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Abm Industries Inc (ABM) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, October 31, 2017

Abm Industries Inc

CIK: 771497 Ticker: ABM

 

Exhibit 99.1

 

 

ABM INDUSTRIES ANNOUNCES
FOURTH QUARTER AND FULL YEAR 2017 FINANCIAL RESULTS
Record Full Year Revenues of $5.5 billion
Full Year GAAP Continuing EPS of $1.34; Adjusted Continuing EPS of $1.75
Fiscal 2017 Results Reflect Acquisition-Related Share Count Dilution and Higher Amortization Expenses
Fiscal 2018 Guidance Outlook Issued
Company Increases Dividend By 3.0%

 

 

NEW YORK, NY - December 13, 2017 - ABM (NYSE: ABM), a leading provider of facility solutions, today announced financial results for the fourth quarter and full year that ended October 31, 2017.

 

($ in millions, except per share amounts)  Three Months Ended October 31,   Increase/  

Years Ended

October 31,

   Increase/ 
(unaudited)  2017   2016  (Decrease)   2017   2016   (Decrease) 
                         
Revenues  $1,497.9   $1,322.3    13.3%  $5,453.6   $5,144.7    6.0%
                               
Operating profit  $4.4   $10.8    (58.8)%  $101.9   $54.7    86.1%
                               
(Loss) Income from continuing operations  $(2.5)  $9.0    NM*  $78.1   $62.3    25.3%
(Loss) Income from continuing operations per diluted share  $(0.04)  $0.16    NM*  $1.34   $1.09    22.9%
                               
Adjusted income from continuing operations  $23.5   $29.2    (19.7)%  $101.9   $99.2    2.8%
Adjusted Income from continuing operations per diluted share  $0.37   $0.51    (27.5)%  $1.75   $1.74    0.6%
                               
Net (loss) income  $(3.6)  $7.8    NM*  $3.8   $57.2    (93.3)%
Net (loss) income per diluted share  $(0.06)  $0.14    NM*  $0.07   $1.01    (93.1)%
                               
Net cash provided by operating activities of continuing operations  $19.1   $9.8    94.9%  $101.7   $110.5    (8.0)%
                               
Adjusted EBITDA  $70.8   $61.5    15.1%  $236.7   $212.2    11.5%
Adjusted EBITDA margin   4.7%   4.6%   10 bps    4.3%   4.1%   20 bps 

 

* Not meaningful (due to variance greater than or equal to +/-100%)

 

This release refers to certain non-GAAP financial measures described as “Adjusted EBITDA” defined as earnings before income from discontinued operations, net of taxes, interest, taxes, depreciation and amortization and excluding items impacting comparability, "Adjusted EBITDA margin", “Adjusted income from continuing operations,” and “Adjusted income from continuing operations per diluted share”. These adjustments have been made with the intent of providing financial measures that give management and investors a more representative understanding of underlying operational results and trends as well as the Company’s operational performance. Management also uses Adjusted EBITDA as a basis for planning and forecasting future periods. Please refer to the accompanying financial schedules for supplemental financial data and corresponding reconciliation of these non-GAAP financial measures to certain GAAP financial measures. We round amounts in these schedules to millions and calculate all percentages and per-share data from the underlying whole-dollar amounts. As a result, certain amounts may not foot, crossfoot, or recalculate based on reported numbers due to rounding. Unless otherwise noted, all references to years are to our fiscal year, which ends on October 31.

 


The following information was filed by Abm Industries Inc (ABM) on Wednesday, December 13, 2017 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii-valuation And Qualifying Accounts
Schedule Ii-valuation And Qualifying Accounts (detail)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Stockholders' Equity
Acquisitions
Acquisitions (tables)
Acquisitions - Gca Consideration Transferred (details)
Acquisitions - Gca Preliminary Purchase Price Allocation (details)
Acquisitions - Gca Pro Forma Financial Information (details)
Acquisitions - Other Acquisitions Narrative (details)
Auction Rate Securities
Auction Rate Securities (tables)
Auction Rate Securities - Narrative (details)
Auction Rate Securities - Significant Assumptions Used To Determine Fair Value Of Auction Rate Securities (details)
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (policies)
Basis Of Presentation And Significant Accounting Policies (tables)
Basis Of Presentation And Significant Accounting Policies - Estimated Useful Lives Of Property, Plant And Equipment (details)
Basis Of Presentation And Significant Accounting Policies - Government Services (details)
Basis Of Presentation And Significant Accounting Policies - Management Reimbursement Revenue (details)
Basis Of Presentation And Significant Accounting Policies - Narrative (details)
Basis Of Presentation And Significant Accounting Policies - Prior Year Reclassifications (details)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Lease And Other Similar Commitments (details)
Commitments And Contingencies - Narrative (details)
Commitments And Contingencies - Rental And Other Expense (details)
Credit Facility
Credit Facility (tables)
Credit Facility - Credit Facility Information (details)
Credit Facility - Facility Information (details)
Credit Facility - Interest Rate Swaps (details)
Credit Facility - Narrative (details)
Credit Facility - Term Loan Maturities (details)
Discontinued Operations
Discontinued Operations - Narrative (details)
Employee Benefit Plans
Employee Benefit Plans (tables)
Employee Benefit Plans - Deferred Compensation Plans (details)
Employee Benefit Plans - Defined Benefit Plans (details)
Employee Benefit Plans - Defined Contribution Plans (details)
Employee Benefit Plans - Multiemployer Defined Benefit Pension Plans (details)
Employee Benefit Plans - Multiemployer Plans Additional Information (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 A Recurring Basis (details)
Fair Value Of Financial Instruments - Non-financial Assets Measured At Fair Value On Non-recurring Basis (details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Changes In Carrying Amounts Of Goodwill By Segment (details)
Goodwill And Other Intangible Assets - Estimated Annual Amortization Expense (details)
Goodwill And Other Intangible Assets - Other Intangible Assets (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Changes To Deferred Tax Asset Valuation Allowance (details)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (details)
Income Taxes - Components Of Income From Continuing Operations Before Income Taxes And Provision For Income Taxes (details)
Income Taxes - Narrative (details)
Income Taxes - Reconciliation Of Total Unrecognized Tax Benefits (details)
Income Taxes - Reconciliation Of U.s. Statutory Tax Rate To Effective Income Tax Rate (details)
Insurance
Insurance (tables)
Insurance - Causalty Program Insurance Reserves Rollforward (details)
Insurance - Instruments Used To Collateralize Insurance Obligations (details)
Insurance - Insurance Related Balances And Activity (details)
Insurance - Narrative (details)
Net Income Per Common Share
Net Income Per Common Share (tables)
Net Income Per Common Share - Anti-dilutive Outstanding Stock Awards Issued Under Share-based Compensation Plans (details)
Net Income Per Common Share - Basic And Diluted Net Income Per Common Share Calculations (details)
Preferred And Common Stock
Preferred And Common Stock (tables)
Preferred And Common Stock - Narrative (details)
Preferred And Common Stock - Repurchase Activity (details)
Property, Plant And Equipment
Property, Plant And Equipment (tables)
Property, Plant And Equipment - Capital Leases Included In Property, Plant And Equipment (details)
Property, Plant And Equipment - Schedule Of Property, Plant And Equipment (details)
Restructuring And Related Costs
Restructuring And Related Costs (tables)
Restructuring And Related Costs - Restructuring And Related Liabilities (details)
Segment And Geographic Information
Segment And Geographic Information (tables)
Segment And Geographic Information - Financial Information By Reportable Segment (details)
Segment And Geographic Information - Revenues By Geographic Region (details)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (tables)
Selected Quarterly Financial Data (unaudited) - Financial Information (details)
Selected Quarterly Financial Data (unaudited) - Footnote Disclosure (details)
Share-based Compensation Plans
Share-based Compensation Plans (tables)
Share-based Compensation Plans - Compensation Expense By Type Of Award And Related Income Tax Benefit (details)
Share-based Compensation Plans - Employee Stock Purchase Plan (details)
Share-based Compensation Plans - Monte Carlo Assumptions (details)
Share-based Compensation Plans - Narrative (details)
Share-based Compensation Plans - Performance Share Activity (details)
Share-based Compensation Plans - Performance Share Narrative (details)
Share-based Compensation Plans - Rsu Activity (details)
Share-based Compensation Plans - Rsu Narrative (details)
Share-based Compensation Plans - Stock Option Activity (details)
Share-based Compensation Plans - Stock Option Narrative (details)
Subsequent Events
Subsequent Events - Narrative (details)
The Company And Nature Of Operations
The Company And Nature Of Operations - Narrative (details)
Ticker: ABM
CIK: 771497
Form Type: 10-K Annual Report
Accession Number: 0001628280-17-012508
Submitted to the SEC: Fri Dec 22 2017 11:24:17 AM EST
Accepted by the SEC: Fri Dec 22 2017
Period: Tuesday, October 31, 2017
Industry: To Dwellings And Other Buildings

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