ABM Industries (ABM) reported $2.18 billion in revenue for the quarter ended October 2024, representing a year-over-year increase of 4%. EPS of $0.90 for the same period compares to $1.01 a year ago.The reported revenue represents a surprise of +4.30% over the Zacks Consensus Estimate of $2.09 billion. With the consensus EPS estimate being $0.86, the EPS surprise was +4.65%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

ABM Industries (ABM) came out with quarterly earnings of $0.90 per share, beating the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $1.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.65%. A quarter ago, it was expected that this provider of cleaning and other maintenance services for commercial buildings, hospitals and airports would post earnings of $0.85 per share when it actually produced ea ...

Fourth Quarter 2024 Earnings Presentation December 18, 2024 1 Forward Looking Statements This press release contains both historical and forward-looking statements about ABM Industries Incorporated ("ABM") and its subsidiaries (collectively referred to as "ABM," "we," "us," "our," or the "Company"). We make forward-looking statements related to future expectations, estimates and projections that are uncertain, and often contain words such as "anticipate," "believe," "could," "estimate," "expect," "forecast, ...

Revenue Performance - Revenue for Q4 2024 was $2.2 billion, reflecting a 4.0% increase year-over-year, with 3.2% organic growth[1][4] - Full fiscal 2024 revenue totaled $8.4 billion, up 3.2% from the previous year, driven by double-digit growth in Technical Solutions and Aviation[1][8] - Revenues for the three months ended October 31, 2024, were $2,177.3 million, representing a 4.0% increase compared to $2,092.9 million in 2023[33] - For the fiscal year ended October 31, 2024, total revenues were $8,359.4 million, a 3.2% increase from $8,096.4 million in 2023[37] - The Aviation segment saw a revenue increase of 11.4% to $276.5 million, while the Technical Solutions segment grew by 34.9% to $257.4 million[45] Profitability and Loss - Net loss for Q4 2024 was $11.7 million, translating to a loss of $0.19 per share, primarily due to a $59.7 million adjustment related to the RavenVolt acquisition[1][5] - Operating profit decreased significantly by 81.9% to $19.2 million in Q4 2024 from $106.4 million in Q4 2023[33] - Net loss for the three months ended October 31, 2024, was $11.7 million, compared to a net income of $62.8 million in the same period of 2023, marking a 118.7% decline[33] - The net income for the year ended October 31, 2024, was $81.4 million, a decrease of 67.6% from $251.3 million in 2023[49] Adjusted Metrics - Adjusted EBITDA for Q4 2024 was $128.0 million, with an adjusted EBITDA margin of 6.1%[1][6] - Adjusted EPS for fiscal 2024 was $3.57, slightly up from $3.50 in fiscal 2023[1][11] - Adjusted net income for the three months ended October 31, 2024, was $57.5 million, down from $66.2 million in the prior year[52] - Adjusted EBITDA for the three months ended October 31, 2024, was $128.0 million, compared to $144.2 million in the prior year[52] Cash Flow and Capital Management - Net cash provided by operating activities was $30.3 million, with free cash flow at $15.5 million, both down significantly from the prior year[1][7] - Free cash flow for the three months ended October 31, 2024, was $15.5 million, significantly lower than $121.2 million in the same period of 2023[56] - The company repurchased $32.0 million of common stock in Q4 2024, totaling $55.8 million for the full fiscal year[1][14] Expenses and Liabilities - Operating expenses for the fiscal year 2024 were $7,325.9 million, up 4.1% from $7,037.6 million in 2023[37] - The company reported a significant increase in selling, general and administrative expenses, which rose by 48.2% to $239.0 million in Q4 2024 from $161.3 million in Q4 2023[33] - The company experienced a 33.6% increase in selling, general and administrative expenses for the fiscal year 2024, totaling $765.3 million compared to $572.8 million in 2023[37] - Total indebtedness at the end of Q4 2024 was $1.4126 billion, with a leverage ratio of 2.6x[1][13] Future Outlook - For fiscal 2025, the company expects adjusted EPS in the range of $3.60 to $3.80 and an adjusted EBITDA margin of 6.3% to 6.5%[1][16] - The company raised its quarterly dividend by 18%, now set at $0.265 per share, marking the 57th consecutive year of dividend increases[1][15] - The company expects to continue focusing on transformation initiatives and integration costs related to acquisitions in the upcoming quarters[57]

Revenue of $2.2 billion in the fourth quarter, including 3.2% organic growth Net loss of $11.7 million and GAAP loss per share of $0.19 in the fourth quarter, largely reflecting a $59.7 million adjustment to the RavenVolt acquisition cash earn-out Adjusted EBITDA of $128.0 million in the fourth quarter Adjusted EPS of $0.90 in the fourth quarterRepurchased $32.0 million of common stock in the fourth quarter and $55.8 million for full fiscal 2024Raises quarterly dividend 18%, as previously announcedFiscal 20 ...

In its upcoming report, ABM Industries (ABM) is predicted by Wall Street analysts to post quarterly earnings of $0.86 per share, reflecting a decline of 14.9% compared to the same period last year. Revenues are forecasted to be $2.09 billion, representing a year-over-year decrease of 0.3%.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over ...

Core Viewpoint - ABM is set to release its financial results for the fiscal fourth quarter of 2024 on December 18, 2024, before the market opens [1]. Group 1: Financial Results Announcement - The financial results will be announced on December 18, 2024, before market open [1]. - A quarterly conference call will be held on the same day at 8:30 AM (ET) for interested parties [2]. - The conference call can be accessed via audio webcast or by dialing specific numbers for domestic and international participants [2]. Group 2: Supplemental Information - A supplemental presentation will accompany the webcast and will be available on the company's website [3]. - A replay of the conference call will be available approximately three hours after the live event and can be accessed until January 1, 2025 [3]. Group 3: Company Overview - ABM is one of the largest providers of integrated facility services, with annualized revenue exceeding $8 billion [4]. - The company offers a wide range of facility services, including janitorial, engineering, parking, and energy solutions, among others [4]. - ABM operates over 350 offices globally, employing more than 100,000 team members [4].

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].

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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 ...