ABM reports third quarter fiscal 2024 results and raises fiscal 2024 adjusted earnings per share guidance

• Sales increase 3.3% To 2.1 billion US dollarsincluding organic growth of 2.8%
• Net income of 4.7 million US dollars and GAAP EPS of 0.07 USDeach downwards 95%largely due to the increased likelihood of a cash earn-out payment under the Ravenvolt acquisition agreement
• Adjusted net profit of 59.5 million US dollars and adjusted earnings per share of 0,94 €high 13% And 19%respectively
• Adjusted EBITDA of 128.1 million US dollarshigh 2%
• Increases fiscal 2024 guidance. Adjusted earnings per share to $3.48-$3.55 from $3.40-$3.50. ⁽¹⁾

NEW YORK, Sept. 6, 2024 (GLOBE NEWSWIRE) — ABM (NYSE: ABM), a leading provider of facility solutions, today announced financial results for its third quarter of fiscal 2024.

“ABM’s strong third quarter performance is further evidence that our strategy is working. Our investments in energy resilience markets, particularly microgrids, which grew significantly, as well as our investments in technology, including tools to improve labor efficiency and our go-to-market approach, helped us deliver another quarter of solid enterprise-level organic growth and stable margins,” said Scott Salmirs, President & Chief Executive Officer. “This performance was supported by our focus on market segmentation, particularly our targeted weighting of higher-performing Class A properties, which enabled us to again deliver strong results in our commercial and industrial segment despite what remains a turbulent commercial real estate environment.”