ABM Industries, Inc. - ABM STOCK NEWS

ABM reported a strong first quarter for fiscal 2022, achieving $1.9 billion in revenue, marking a 29.7% year-over-year increase. This included 9.1% organic growth, primarily driven by a 42% revenue gain in the Aviation sector. The company posted a net income of $76.0 million and a GAAP EPS of $1.11. ABM initiated a share repurchase program and raised its full year guidance for GAAP EPS to between $2.65 and $2.85.

Despite challenges in the labor market and a decrease in high-margin disinfection services, ABM maintains a favorable outlook.

ABM, a leading facility solutions provider, will release its fiscal first quarter 2022 earnings on March 8, 2022, after market close. A conference call is scheduled for the same day at 5:00 PM (ET) to discuss the results. Interested parties can access the call via an audio webcast or by phone. ABM operates in over 350 offices globally, providing comprehensive services, including janitorial, engineering, and more, with an annual revenue exceeding $6 billion.

On December 15, 2021, ABM hosted a virtual Investor Day, detailing its strategic growth plan known as ELEVATE. The initiative focuses on enhancing the client and team member experiences and leveraging industry-leading technology and data. Key components include forming a new Manufacturing & Distribution group and enhancing existing industry structures to better support clients. CEO Scott Salmirs emphasized that these changes are designed to unlock long-term value and improve operational performance, particularly in light of evolving market trends and the impacts of COVID-19.

ABM reported Q4 revenue of $1.7 billion, a 14.2% increase year-over-year, driven by a 7.4% organic growth. Continuing EPS was $0.50, with adjusted EPS at $0.85. The full-year GAAP EPS reached $1.86, while adjusted EPS was $3.58, exceeding guidance. The acquisition of Able Services enhanced capabilities and growth potential. The company announced a 2.6% dividend increase, marking its 223rd consecutive dividend. For FY 2022, GAAP EPS guidance is $2.05 to $2.30, with adjusted EPS of $3.30 to $3.55.

ABM (NYSE: ABM) will announce its fiscal fourth quarter and full year 2021 financial results on December 15, 2021, at 7:30 AM ET. A Virtual Investor Day will follow from 8:30 AM to 11:30 AM ET, led by CEO Scott Salmirs and the senior leadership team. They will present the company’s strategic plans and financial targets, along with the fourth quarter results. The presentation can be accessed via webcast on the company's website and will be archived for 90 days. ABM, with revenues of approximately $6 billion, provides diverse facility solutions.

ABM Industries (NYSE: ABM) has appointed Paul Goldberg as Senior Vice President of Investor Relations, effective immediately. Goldberg, with over 25 years of investor relations experience, previously held leadership roles at Atotech and Dover Corporation. His expertise will enhance ABM's investor communications as the company implements its long-term growth strategy. ABM currently generates approximately $6 billion in revenue and employs over 100,000 individuals across more than 350 locations. This strategic hire aims to strengthen ABM's engagement with the investor community.

ABM Industries (NYSE: ABM) has finalized its acquisition of Able Services, enhancing its facilities services portfolio. This strategic move is expected to generate nearly $2 billion in combined annual revenue. The acquisition strengthens ABM's engineering and technical capabilities while expanding its sustainability offerings. ABM, with approximately $6 billion in revenue and a workforce exceeding 100,000, aims to leverage this acquisition to better address client needs and innovate solutions within the facility management sector.

ABM has launched a project in partnership with the New York Power Authority to develop overhead electric bus charging infrastructure for New York City Transit, aligning with New York’s clean energy goals. The project is in the design phase, preparing facilities for electric buses set to operate by late 2022. Significant installations will occur in bus depots in Manhattan, Brooklyn, and the Bronx. ABM aims to support the Metropolitan Transportation Authority's commitment to a fully electric bus fleet by 2040, leveraging its extensive experience with over 20,000 EV charging ports installed.

ABM reported strong financial results for Q3 2021, with revenue of $1.54 billion, up 10.7% year-over-year, driven by growth across all business segments. Adjusted EPS increased by 20% to $0.90, reflecting a favorable business trend and efficient operations. The company raised its FY 2021 adjusted EPS guidance to $3.45-$3.55, influenced by robust year-to-date performance. Notably, ABM announced plans to acquire Able Services, enhancing its capabilities and targeting $30-$40 million in operating synergies.