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ABM Industries Inc. (NYSE: ABM) is a leading provider of integrated facility solutions, headquartered in New York. Founded in 1909 by Morris Rosenberg in San Francisco as a window-washing business, it has grown into a multinational corporation with over 100,000 employees and annualized revenue exceeding $8 billion. ABM operates through five segments: Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions, with a strong focus on janitorial, engineering, and parking services. The company collaborates with a vast array of industries, including commercial real estate, airports, schools, hospitals, and entertainment venues.
ABM is renowned for its innovation and commitment to sustainability. Recent achievements include a partnership with LaGuardia Gateway Partners to enhance operations at LaGuardia Terminal B, a new energy performance contract in Clarke County, and janitorial services for Phoenix's three major airports. ABM also focuses on eMobility solutions, supporting EV infrastructure and fleet electrification. The company is dedicated to diversity and inclusion, with CEO Scott Salmirs recognized on the Empower Advocates Role Model list for leadership in promoting workplace inclusivity.
Financially, ABM has shown resilience and growth, with a reported revenue increase to $2.1 billion in Q1 2024 and an adjusted EPS forecast raised to $3.40 to $3.50 for fiscal 2024. The company continues to leverage its ELEVATE strategy to drive operational efficiency and client satisfaction.
ABM announced advancements to its smart parking solution, ABM Vantage, specifically designed for the aviation sector. This initiative aims to enhance the overall guest parking experience at airports, aligning with growing travel demands as reported by the U.S. Travel Association, which noted that over 50% of Americans are expected to travel for leisure in the first half of 2023. The new services integrate seamlessly with existing infrastructure and provide features like electric vehicle charging and valet services. ABM operates in 27 of the top 30 U.S. airports and recently collaborated with LAWA to implement a smart parking solution at LAX, winning the Innovative Facility of the Year award. This solution supports clients in achieving ESG goals by reducing emissions and improving connectivity.
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