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ABM Enjoys Record 2Q Revenues

Print Article Contributed by BSM Staff

NEW YORK -- ABM, a provider of facility solutions, posted record revenues of $1.6 billion in the second quarter.

The company said it made $29.7 million, or 45 cents a share, on sales of $1.594.7 billion, compared to a profit of $26.6 million, or 40 cents a share, on sales of $1.58 billion in the same quarter last year.

Scott Salmirs, president and CEO of ABM Industries, said, the company “continued to demonstrate solid performance as we executed against our plans for the second quarter.  We also delivered record new sales bookings of $590 million through the first half of fiscal 2019, compared to $460 million for the same period last year, underscoring our commitment to a strong sales culture."

The Company ended the quarter with total debt, including standby letters of credit, of $1.1 billion.
In addition, the Company paid its 212th quarterly cash dividend of $0.180 per common share for a total distribution of $11.9 million.

The Company is narrowing its outlook for fiscal 2019 to reflect its year-to-date performance. As a result, the Company now expects GAAP income from continuing operations of $1.70 to $1.80 per diluted share.
Excluding items impacting comparability, adjusted income from continuing operations is expected to be in the range of $1.95 to $2.05 per diluted share for the 2019 fiscal year. 

"The foundational improvements we are making to our infrastructure in 2019 will lay the groundwork for an even stronger and more prosperous long-term future,” said Salmirs. “I want to thank our entire organization for their hard work and diligence and look forward to working towards our goals in the second half of the year.  Our team members remain the bedrock of ABM's success."

ABM's comprehensive capabilities include janitorial, electrical & lighting, energy solutions, facilities engineering, HVAC & mechanical, landscape & turf, mission critical solutions and parking, provided through stand-alone or integrated solutions.

For more information, visit www.abm.com.









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