Contracts roundup: AECOM wins Silicon Valley drinking water reuse design; Onterris lands Canadian gas pipeline role

AECOM (ACM) and Jacobs (J) won a major contract for Ireland's MetroLink project, boosting AECOM's backlog to $27.8B. However, a $337M charge from a troubled project erased Q3 profit, pushing operating income to a loss. AECOM's international revenue grew 6%, but it cut full-year revenue growth outlook. Hedge fund ownership increased, and the stock trades at a forward P/E of 9.97.

AECOM announced that David Gan, its Chief Legal Officer, will retire on October 2, 2026, and serve as a Senior Advisor until mid-2027. Manav Kumar, General Counsel, will replace Gan, ensuring continuity in legal and public affairs leadership.

Transport Infrastructure Ireland (TII) selected the Jacobs AECOM consortium as the Programme Delivery Partner for the Dublin MetroLink project. The 19 km metro line will have 16 stations and connect Sinners, Dublin Airport, and the city center. The project aims to reduce congestion, support economic growth, and decarbonize transport. A EUR 7.3 billion tender was launched for infrastructure and services.

Onterris Inc. (NYSE:ONT) reported Q2 revenue of $186.7M, down from $234.5M YoY, and cut 2026 guidance. EBITDA margin improved to 17.1%. The company initiated a strategic review and adopted a poison pill. Net income fell to $1.4M, and operating cash flow turned negative. Hedge fund ownership declined, while short interest rose to 10.22%.

AECOM will design a $100M direct potable reuse (DPR) pilot facility and learning center in Silicon Valley, treating up to 200 gallons per minute. The project, part of the Pure Water Silicon Valley program, will test advanced water treatment technologies and support public education. AECOM will also provide regulatory, outreach, and quality assurance services.

Worley appointed AECOM to support the Ontario Pumped Storage Project (OPSP), a 1,000 MW energy storage project in Meaford, Ontario. AECOM will assist with engineering, planning, and risk assessment. The project, led by TC Energy, aims to enhance Ontario's electricity system flexibility. Key partners include EllisDon and Saugeen Ojibway Nation.