Aecom Technology said Wednesday in a press statement that it has completed the safe withdrawal of its expatriate employees and their families from Libya.
The professional technical and management support services provider has been the program manager for the Libya Housing and Infrastructure Boards program to modernize the country’s infrastructure since 2008. Aecom Technology (ACM) said it cannot determine whether the project will continue due to the uncertainty in Libya.
It will hurt the company’s earnings in the immediate future, the statement said. It expects the disruption to reduce earnings per share by 8 cents in the second quarter of 2011. However, full-year guidance for 2011 is unchanged at $2.25 to $2.35 per share.
Aecom shares are trading up over 0.4 percent on Wednesday.
Stocks are broadly being impacted by the unrest in Libya as oil continues to trade above $100 per barrel, putting a damper on the stock market.
By Jonathan Terry
