ABM Industries Q4 Earnings Surpass Street View

ABM Industries, Inc. ABM reported fourth-quarter revenue growth of 14.2% year-over-year to $1.69 billion, comprised of 7.4% organic growth and 6.8% from acquisition, beating the consensus of $1.64 billion.

  • Sales by segments: Business & Industry $933.2 million (+17.5% Y/Y), Technology & Manufacturing $245.5 million (+0.1% Y/Y), Education $204.4 million (-3.7% Y/Y), Aviation $201.7 million (+43% Y/Y), and Technical Solutions $149 million (+21% Y/Y).
  • Adjusted Continuing EPS improved to $0.85 from $0.69 in 4Q20, beating the consensus of $0.80.
  • The operating profit decreased by 23.7% Y/Y to $55.7 million, and the margin contracted by 163 bps to 3.3%.
  • Adjusted EBITDA increased by 20.2% to $111.2 million, and margin expanded by 33 bps to 6.6%.
  • ABM Industries generated cash from operating activities for the year of $314.3 million, compared to $457.5 million a year ago. Free cash flow of $280.1 million.
  • The company had total available liquidity of ~$938 million, including cash and cash equivalents of $62.8 million, and total debt of $1.06 billion as of October 31, 2021.
  • ABM Industries increased its quarterly dividend by 2.6% to $0.195 per share, payable on February 7, 2022, to stockholders of record on January 6, 2022.
  • FY22 Outlook: ABM expects GAAP EPS of $2.05 - $2.30 and adjusted EPS from continuing operations of $3.30 - $3.55 versus the consensus of $3.47.
  • It expects the adjusted EBITDA margin of 6.2%-6.6%, inclusive of synergies from the Able Services acquisition.
  • Price Action: ABM shares closed higher by 0.39% at $45.94 on Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceDividendsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!