April 2019

AEC Quarterly Earnings Call Synopsis – Q4 2018

We are pleased to present our review and synopsis of results and earnings call commentary for Q4 2018. This summary includes the most recent financial results for key publicly traded companies in the Architecture, Engineering & Environmental Services sector for the period October – December 2018.

M&A Indicators:

• Valuation multiples rebounded significantly in Q1 of 2019, with publicly traded AEC companies averaging 13.3x EBITDA, compared to the long-term average since 2014 of 11.5x.
• Overall transaction volume remains steady with more than 50 industry deals announced in Q1 2019.
• Private equity remains keen on the sector with multiple new platform investments and add-on acquisitions announced recently.