Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leavin ...

NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- ABM (NYSE: ABM), a leading provider of integrated facility services, infrastructure solutions, and parking management today announced a strategic partnership with Mainspring Energy, Inc., in which ABM will deploy Mainspring's cutting-edge Linear Generator technology to enhance electric vehicle (“EV”) charging solutions for fleet, commercial and industrial clients that require turnkey offerings and on-site power generation projects. The availability and reliabili ...

NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) -- ABM (NYSE: ABM), one of the world's largest providers of integrated facility services, infrastructure solutions and parking management, today announced the appointment of Miranda Tolar as Executive Vice President and General Counsel effective January 1, 2025. In this critical role for the Company, Tolar will oversee the legal, compliance, risk and safety organization, succeeding Andrea Newborn who recently announced her retirement. Newborn will remain with the com ...

ABM Industries Inc. (NYSE: ABM ) is in the integrated facility and essential services business. It boasts strong and consistent cash flow generation along with a highly resilient business model, with exposure to some very strong secular tailwinds. It I specialize in analyzing individual stocks. With a strong educational background in both finance and economics, I've developed a deep fascination with the stock market and the potential it offers to investors at all levels. I keep a close watch on market trend ...

ABM Industries Incorporated (ABM) has had an impressive run in the past six months. The stock has gained 16%, outperforming the industry and the Zacks S&P 500 composite’s growth of 13% and 10%, respectively.Factors Driving the UptickABM’s diversified portfolio of services, including janitorial, engineering and facility services, has proven to be resilient during times of economic uncertainty. As businesses and institutions have heightened its focus on maintaining clean and safe environments, ABM has seen a ...

Small deep value individual investor, with a modest private investment portfolio, split approx. 50%-50% between shares and call options. I have a B.Sc. in aeronautical engineering and over 6 years of experience as an engineering consultant in the aerospace sector. The latter statement is not relevant in any way whatsoever to my investment style, but I thought to add it for self-indulgent purposes. I have a contrarian investment style, highly risky, and often dealing with illiquid options. How illiquid? Well ...

Company Performance - ABM Industries Incorporated (ABM) has experienced a significant share price increase of 29.3% over the past year [1] - The company holds an impressive Growth Score of A, indicating strong quality and sustainability in its growth metrics [1] Shareholder Returns - ABM has consistently rewarded shareholders through dividends and share buybacks, distributing $57.5 million in dividends in fiscal 2023, up from $51.9 million in 2022 and $51 million in 2021 [2] - The company returned $138.1 million through share repurchases in fiscal 2023, compared to $97.5 million in 2022, with no repurchases in 2021 [2] - In the first nine months of fiscal 2024, ABM generated $275 million in free cash flow, exceeding the $194 million generated in fiscal 2023 [2] Financial Stability - ABM's current ratio at the end of the third quarter was 1.38, significantly higher than the industry average of 0.92, indicating strong liquidity and financial stability [3] - The company's multi-year strategic plan, ELEVATE, aims to enhance client offerings, develop talent management capabilities, and modernize its digital ecosystem, which is expected to accelerate organic growth and improve profitability [3] Strategic Acquisitions - The acquisition of RavenVolt in 2022 is part of ABM's ELEVATE strategy, aimed at expanding its service offerings in EV infrastructure and energy solutions [4] - RavenVolt enhances ABM's eMobility business by providing customized power solutions for facilities requiring additional power for EV charging [4]

ABM Industries Incorporated (ABM) stock has gained 19.5%, outperforming the 11% rally of the industry it belongs to and the 8.6% rise of the Zacks S&P 500 composite in the past six months. ABM reported impressive third-quarter fiscal 2024 results. EPS (excluding 86 cents from non-recurring items) was 94 cents, which outpaced the Zacks Consensus Estimate by 10.6% and gained 19% on a year-over-year basis. Total revenues of $2.1 billion surpassed the consensus mark by 2.7% and increased 3.3% from the yearago q ...

ABM Industries Incorporated (ABM) reported impressive third-quarter fiscal 2024 results, wherein earnings per share (EPS) and revenues beat the Zacks Consensus Estimate.The stock price has not witnessed any significant impact of the earnings beat since the company released results on Sept. 6, 2024.ABM’s EPS (excluding 86 cents from non-recurring items) was 94 cents, which outpaced the Zacks Consensus Estimate by 10.6% and gained 19% on a year-over-year basis. Total revenues of $2.1 billion surpassed the con ...

Revenue Performance - Revenues increased by $66.0 million, or 3.3%, to $2,094.2 million during the three months ended July 31, 2024, driven by organic growth of 2.8% and acquisition growth of 0.4%[105] - Revenues increased by $178.5 million, or 3.0%, to $6,182.0 million for the nine months ended July 31, 2024, compared to the prior year period, driven by organic growth of 2.8% and acquisition growth of 0.1%[140] - Total revenues for the Business & Industry segment decreased by $10.8 million, or 1.1%, to $1,010.6 million in Q3 2024 compared to Q3 2023[123] - Manufacturing & Distribution revenues fell by $4.8 million, or 1.2%, to $377.1 million in Q3 2024, primarily due to customer rebalancing[126] - Education segment revenues increased by $9.2 million, or 4.2%, to $228.3 million in Q3 2024, driven by business expansion with existing customers[128] - Aviation revenues rose by $30.4 million, or 12.8%, to $268.4 million in Q3 2024, attributed to new business and recovery in travel volume[130] - Technical Solutions revenues increased by $41.8 million, or 24.9%, to $209.7 million in Q3 2024, with organic growth of 20.0% and acquisition growth of 4.9%[133] - Revenues in the Business & Industry segment decreased by $23.0 million, or 0.8%, to $3,033.4 million, primarily due to client attrition and soft market conditions[151] - Manufacturing & Distribution revenues increased by $31.1 million, or 2.7%, to $1,166.6 million, driven by expansion with existing customers[153] - Aviation segment revenues rose by $78.6 million, or 11.6%, to $756.1 million, reflecting strong performance in the sector[150] - Technical Solutions revenues increased by $68.5 million, or 14.2%, to $551.9 million, indicating growth in project completions and service demand[150] - Education revenues increased by $23.3 million, or 3.6%, to $674.0 million during the nine months ended July 31, 2024, compared to the prior year period[155] Operating Performance - Operating profit decreased by $101.5 million to $37.4 million during the same period, primarily due to fair value adjustments related to acquisitions and unfavorable self-insurance reserve adjustments[106] - Operating profit decreased by $110.3 million, or 36.4%, to $192.8 million, reflecting challenges in various segments[150] - Operating profit for Education increased by $2.8 million, or 7.1%, to $42.3 million during the nine months ended July 31, 2024[156] - Operating profit for Aviation decreased by $3.0 million, or 7.1%, to $40.6 million during the nine months ended July 31, 2024[158] - Operating profit for Technical Solutions increased by $12.6 million, or 43.6%, to $41.4 million during the nine months ended July 31, 2024[161] Expenses and Costs - Operating expenses increased by $65.2 million, or 3.7%, to $1,831.0 million, with a gross margin decrease of 37 basis points to 12.6%[113] - Selling, general and administrative expenses rose by $107.5 million to $211.8 million, primarily due to fair value adjustments related to acquisitions and the absence of employee retention credits[114] - Selling, general and administrative expenses increased by $114.8 million, or 27.9%, to $526.3 million, primarily due to fair value adjustments and increased costs associated with systems' go-live[142] - Corporate expenses surged to $130.6 million in Q3 2024, up $114.7 million from the prior year, mainly due to fair value adjustments related to the RavenVolt Acquisition[135] - Corporate expenses increased by $128.3 million, or 81.9%, to $285.0 million during the nine months ended July 31, 2024[162] Cash Flow and Borrowings - Net cash provided by operating activities was $196.3 million during the nine months ended July 31, 2024, an increase compared to the prior year period[108] - At July 31, 2024, total outstanding borrowings under the Amended Credit Facility were $1.3 billion, with a weighted average interest rate of 7.19%[171] - Total outstanding borrowings under the Amended Credit Facility were $1.3 billion as of July 31, 2024, with a borrowing capacity of up to $427.6 million[108] - Net cash used in investing activities increased by $113.0 million during the nine months ended July 31, 2024, primarily related to the Quality Uptime Acquisition[179] Taxation - Effective tax rate for the three months ended July 31, 2024, was 74.0%, significantly higher than 17.7% for the same period in 2023, influenced by discrete items related to energy efficiency incentives[107] - Effective tax rate for Q3 2024 was 74.0%, significantly higher than 17.7% in Q3 2023, resulting in tax provisions of $13.3 million and $21.2 million respectively[118] - The effective tax rate increased to 30.7% for the nine months ended July 31, 2024, compared to 22.8% for the same period in 2023[146] Strategic Initiatives - The ELEVATE strategy aims to strengthen industry leadership with investments totaling $200 - $215 million, focusing on client experience, team member experience, and technology utilization[97] Accounting Standards Updates - The company is currently evaluating the impact of the recently issued Accounting Standard Updates (ASUs) on its financial statements, specifically regarding segment reporting and income tax disclosures[184] - The ASU on segment reporting requires annual and interim disclosures of significant segment expenses, effective for fiscal years beginning after December 15, 2023[184] - The ASU on income taxes aims to enhance transparency and decision usefulness of income tax disclosures, effective for fiscal years beginning after December 15, 2024[184] Market Risk - There are no material changes related to market risk from the disclosures in the Annual Report on Form 10-K for the year ended October 31, 2023[186]