The scrutiny centers on statements made during the February 10, 2026, earnings call. CEO Troy Rudd previously touted an adjusted EPS of $1.29, claiming the figure exceeded internal expectations. However, the company later reported an adjusted loss of approximately $0.50 per share, falling well short of analyst consensus estimates of $1.46 to $1.51.

Discrepancies extended to the company’s forward-looking statements as well. CFO Gaurav Kapoor had initially guided investors toward an adjusted EPS midpoint of $5.95, a figure that was eventually slashed to roughly $4.05. These shifts, coupled with a 14.2% year-over-year decline in revenue to $3.59 billion, have prompted the inquiry into whether AECOM provided materially misleading information to shareholders regarding its financial health. Investors who sustained losses are currently being evaluated for potential recovery options on a contingency basis.