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 reports developments in integrated facility, engineering and infrastructure services across commercial real estate, aviation, education, mission critical, manufacturing and distribution markets. Company news commonly covers operating and financial results, dividends, share repurchases, client partnerships, and service programs such as ABM Performance Solutions for facility operations, maintenance, cleaning and performance management.
ABM updates also describe technology-enabled facility platforms, including ABM Connect, and infrastructure work tied to energy systems and EV charging. Recent company developments include expanded technical capabilities in semiconductor fabrication environments following the completed WGNSTAR acquisition.
ABM (NYSE: ABM) announced that it will release its earnings results for the fiscal second quarter 2020 on June 17, 2020, after market close. A conference call will be held on June 18, 2020, at 8:30 AM (ET) accessible via audio webcast on their website. ABM is a leading provider of facility solutions with revenues of approximately $6.5 billion and about 140,000 employees worldwide. The company offers integrated services including janitorial, electrical, energy solutions, and more, catering to diverse clients from schools to airports.
ABM has amended its senior secured credit agreement, enhancing financial flexibility during the COVID-19 pandemic. The credit facility includes an $800 million revolving line of credit and an $800 million amortizing term loan, both maturing on September 1, 2022. As of April 30, 2020, ABM reported over $500 million on its balance sheet after drawing $300 million from its revolving credit. The amendment modifies existing covenants, allowing for a maximum total net leverage ratio, while also preserving dividend considerations. The changes are effective as of May 28, 2020.