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ABM Industries Inc. (NYSE:ABM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
ABM Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 18.18% to $0.26 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 10.09% to $1.18 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: ABM Industries Inc. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.22. It beat the average revenue estimate of $1.17 billion.
Quoting Management: “We are encouraged by our first quarter operational results,” said ABM`s president and chief executive officer Henrik Slipsager. “Sales from our newly-acquired Air Serv Corporation, HHA Services and Calvert-Jones businesses and organic growth in our Janitorial, ABM Facility Services and Security segments produced a 10% revenue gain for the quarter. ABM Facility Services and Security showed strong organic revenue growth of 8% and 5%, respectively, compared to fiscal 2012 as they continue to benefit from new sales. The Building & Energy Solutions segment was impacted by lower revenue of $17.6 million primarily as a result of the comparative mix and timing of certain awarded and completed U.S. Government contracts. Our pipeline of future business is trending very well across all operating segments and we are seeing some positive signs in our government business. We were recently awarded two linguist task orders by the Department of Defense under the Defense Language Interpreting and $Translation Enterprise (DLI) contract, which are expected to contribute to second quarter revenues. In addition, in February we signed a $25 million energy retrofit contract with Wright State University, which demonstrates our unique capabilities of providing clients with cost efficient and green long-term solutions to their facility service needs.”
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