Welcome to our dedicated page for ABM Industries news (Ticker: ABM), a resource for investors and traders seeking the latest updates and insights on ABM Industries stock.
ABM Industries Inc. (NYSE: ABM) delivers essential facility solutions spanning janitorial services, infrastructure engineering, and cutting-edge eMobility technologies. This news hub provides investors and industry professionals with direct access to official corporate announcements and strategic developments.
Track ABM's latest financial results, partnership agreements, and service innovations through verified press releases. Our curated updates cover critical areas including aviation facility management advancements, semiconductor industry support programs, and sustainable infrastructure initiatives.
Key updates include earnings disclosures, leadership changes, contract awards, and technological implementations across ABM's core markets. Users gain insights into how the company maintains its position as a facility management leader while expanding into emerging sectors like EV infrastructure and smart building analytics.
Bookmark this page for streamlined access to ABM's evolving service portfolio and market strategies. Regular updates ensure you stay informed about operational milestones affecting commercial real estate, manufacturing, and technical solution sectors.
ABM (NYSE: ABM) has announced a distributorship agreement with Samsung C&T Charging Solutions, becoming an authorized distributor and servicer of EVSIS-branded DC Fast Chargers. This partnership expands ABM's charger portfolio and marks EVSIS's entry into the U.S. market. The EVSIS chargers feature advanced technology that integrates with ABM's EV OS platform, offering scalable expansion, intelligent monitoring, and remote management capabilities.
Mark Hawkinson, President of ABM's Technical Solutions segment, highlighted the partnership as reflecting ABM's growing relationship with Samsung across multiple segments. Jesse Kim, Director at Samsung C&T Charging Solutions, emphasized ABM's position as a leading EV infrastructure provider in the U.S., making them an ideal partner for introducing EVSIS's DC fast chargers to the American market.
ABM, a leading facility solutions provider, reported strong Q3 fiscal 2024 results and raised its full-year outlook. Revenue increased 3.3% to $2.1 billion, with organic growth of 2.8%. While net income and GAAP EPS both decreased 95% to $4.7 million and $0.07 respectively, largely due to a potential Ravenvolt acquisition earn-out payment, adjusted net income rose 13% to $59.5 million and adjusted EPS grew 19% to $0.94. Adjusted EBITDA increased 2% to $128.1 million.
ABM's CEO Scott Salmirs attributed the strong performance to strategic investments in energy resiliency markets, particularly microgrids, and technology improvements. The company's focus on market segmentation, especially in higher-performing Class A properties, contributed to solid performance in the Business & Industry segment despite a challenging commercial real estate environment. ABM raised its fiscal year 2024 adjusted EPS outlook to $3.48-$3.55, up from the previous $3.40-$3.50 range.
ABM (NYSE: ABM), a leading facility solutions provider, has announced the release of its fiscal third quarter 2024 financial results on September 6, 2024, before market open. The company will host a conference call at 8:30 AM (ET) on the same day to discuss the results. Interested parties can access the call via audio webcast on ABM's website or by dialing in. A supplemental presentation will accompany the webcast.
Key details:
- Financial results release: September 6, 2024, pre-market
- Conference call: September 6, 2024, at 8:30 AM (ET)
- Dial-in numbers: (877) 451-6152 (domestic) or (201) 389-0879 (international)
- Replay available until September 20, 2024
- Webcast replay archived on ABM website for 90 days
ABM (NYSE: ABM), a leading provider of integrated facility services, has been awarded a NASPO ValuePoint® contract for electric vehicle (EV) charging infrastructure. This contract allows ABM to offer its single-source EV charging infrastructure solutions to state and local government and educational entities nationwide more efficiently and cost-effectively.
Key points:
- ABM has installed over 30,000 EV ports nationwide
- The company offers end-to-end services including plan design, equipment installation, cloud-based network connectivity, monitoring, maintenance, upgrades, and power storage
- The NASPO ValuePoint cooperative purchasing program streamlines the procurement process for participating governmental agencies
- This contract is expected to help drive EV adoption rates while providing cost-effectiveness, sustainability, and reliability to governments and organizations
ABM (NYSE: ABM), a leading integrated facility services provider, has been named one of Selling Power Magazine's 60 Best Companies to Sell For in 2024 for the third consecutive year. This recognition highlights ABM's effective sales culture and alignment of people, processes, and technologies. Sean Mahoney, EVP of Sales and Marketing, emphasized the company's commitment to improving client and team member experiences as part of their ELEVATE strategy.
ABM reported record sales in the first half of fiscal 2024, attributing this success to their award-winning culture, innovative technologies, and support for sales teams. The company's growing portfolio of solutions across various industries has contributed to this momentum. Selling Power's research team evaluated companies based on comprehensive criteria, including compensation, benefits, sales training, and AI implementation.
ABM Industries has acquired Quality Uptime Services, a key player in the critical power services industry, for an all-cash price of $119 million. Quality Uptime, based in Bethel, CT, specializes in UPS maintenance and emergency services for data centers and other facilities. Its 130 employees will join ABM’s Mission Critical Solutions group within the Technical Solutions segment.
The acquisition aims to double ABM’s mission-critical revenue in the first year, driven by increased investments in AI and data center infrastructure. Quality Uptime will maintain its brand identity while leveraging ABM's resources in electrification and microgrids. The integration will enhance ABM’s service offerings, including electrical testing, UPS and battery maintenance, and critical cooling solutions.
ABM’s CEO Scott Salmirs highlighted the acquisition's alignment with the company's ELEVATE strategy, focusing on innovation and comprehensive solutions for the growing data center market.
Bryan Herta Autosport (BHA) is partnering with ABM to provide fast EV charging solutions for their Hyundai IONIQ 5 N vehicles at the 102nd Pikes Peak International Hill Climb in Colorado Springs on June 20, 2024. BHA aims to set new records in the Electric Production SUV/Crossover and Electric Modified SUV/Crossover categories. ABM is supplying two Terra 184 UL DC fast chargers, ensuring optimized charging for the 12.42-mile course with 156 turns and a 4,700-ft ascent. ABM, with over 30,000 EV ports nationwide, is a leader in EV infrastructure, emphasizing reliability and resilience. Key drivers include Robin Shute, Dani Sordo, and Ron Zaras.
ABM, a leading provider of integrated facility services, has secured a five-year, $25 million contract with the City of Phoenix to provide janitorial services at Phoenix Sky Harbor International Airport (PHX), Deer Valley Airport (DVT), and Goodyear Airport (GYR). This partnership spans 4.8 million square feet and aims to enhance traveler experience, operations, and sustainability. With close to 49 million travelers annually at PHX, ABM's proven track record at major US airports makes it a fitting partner. This contract underscores ABM's leadership in the sector, focusing on data-driven, quality service and environmental goals.
ABM announced a partnership with Rezcomm to enhance its ABM Vantage Smart Parking platform. The collaboration will be showcased at the 2024 IPMI Parking & Mobility Expo. ABM Vantage, first launched in 2022, integrates parking data, maximizes revenue, and empowers operations with data insights. The partnership aims to enhance parking management through Rezcomm's advanced reservation systems and mobile apps, introduce powerful analytics for data-driven decisions, and improve customer engagement with personalized experiences. Additionally, the platform will integrate sustainable solutions like EV charging infrastructure, supporting ABM's commitment to eco-friendly practices.
ABM (NYSE: ABM) announced its second quarter fiscal 2024 results, reporting a 2% revenue increase to $2.0 billion, driven entirely by organic growth. However, net income decreased by 16% to $43.8 million, and GAAP EPS fell by 12% to $0.69. Adjusted EBITDA dropped by 9% to $125.3 million, and adjusted EPS declined by 3% to $0.87. On the positive side, operating cash flow rose significantly to $117.0 million, and free cash flow increased to $101.4 million. The company also raised its fiscal year 2024 adjusted EPS outlook to a range of $3.40 to $3.50 from the prior range of $3.30 to $3.45. CEO Scott Salmirs highlighted the company's strong cash flow, successful organic revenue growth in multiple segments, and ongoing strategic initiatives as key factors contributing to their performance.
