Core Viewpoint - ABM Industries has demonstrated strong financial performance, with significant year-over-year growth in earnings and revenues, while also implementing strategic initiatives to enhance its market position and shareholder value [4][5][8]. Financial Performance - ABM's EPS for Q3 fiscal 2024 was 94 cents, exceeding the Zacks Consensus Estimate by 10.6% and reflecting a 19% increase year-over-year [4]. - Total revenues reached $2.1 billion, surpassing the consensus mark by 2.7% and increasing by 3.3% compared to the same quarter last year [4]. - The company generated $275 million in free cash flow in the first nine months of fiscal 2024, up from $194 million in fiscal 2023 [8]. Strategic Initiatives - The ELEVATE strategic plan aims to enhance transparency, efficiency, and profitability while modernizing the digital ecosystem [5]. - The acquisition of RavenVolt in 2022 is part of the ELEVATE strategy, expanding ABM's Technical Solutions and enhancing its capabilities in electric vehicle infrastructure and energy solutions [6]. Shareholder Value - ABM distributed $57.5 million in dividends in fiscal 2023, alongside $138.1 million in share repurchases, indicating a commitment to returning value to shareholders [7][8]. - The company's current ratio stands at 1.38, significantly higher than the industry average of 0.92, indicating strong liquidity and financial stability [9].

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 ...