Abm Industries Inc (ABM) SEC Filing 10-Q Quarterly Report for the period ending Monday, January 31, 2022

Abm Industries Inc

CIK: 771497 Ticker: ABM


Exhibit 99.1





Generates revenue of $1.9 billion, up 29.7% year-over-year, including organic growth of 9.1%
Posts net income of $76.0 million
Delivers GAAP EPS of $1.11, Adjusted EPS of $0.94
Initiates share repurchase program
Raises guidance for full year GAAP EPS and adjusted EPS


NEW YORK, NY - March 8, 2022 - ABM (NYSE: ABM), a leading provider of facility solutions, today announced financial results for the first quarter of fiscal 2022.


Scott Salmirs, ABM’s President and Chief Executive Officer commented, “ABM is off to a great start in 2022 as demonstrated by our solid first quarter results. I am particularly pleased with our organic revenue growth of 9.1%, which reflects improved demand across almost all of our Industry Groups driven by the emerging pandemic recovery and secular trends such as healthy buildings, sustainability and energy efficiency. We have strong service offerings that closely link to these trends and we are having success winning new business.”


“Revenue growth was driven by Able, as well as by strong demand for our core janitorial and engineering services and a continued recovery in the Aviation industry. Disinfection-related work orders and EnhancedClean™ were higher than anticipated, but still significantly lower than last year as expected. The combination of higher revenue and continued labor productivity led to first quarter performance above our expectations.”


Mr. Salmirs continued, “Given this first quarter performance and our favorable outlook for the remainder of the year, we are raising our full fiscal year guidance for EPS. This guidance assumes that office occupancy rates will gradually improve as we move through the year and that labor markets will remain challenging, but manageable.”


“Our team is excited about ABM’s prospects in 2022 and beyond. We remain focused on continuing to integrate Able onto our common platforms and executing on our ELEVATE strategic initiative at the highest level to strengthen ABM’s leadership position.”


First Quarter Financial and Business Results


For the first quarter of fiscal 2022, the Company reported revenue of $1.9 billion, up 29.7% over the prior year period, comprised of 9.1% organic growth and 20.6% from the Able acquisition. Organic revenue growth was led by a 42% year-over-year gain in Aviation, driven by a strong holiday travel season, and by a 26% gain in Technical Solutions due to continued growth in the Company's e-mobility business. Manufacturing & Distribution and Business & Industry both posted broad-based organic growth of 5%, with B&I’s total revenue growth of 49% also including a full quarter of Able revenue. Education organic revenue decreased 1%. As anticipated, the Company’s revenue mix reflected a decrease in disinfection-related work orders and EnhancedClean™ business versus the prior year period.


The following information was filed by Abm Industries Inc (ABM) on Tuesday, March 8, 2022 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.

View differences made from one quarter to another to evaluate Abm Industries Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Abm Industries Inc.


Assess how Abm Industries Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Abm Industries Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors


SEC Filing Tools


Learn More
Bullish Bearish Neutral
Filter Sentiment:
Filter Category:
M & A
Filter Subcategory:
Cash Flow
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)
Acquisitions And Dispositions
Acquisitions And Dispositions (Tables)
Acquisitions And Dispositions - Narrative (Details)
Acquisitions And Dispositions - Pro Forma Financial Information (Details)
Acquisitions And Dispositions - Purchase Price Allocation (Details)
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)
Common Stock
Common Stock (Tables)
Common Stock - Narrative (Details)
Common Stock - Schedule Of Repurchase Activity (Details)
Credit Facility
Credit Facility (Tables)
Credit Facility - Credit Facility Information (Details)
Credit Facility - Interest Rate Swaps (Details)
Credit Facility - Narrative (Details)
Credit Facility - Term Loan Maturities (Details)
Fair Vale Of Financial Instruments
Fair Vale Of Financial Instruments (Details)
Fair Vale Of Financial Instruments (Tables)
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)
The Company And Nature Of Operations
The Company And Nature Of Operations (Details)
Ticker: ABM
CIK: 771497
Form Type: 10-Q Quarterly Report
Accession Number: 0000771497-22-000004
Submitted to the SEC: Wed Mar 09 2022 2:09:44 PM EST
Accepted by the SEC: Wed Mar 09 2022
Period: Monday, January 31, 2022
Industry: To Dwellings And Other Buildings

External Resources:
Stock Quote
Social Media

Bookmark the Permalink: