ABM Industries Beats Revenue, Misses Profit

ABM Industries reported stronger-than-expected Q3 revenue, with a 5.4% increase to $2.3 billion, surpassing Wall Streets predictions. However, adjusted profit per share fell short by 19%, attributed to a self-insurance adjustment. Despite this, the company highlighted robust organic growth across key areas and praised exceptional team execution. ABM is optimistic about continued demand and momentum from recent contract wins, including a significant aviation services award and the acquisition of WGNSTAR. The company plans to invest in technology and operational efficiency to drive productivity and improve profit margins.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.