients across the world. Its CS segment provides construction, program and construction management services, including building construction and energy, infrastructure and industrial construction, primarily in the Americas. The Company, through its MS segment, is a contractor to the United States Federal Government.

AECOM (NYSE:ACM) Recent Trading Information

AECOM (NYSE:ACM) closed its last trading session up +0.47 at 37.60 with 2,767,399 shares trading hands.