ABM Industries Q1 Results Top Estimates; Boosts FY25 Outlook

ABM Industries

42.40 EUR -0.47%

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(RTTNews) - Facility management company ABM Industries, Inc. (ABM) reported on Friday that net income for the first quarter decreased to $43.6 million or $0.69 per share from $44.7 million or $0.70 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.87 per share, compared to $0.86 per share in the year-ago quarter.

Total revenue for the quarter grew 2.2 percent to $2.11 billion from $2.07 billion in the same quarter last year. Organic revenue growth was 1.6 percent.

On average, eight analysts polled expect the company to report earnings of $0.78 per share on net sales of $2.09 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2025, the company now projects adjusted earnings in a range of $3.65 to $3.80 per share, up from the prior guidance range of $3.60 to $3.80 per share. The Street is looking for earnings of $3.73 per share for the year.

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