Exhibit 99.1

 

 

 

ABM INDUSTRIES ANNOUNCES RESULTS FOR

 

SECOND QUARTER FISCAL 2019

 

Reports Record Second Quarter Revenues of $1.6 billion

 

GAAP Continuing EPS of $0.45; Adjusted Continuing EPS of $0.47

 

Narrows Fiscal 2019 Guidance Outlook

 

Declaration of 213th Consecutive Quarterly Dividend

 

New York, NY - June 5, 2019 - ABM (NYSE: ABM), a leading provider of facility solutions, today announced financial results for the second quarter of fiscal 2019.

 

Scott Salmirs, President and Chief Executive Officer of ABM Industries, commented, "Our organization continued to demonstrate solid performance as we executed against our plans for the second quarter. We also delivered record new sales bookings of $590 million through the first half of fiscal 2019 compared to $460 million for the same period last year, underscoring our commitment to a strong sales culture."

 

(in millions, except per share amounts)  Three Months Ended
April 30,
    Increase/   Six Months Ended
April 30,
    Increase/
(unaudited)  2019   2018   (Decrease)   2019   2018   (Decrease)
                        
Revenues  $1,594.7   $1,580.8    0.9%  $3,202.6   $3,169.2   1.1%
                             
Operating profit  $54.5   $45.3    20.4%  $84.8   $64.8   30.9%
                             
Income from continuing operations  $29.9   $25.4    17.9%  $42.9   $53.3   (19.5)%
Income from continuing operations per diluted share  $0.45   $0.38    18.4%  $0.64   $0.80   (20.0)%
                             
Adjusted income from continuing operations  $31.5   $31.2    1.1%  $52.3   $48.6   7.7%
Adjusted income from continuing operations per diluted share  $0.47   $0.47    %  $0.78   $0.73   6.8%
                             
Net income  $29.7   $26.6    11.7%  $42.7   $54.4   (21.6)%
Net income per diluted share  $0.45   $0.40    12.5%  $0.64   $0.82   (22.0)%
                             
Net cash provided by operating activities of continuing operations  $95.8   $98.4    (2.6)%  $56.5   $132.2   (57.3)%
                             
Adjusted EBITDA  $84.7   $83.0    2.0%  $153.5   $148.1   3.6%
Adjusted EBITDA margin   5.3%   5.3%   bps   4.8%   4.7%  10 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", defined as adjusted EBITDA divided by revenue, “Adjusted income from continuing operations,” "Adjusted income from continuing operations per diluted share”, and "organic revenue", defined as revenue adjusted for the impact of acquisitions and divestitures, as well as the impact of the adoption of ASC 853 and ASC 606. 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, June 5, 2019 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.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account