Welcome to our dedicated page for ABM Industries news (Ticker: ABM), a resource for investors and traders seeking the latest updates and insights on ABM Industries stock.
ABM Industries, Inc. (NYSE: ABM) generates a steady stream of news as one of the world’s largest providers of integrated facility, engineering, and infrastructure solutions. Company announcements highlight its role in making spaces cleaner, safer, and more efficient for clients across commercial real estate, aviation, education, mission critical environments, and manufacturing and distribution.
On this page, readers can follow ABM’s updates on financial performance, strategic initiatives, and sector-specific projects. Recent releases include quarterly and full-year earnings reports that discuss segment trends in Business and Industry, Aviation, Education, Manufacturing and Distribution, and Technical Solutions, as well as commentary on organic growth, cash flow, and capital allocation through share repurchases and dividends.
ABM’s news also covers infrastructure and technical projects, such as its work with the Alexandria, Virginia, Transit Company (DASH) to install an in-route pantograph charger, power cabinets, and supporting electrical infrastructure for electric bus charging. Announcements related to the definitive agreement to acquire WGNSTAR provide insight into ABM’s expansion into semiconductor and high-technology manufacturing services through managed workforce and equipment support solutions.
Governance and leadership developments feature prominently, with updates on board appointments, committee assignments, and executive promotions in areas like information technology and corporate strategy. Recognition items, such as ABM’s inclusion on Selling Power’s list of 60 Best Companies to Sell For, offer additional context on the company’s culture and sales organization.
Investors and observers can use this news feed to monitor ABM’s earnings releases, acquisition activity, infrastructure projects, and leadership changes in one place, returning regularly to see how the company’s integrated facility, engineering, and infrastructure solutions evolve across its key end markets.
ABM announced the amendment of its senior secured credit agreement, increasing its credit facility to $1.95 billion, which includes a $1.3 billion revolving credit facility and a $650 million term loan, maturing on June 28, 2026. The company's borrowing capacity has risen from $622 million to $1.1 billion. With $435.7 million in cash as of April 30, 2021, the amendment improves financial flexibility, allowing greater liquidity for strategic growth, and removes certain limitations on dividends and investments.
ABM (NYSE: ABM) has launched an Energy Performance Contracting program for the Charleroi Area School District (CASD) in Pennsylvania, projected to save $4.6 million in energy and operating costs. This program will enhance indoor air quality through improvements in HVAC and lighting systems and the addition of Needlepoint Bipolar Ionization technology. It allows school districts to upgrade facilities without incurring upfront costs or relying on community capital. CASD serves around 1,500 students, and this initiative aims to address ventilation and facility issues raised during the COVID-19 pandemic.
ABM announced strong operating income growth for Q2 2021, reporting revenues of $1.497 billion, up 0.1% year-over-year, despite challenges in the Aviation segment. The GAAP EPS was $0.46, including a $0.32 reserve for ongoing litigation, while adjusted EPS rose 36.7% to $0.82. Operating profit surged to $50.3 million from a loss of $116.7 million last year, reflecting effective labor management and high demand for cleaning services. Cash flow from operations totaled $171 million. For FY 2021, ABM raised its adjusted income guidance to $3.30-$3.50 per diluted share.
ABM will release its fiscal second quarter 2021 earnings on June 8, 2021, after market close. The company, which reported revenues of approximately $6.0 billion and employs over 100,000 people, will host a conference call on June 9, 2021, at 8:30 AM (ET) for interested parties. The call can be accessed via audio webcast on the company’s website. A supplemental presentation will accompany the event, and a replay will be available for two weeks.
ABM Industries has received accreditation from the ANSI National Accreditation Board (ANAB) for its EnhancedClean™ Training Program, aligning with ANSI/ASTM E2659-18 standards. This program aims to bolster infection control amidst COVID-19, enhancing safety for organizations as they resume operations. Developed with expert input, the program includes online modules and specialized training for disinfection specialists. The ANAB accreditation, recognized globally, reinforces confidence in ABM's training efforts, underscoring its commitment to effective cleaning protocols. ABM operates with approximately $6.0 billion in revenue.
ABM reported strong Q1 results for fiscal 2021, with GAAP earnings per share of $1.10 and adjusted EPS of $1.01. Revenue stood at $1.49 billion, a 7.5% decrease year-over-year due to COVID-19 impacts, but higher demand for EnhancedClean™ services and effective labor management contributed to a significant operating profit increase of 139.5% to $109.7 million. The company also achieved over $45 million in cash flow from operations and declared a quarterly dividend, marking its 220th consecutive payout. Fiscal 2021 guidance indicates a projected adjusted income per share of $3.00 to $3.25.
ABM will release its fiscal Q1 2021 earnings results on March 9, 2021, post-market. A conference call for stakeholders is scheduled for March 10, 2021, at 8:30 AM (ET), accessible via the ABM website or by dialing in. The company reports revenues of approximately $6.0 billion and has over 100,000 employees across more than 350 offices. It provides diverse facility solutions including janitorial, energy, and HVAC services, serving various property types from schools to airports.
ABM has partnered with ASM Global to enhance the VenueShield reopening protocols aimed at ensuring safety in live venues. This initiative will aid in the reopening of over 325 ASM venues worldwide by implementing comprehensive health and safety measures based on insights from leading health experts. ABM will utilize its expertise to boost the effectiveness of these protocols, emphasizing adherence to CDC guidelines. Through these efforts, both companies aim to provide high-quality service and secure experiences for guests as facilities begin to reopen during the ongoing pandemic.
ABM (NYSE: ABM) has appointed Quincy Allen, former Chief Marketing Officer of IBM Cloud, as an independent director to its Board of Directors. His extensive background in operational technology and business development is seen as crucial for ABM's ongoing efforts to enhance its facilities services and IT strategy. Allen has held significant roles at companies including Unisys and Xerox, bringing over 27 years of experience. ABM, with revenues of approximately $6 billion, operates across diverse sectors providing customized facility solutions.
ABM has launched a fifth phase Energy Savings Performance Contract (ESPC) with Madison County Schools in Georgia, projected to save approximately $40 million over 17 years. This phase includes energy-efficient upgrades and enhanced disinfection programs to improve indoor air quality and reduce pathogen transmission. Upgrades involve adding HVAC systems to gymnasiums and implementing EnhancedClean™ and EnhancedFacility™ programs to ensure safe environments for students and staff during ongoing health concerns.