Financial Data and Key Metrics Changes - Third quarter revenue reached $2.1 billion, an increase of 3.3%, driven by 2.8% organic growth and contributions from recent acquisitions [16][17] - Adjusted EPS was $0.94, reflecting a 19% increase year-over-year, supported by improved segment operating results and a lower share count due to share repurchases [18][24] - Adjusted EBITDA increased by 2% to $128.1 million, with an adjusted EBITDA margin of 6.4%, consistent with the previous year [18] Business Line Data and Key Metrics Changes - B&I segment revenue declined by 1% to $1 billion, with operating profit also down by 1% to $77.8 million, maintaining an operating margin of 7.7% [19] - Aviation segment revenue grew by 13% to $268.4 million, with operating profit increasing by 52% to $17.8 million, resulting in a margin of 6.6% [19] - Manufacturing and Distribution (M&D) revenue declined by 1% to $377.1 million, but operating profit increased by 8% to $40.9 million, with an operating margin of 10.9% [20] - Education segment revenue increased by 4% to $228.3 million, with operating profit up 13% to $18 million, achieving a margin of 7.9% [21] - Technical Solutions revenue grew by 25% to $209.7 million, with organic growth of 20%, and operating profit increased by 56% to $17.9 million, resulting in a margin of 8.5% [22] Market Data and Key Metrics Changes - The commercial real estate market remains under pressure, but there are signs of stabilization, with 38% of corporate real estate executives planning to expand office space [11] - The manufacturing and distribution markets are healthy, driven by strong industrial economy trends and onshoring manufacturing in the US [12] - The aviation market is robust, with ABM emerging as a leader in facilities management, contributing to the segment's growth [13] Company Strategy and Development Direction - The company is focused on diversifying and strengthening its core services, particularly in high-growth markets such as data centers and energy solutions [9][10] - Continued investment in technology and analytics, such as the workforce productivity optimization tool, is expected to enhance operational efficiency [8][35] - The acquisition of Quality Uptime Services is part of the strategy to expand capabilities in the data center vertical [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in the commercial real estate market, although caution is advised regarding the timing and scope of this recovery [11] - The company raised its full-year guidance for adjusted EPS to a range of $3.48 to $3.55, reflecting confidence in a strong finish to the year [15][24] - Management highlighted the importance of maintaining profitability thresholds and being selective about client contracts to ensure value [54] Other Important Information - Total indebtedness at the end of Q3 was $1.4 billion, with available liquidity of $513.9 million [22][23] - Free cash flow for the third quarter was $64 million, with year-to-date free cash flow of $152 million, reflecting strong cash generation capabilities [23] Q&A Session Summary Question: Guidance on EPS expectations for Q4 - Management indicated that the strong performance in Q3, particularly in Technical Solutions, is not expected to fully carry over to Q4 due to rebalancing impacts in M&D [28][29] Question: Sustainability of segment margin improvements - Management confirmed that margin improvements are sustainable, driven by operational resilience and efficiency gains, despite some expected pressure in M&D [30][31] Question: Factors driving labor efficiencies - Labor costs have stabilized, and the availability of labor has improved, contributing to better margins across segments [34][35] Question: Update on B&I segment revenue expectations - Management remains optimistic about the B&I segment, which has shown resilience despite the challenges in commercial real estate [40][41] Question: Insights on the microgrid business - The microgrid business is primarily driven by new clients, with strong cross-selling opportunities expected as the business matures [56][57] Question: Capital allocation strategy regarding M&A - The company will continue to balance capital allocation between M&A opportunities and shareholder returns, with a focus on accretive acquisitions [61][62]

The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. ABM Industries (ABM) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.ABM Industries is a member of our Business Services group, which ...

ABM Industries (ABM) reported $2.09 billion in revenue for the quarter ended July 2024, representing a year-over-year increase of 3.3%. EPS of $0.94 for the same period compares to $0.79 a year ago.The reported revenue represents a surprise of +2.75% over the Zacks Consensus Estimate of $2.04 billion. With the consensus EPS estimate being $0.85, the EPS surprise was +10.59%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

ABM Industries (ABM) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.59%. 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 $0.78 per share when it actually produced e ...

Exhibit 99.1 ABM REPORTS THIRD QUARTER FISCAL 2024 RESULTS AND RAISES OUTLOOK FOR FISCAL YEAR 2024 ADJUSTED EPS • Revenue up 3.3% to $2.1 billion, including organic growth of 2.8% • Net income of $4.7 million and GAAP EPS of $0.07, each down 95%, largely reflecting the increased likelihood of a cash earn-out payment under the Ravenvolt acquisition agreement • Adjusted net income of $59.5 million and Adjusted EPS of $0.94, up 13% and 19%, respectively • Adjusted EBITDA of $128.1 million, up 2% • Raises outlo ...

Revenue up 3.3% to $2.1 billion, including organic growth of 2.8%Net income of $4.7 million and GAAP EPS of $0.07, each down 95%, largely reflecting the increased likelihood of a cash earn-out payment under the Ravenvolt acquisition agreementAdjusted net income of $59.5 million and Adjusted EPS of $0.94, up 13% and 19%, respectivelyAdjusted EBITDA of $128.1 million, up 2%Raises outlook for fiscal year 2024 Adjusted EPS to $3.48 to $3.55, from $3.40 to $3.50 (1) NEW YORK, Sept. 06, 2024 (GLOBE NEWSWIRE) -- A ...

In its upcoming report, ABM Industries (ABM) is predicted by Wall Street analysts to post quarterly earnings of $0.85 per share, reflecting an increase of 7.6% compared to the same period last year. Revenues are forecasted to be $2.04 billion, representing a year-over-year increase of 0.5%.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 ove ...

Company Announcement - ABM will release its financial results for the fiscal third quarter 2024 on September 6, 2024, before market open [1] - A quarterly conference call will be held on the same day at 8:30 AM (ET), accessible via audio webcast or by phone [1] - A supplemental presentation will accompany the webcast, and a replay will be available for three hours after the call until September 20, 2024 [1] Company Overview - ABM is one of the largest providers of integrated facility services globally, focusing on creating cleaner, healthier, and more sustainable environments [2] - The company offers a wide range of services including janitorial, engineering, parking, electrical & lighting, energy solutions, HVAC & mechanical, landscape & turf, and mission-critical solutions [2] - Founded in 1909, ABM has annualized revenue exceeding $8 billion and employs over 100,000 team members across more than 350 offices in the US, UK, and other international locations [2]

The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. ABM Industries (ABM) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.ABM Industries is one of 316 companies in the Business Services group. The Business Services group currently sits at #6 within the ...

NEW YORK, Aug. 15, 2024 (GLOBE NEWSWIRE) -- ABM (NYSE: ABM), a leading provider of integrated facility services, infrastructure solutions, and parking management, is pleased to announce it has recently been awarded a NASPO ValuePoint® contract for electric vehicle (EV) charging infrastructure. This important contract authorizes ABM to offer its industry-leading, single-source EV charging infrastructure solutions to state and local government and educational entities across the nation more efficiently and c ...