Abm Industries Inc (ABM) SEC Filing 10-Q Quarterly Report for the period ending Saturday, July 31, 2021

Exhibit 99.1

ABM INDUSTRIES ANNOUNCES RESULTS FOR

THIRD QUARTER FISCAL 2021

— Double-Digit Revenue Growth Reflected Y-o-Y Increases Across All Business Segments —

— Continued Strong Operating Income From All Business Segments —

— GAAP Results Include Reserve for Previously Reported Litigation Settlement —

— Company Raises Adjusted EPS Guidance for Full Year Fiscal 2021 to Reflect

Strong Year-to-Date Performance —

— On August 25, 2021, Announced Definitive Agreement to Acquire Able Services —

New York, NY - September 8, 2021 - ABM (NYSE: ABM), a leading provider of facility solutions, today announced financial results for the third quarter of fiscal 2021.

Scott Salmirs, President and Chief Executive Officer of ABM Industries commented, “ABM generated strong third quarter financial results, driven by continued broad-based demand for our services and efficient execution within an improving business environment. Revenue increased at a double-digit rate, with each of our business segments achieving year-over-year growth, led by Aviation and Technical Solutions, along with continued solid growth in Business & Industry. Demand for our virus protection services remained strong, a trend that we expect to continue as clients value the health and safety benefits associated with frequent cleaning and disinfecting of high traffic locations.”

“Higher revenues, favorable mix, labor efficiencies as well as lower interest expense led to a 20% gain in adjusted earnings per share to $0.90. At the same time, we continued to execute on our long-term growth strategy by making investments in people and in technology that enhance our capabilities.”

Mr. Salmirs continued, “Our recently-announced acquisition of Able Services is expected to close by the end of September, and we will be delighted to welcome their talented and dedicated team to ABM. This transaction strengthens our engineering capabilities and expands our janitorial services, enabling us to better serve our clients with a broader array of services and solutions. We expect the addition of Able will be immediately accretive to our adjusted earnings per share, and we have identified $30 million to $40 million in operating synergies, the majority of which we expect to achieve in the first year after the transaction closes.”