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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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10-K Annual Report December 2017
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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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