ABM Industries Stock Price, News & Analysis

ABM has launched a new Energy Savings Performance Contract (ESPC) with the U.S. General Services Administration (GSA) aiming to save approximately $34.3 million over 20 years through a projected 37% energy reduction across nine federal facilities in Alabama, Mississippi, and North Carolina. The initiative includes ventilation upgrades to enhance indoor air quality. ABM's total investment in GSA energy solutions now exceeds $100 million.

Key upgrades involve HVAC renovations, energy-efficient lighting retrofitting, and water conservation measures.

ABM, a facility solutions provider, has appointed Rene Jacobsen as Executive Vice President and Chief Operating Officer, effective November 1, 2020. Jacobsen has been pivotal in enhancing operational efficiencies since 2019 and previously held the role of Executive Vice President and Chief Facilities Officer. He will now oversee operations across all business segments. With over 30 years of experience in facility services, Jacobsen's leadership during the COVID-19 pandemic has been lauded. ABM operates with revenues of approximately $6.5 billion and over 140,000 employees.

ABM (NYSE: ABM) has appointed Earl Ellis as its new Executive Vice President and Chief Financial Officer, effective November 30. Ellis previously held multiple executive roles at Best Buy, where he oversaw financial strategies and capital project planning. He brings extensive experience from other public companies, enhancing ABM's leadership team as it navigates ongoing transformations. CEO Scott Salmirs expressed confidence in Ellis's ability to support the company's strategic growth, particularly in responding to clients' needs during challenging times.

ABM, a facility solutions provider, has launched an Energy Performance Contracting program for the McKeesport Area School District, expecting to save $7.8 million in energy and operating costs. This initiative allows the school district to fund critical upgrades to their facilities, including improved indoor air quality and athletic and STEM facilities. The project enhances HVAC systems, lighting, and renovations at several schools, demonstrating ABM's commitment to educational equity. This program supports over 500 educational institutions across the U.S.

ABM (NYSE: ABM), a top facility solutions provider, will participate in the Sidoti Virtual Investor Conference on September 23, 2020, starting at 3:15 PM ET. The presentation will be accessible via a live audio webcast on the Company’s website, www.abm.com, and will be archived for 90 days post-event. With approximately $6.5 billion in revenue and 140,000 employees, ABM operates over 350 offices, offering integrated solutions in various sectors including janitorial, electrical, energy, and HVAC services.

ABM (NYSE: ABM) announced its participation in the CL King Best Ideas Conference, occurring virtually on September 16, 2020. The discussion will commence at 10:15 AM ET, with a live audio webcast available in the ‘Investors’ section of the ABM website. An archived version will be accessible for 90 days post-event. ABM is a significant player in the facility solutions sector, boasting revenues of about $6.5 billion and a workforce of approximately 140,000 across over 350 offices.

ABM reported Q3 2020 revenues of $1.394 billion, a decrease of 15.4% compared to last year, largely due to COVID-19 disruptions. However, GAAP income from continuing operations rose 53.4% to $56 million, or $0.83 per diluted share, supported by favorable prior year adjustments. Adjusted income increased 24.6% to $50.1 million, or $0.75 per diluted share. Free cash flow reached $121 million, reflecting strong operational management. Notably, the company declared its 218th consecutive quarterly dividend of $0.185. Guidance for fiscal 2020 remains uncertain due to ongoing pandemic impacts.

ABM (NYSE: ABM) has launched its EnhancedClean™ program nationwide, aimed at providing safe and effective disinfection services to clients and the public. This three-step approach includes certified disinfection processes, utilizing EPA-approved disinfectants and advanced technologies like electrostatic sprayers. EnhancedClean is designed to mitigate the spread of COVID-19 and other pathogens in various facilities, ensuring health and safety. The program reflects ABM's commitment to upholding the highest standards in cleaning protocols, facilitated by ongoing training and expert advisory support.

ABM has appointed Melanie Kirkwood Ruiz as its new Chief Information Officer. Previously at Cushman & Wakefield, she brings 20 years of experience in technology and various industries. Ruiz will oversee ABM's IT optimization, enhance client-facing technologies, and lead the company's technology strategy. ABM, a leading facility solutions provider with approximately $6.5 billion in revenue and 140,000 employees, aims to better align its digital capabilities with strategic priorities under Ruiz's leadership.