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

Abm Industries Inc

CIK: 771497 Ticker: ABM

Exhibit 99.1






— 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.”


The following information was filed by Abm Industries Inc (ABM) on Wednesday, September 8, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Abm Industries Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Consolidated Statements Of Stockholder's' Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Stockholders' Equity (Unaudited)
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (Details)
Basis Of Presentation And Significant Accounting Policies (Policies)
Basis Of Presentation And Significant Accounting Policies (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Credit Facility
Credit Facility (Tables)
Credit Facility - Credit Facility Information (Details)
Credit Facility - Interest Rate Swaps (Details)
Credit Facility - Interest Rate Swaps Narrative (Details)
Credit Facility - Narrative (Details)
Credit Facility - Term Loan Maturities (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Fair Value Of Financial Instruments - Narrative (Details)
Income Taxes
Income Taxes (Details)
Insurance (Tables)
Insurance - Instruments Used To Collateralize Insurance Obligations (Details)
Insurance - Insurance Related Balances And Activity (Details)
Insurance - Narrative (Details)
Net Income (Loss) Per Common Share
Net Income (Loss) Per Common Share (Tables)
Net Income (Loss) Per Common Share - Anti-Dilutive Outstanding Stock Awards Issued Under Share-Based Compensation Plans (Details)
Net Income (Loss) Per Common Share - Calculations Of Basic And Diluted Net Income Per Common Share (Details)
Revenues (Tables)
Revenues - Contract With Customer, Asset And Liability (Details)
Revenues - Disaggregation Of Revenue (Details)
Revenues - Remaining Performance Obligations Narrative (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Subsequent Events
Subsequent Events (Details)
The Company And Nature Of Operations
The Company And Nature Of Operations (Details)

Material Contracts, Statements, Certifications & more

Abm Industries Inc provided additional information to their SEC Filing as exhibits

Ticker: ABM
CIK: 771497
Form Type: 10-Q Quarterly Report
Accession Number: 0000771497-21-000026
Submitted to the SEC: Thu Sep 09 2021 4:24:45 PM EST
Accepted by the SEC: Thu Sep 09 2021
Period: Saturday, July 31, 2021
Industry: To Dwellings And Other Buildings

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