AECOM (NYSE: ACM) shares reached a new 52-week low following its fiscal third-quarter results in August. The company reported an adjusted loss of $0.50 per share. This result missed the analyst consensus estimate of a $1.46 profit. Quarterly revenue fell 14.2% year-over-year to $3.59 billion.
A $337 million pre-tax charge on a Construction Management project drove the unexpected loss. Subcontractor productivity issues caused project delays and increased costs.
The company's project backlog grew 13% to reach a new record. AECOM stock has declined approximately 30% over the last six months.