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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 $460 million for the same period last year, underscoring our commitment to a strong sales culture."
|(in millions, except per share amounts)||Three
|Income from continuing operations||$||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||$||0.73||6.8%|
|Net income per diluted share||$||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 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.
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