ABM Industries(ABM) ZACKS·2024-12-24 17:51Company Performance - ABM Industries reported impressive fourth-quarter fiscal 2024 results, with earnings per share (EPS) of 90 cents, surpassing the Zacks Consensus Estimate by 4.7% but declining 10.9% year-over-year [15][16] - Total revenues for ABM reached $2.2 billion, exceeding the consensus mark by 4.3% and increasing 4% from the previous year [16] - Adjusted EBITDA was $128 million, down 11% from the year-ago quarter, with an adjusted EBITDA margin of 6.2%, a decrease of 60 basis points from the previous quarter [6] Segment Performance - The Technical Solutions segment saw revenues increase by 34.9% to $257.4 million, outperforming estimates due to strong microgrid project activity [4] - The Manufacturing & Distribution segment's revenues decreased to $387.7 million, slightly surpassing expectations, driven by a large ecommerce customer's rebalancing of work [5] - The Education segment's revenues were $230 million, a marginal rise from the year-ago quarter, but missed estimates [11] - The Aviation segment's revenues increased by 11.4% year-over-year to $276.5 million, beating estimates due to strong travel markets [17] - The Business & Industry segment's revenues declined slightly year-over-year to $1 billion, but outperformed estimates [18] Financial Position - ABM exited the fourth quarter with cash and cash equivalents of $64.6 million, down from $86.3 million in the previous quarter, while long-term debt remained flat at $1.3 billion [12] - Net cash generated by operating activities was $30.3 million for the quarter, with free cash flow amounting to $15.5 million [12] Guidance - The company raised its EPS guidance for fiscal 2025 to an adjusted EPS of $3.6-$3.8, aligning the mid-point with the Zacks Consensus Estimate [20]