ABM Industries Stock Price, News & Analysis

Xylem (NYSE: XYL) has appointed Earl Ellis to its Board of Directors, effective March 9, 2023. Mr. Ellis, currently the CFO of ABM Industries (NYSE: ABM), brings over 25 years of financial expertise from his roles at major public companies like Best Buy and Campbell Soup. Xylem's leadership expressed excitement about his ability to enhance financial strategies and support growth while promoting diversity and sustainability initiatives. The company, a global leader in water technology, reported $5.5 billion in revenue for 2022 and aims to strengthen its solutions globally.

ABM (NYSE: ABM) has announced its fiscal first quarter 2023 earnings results will be released on March 8, 2023, before market open. A conference call will follow at 8:30 AM (ET), accessible via audio webcast or by phone. The company, a leading provider of integrated facility services, aims to enhance sustainability and health through its diverse offerings. With annualized revenue nearing $8 billion and over 100,000 employees, ABM serves various industries, including healthcare, education, and entertainment. A replay of the call will be available post-event until March 22, 2023.

ABM (NYSE: ABM) has initiated an Energy Performance Contracting program for the Dooly County School System in Georgia, projected to generate $3.7 million in energy and operational cost savings over 20 years. The project addresses critical upgrades, including improvements to HVAC, lighting, and athletic facilities, without requiring new capital from the community. ABM aims to enhance educational facilities while ensuring ongoing maintenance and custodial services.

Knightscope has partnered with ABM to deploy three Autonomous Robots at a US airport parking facility, enhancing monitoring and operational efficiency. The robots gather actionable intelligence with 360-degree visibility and advanced analytics capabilities. ABM also implemented over 1,200 EV charging stations and various smart parking solutions, aiming to improve the parking experience and reduce operational costs. This initiative is expected to elevate airport operations and enhance passenger loyalty.

ABM announced strong financial results for Q4 2022, reporting a revenue of $2.0 billion, marking a 19% year-over-year increase, with 6% organic growth. Net income rose to $48.9 million, leading to a GAAP EPS of $0.73, up 46% from the previous year. Adjusted EBITDA reached $130.7 million, an 18% increase year-over-year. The Board approved a $150 million expansion of share repurchase authorization. For 2023, ABM anticipates GAAP EPS between $2.43 and $2.63 and adjusted EPS of $3.40 to $3.60.

ABM Increases Quarterly Dividend

ABM (NYSE: ABM) announced a quarterly cash dividend increase from $0.195 to $0.22 per common share, effective February 6, 2023, for shareholders on record by January 5, 2023. This 12.8% increase reflects the company’s growth and the Board’s confidence in its cash flow. ABM aims to elevate its dividend payout ratio to 30%-35% of adjusted net income. ABM has now issued 227 consecutive quarterly cash dividends, showcasing its commitment to returning value to shareholders.

ABM, a leading facility solutions provider, will release its earnings for fiscal Q4 2022 on December 13, 2022, after market close. A conference call is scheduled for the same day at 5:00 PM (ET), accessible via audio webcast on the company’s website or by phone. Founded in 1909, ABM generates over $7 billion in annual revenue with more than 100,000 employees in over 350 offices globally. The company offers essential services across various industries, enhancing clean and sustainable environments.

ABM (NYSE: ABM), a leader in integrated facility services, will have its President and CEO, Scott Salmirs, and CFO, Earl Ellis, present at the RW Baird Global Industrial Conference in Chicago, IL, on November 8, 2022, at 11:50 AM ET. The presentation will be available via a live video webcast on the company’s website, ABM.com, with a replay accessible for 90 days post-event. Founded in 1909, ABM provides a range of essential services across various industries, generating over $7 billion in annual revenue and employing more than 100,000 team members worldwide.