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NEW YORK - ABM Industries (NYSE: ABM), a prominent facility solutions provider with a market capitalization of $3 billion and trading at a P/E ratio of 37.5, today announced the elevation of David Orr to the role of Executive Vice President and Chief Financial Officer. Orr, who has been with the company since 2001, succeeds Earl Ellis, marking a new chapter in ABM’s leadership. According to InvestingPro analysis, the company’s net income is expected to grow this year.
Orr’s promotion comes after a notable tenure as Senior Vice President, where he spearheaded significant enhancements in financial planning and strategic initiatives since 2015. His extensive experience within ABM, including pivotal roles in finance, strategy, and operations, has positioned him as a key contributor to the company’s ongoing transformation processes. The company maintains strong financial health, with liquid assets exceeding short-term obligations and a current ratio of 1.55.
Scott Salmirs, President and CEO of ABM, expressed confidence in Orr’s capabilities, citing his deep industry knowledge and commitment to operational excellence. Orr expressed gratitude for the opportunity and his eagerness to drive growth and value creation for ABM.
The transition reflects ABM’s internal talent development, with Orr having progressed through various leadership roles since joining the company’s lighting services division. His academic credentials include a bachelor’s degree from the University of North Carolina at Chapel Hill and an MBA from the Belk College of Business at UNC Charlotte.
ABM, which boasts over 100,000 team members and generates over $8 billion in annual revenue, provides integrated facility, engineering, and infrastructure solutions across various market sectors. The company emphasizes innovation and sustainable solutions in its operations.
This strategic move aligns with ABM’s commitment to fostering leadership from within and ensuring continuity in its financial and operational strategies. The information regarding this executive change is based on a press release statement from ABM Industries.
In other recent news, ABM Industries reported its fiscal second-quarter 2025 results, revealing a 4.6% increase in revenue to $2.1 billion compared to the same period last year. The company’s adjusted earnings per share (EPS) were $0.86, slightly below the forecasted $0.87, which may have contributed to some investor concerns. Despite this, ABM Industries reaffirmed its full-year adjusted EPS guidance of $3.65 to $3.80. UBS analysts upgraded ABM Industries’ stock rating to Buy from Neutral, raising the price target to $54, citing an improved business outlook and a return to growth in the Business & Industry segment. Similarly, Baird analysts upgraded the stock to Outperform, highlighting strong new work and awards as indicators of a promising year ahead. The analysts also noted potential for above-average accounts receivable collection due to the cautious implementation of an enterprise resource planning system. ABM’s largest segment, Business & Industry, showed a 2.6% growth after over two years of stagnation, attributed to a stabilizing office environment. Despite some temporary issues affecting the stock, analysts see the pullback as an opportunity given the improved outlook.
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