Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
NEW YORK - ABM Industries Incorporated (NYSE:ABM) reported better-than-expected fourth quarter results and provided upbeat guidance for fiscal 2025. Shares were trading marginally higher in premarket trading Wednesday, up 0.16%.
The facility solutions provider posted adjusted earnings per share of $0.90 for the quarter ended October 31, topping analyst estimates of $0.87. Revenue rose 4% YoY to $2.2 billion, exceeding the consensus forecast of $2.07 billion.
ABM's fourth quarter performance was highlighted by 3.2% organic revenue growth, driven by strong gains in its Technical Solutions and Aviation segments. Technical Solutions revenue surged 35% YoY, while Aviation revenue increased 11%.
"ABM finished the year well, with double-digit revenue growth in Technical Solutions and Aviation, and our performance also reflected the continued resilience of our Business & Industry segment," said Scott Salmirs, President and CEO.
For fiscal 2025, ABM expects adjusted earnings per share between $3.60 and $3.80, above the analyst consensus of $3.54. The company anticipates adjusted EBITDA margin in the range of 6.3% to 6.5%.
"We are emerging a stronger company after navigating through several industry-related challenges over the last couple of years," Salmirs added. "Given this positive backdrop, we expect revenue, margin and earnings growth in 2025."
The company also announced an 18% increase to its quarterly dividend.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.