ABM Ups EV Game; Launches First-Ever Branded Integrated Charging Solution - ABM Indus (NYSE:ABM)

ABM Industries Inc (NYSE:ABM) disclosed the launch of its first-ever branded integrated electric vehicle (EV) charging solution.

The products, made in collaboration with Noodoe, include ABM EV Charging Stations (Level 2 and Level 3) and ABM EV OS, a cloud-based operating platform for EV chargers.

The products boost ABM's capability to offer comprehensive single-source solutions for custom, scalable EV infrastructure installations.

The company expects the ABM EV OS to enhance the customers' experiences who rely on its charging infrastructure services.

"Our introduction of branded hardware and our investment in software marks an exciting next step placing us at the forefront of the dynamic EV infrastructure industry, by enabling us to offer our clients a single source for rapidly growing needs in this sector," said Scott Salmirs, President and CEO.

The new launch is in tandem with the company's plan to create a first-of-its-kind EV ecosystem hub, the ABM Electrification Center.

This month, ABM reported Q2 FY23 revenue growth of 4.5% Y/Y to $1.98 billion, missing the consensus of $2 billion and adjusted EPS of $0.90, beating the consensus of $0.86.

Also Read: Looking Into ABM Indus's Return On Capital Employed

Price Action: ABM shares are trading lower by 0.09% at $46.34 on the last check Monday.

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