ABM Industries (ABM) Misses Q4 EPS by 1c, Offers Q1 Guidance

ABM Industries (NYSE: ABM) reported Q4 EPS of $0.69, $0.01 worse than the analyst estimate of $0.70. Revenue for the quarter came in at $1.48 billion versus the consensus estimate of $1.43 billion.

GUIDANCE:

ABM Industries sees Q1 2021 EPS of $0.60-$0.65, versus the consensus of $0.47.

• Due to the extraordinary and evolving nature of the COVID-19 pandemic, it remains difficult for the Company to predict an accurate full year fiscal 2021 guidance outlook range. As such, the Company is providing a shorter-term outlook at this time. For the first quarter of fiscal 2021, the Company expects GAAP income from continuing operations of $0.53 to $0.58 per diluted share, and adjusted income from continuing operations of $0.60 to $0.65 per diluted share. This guidance outlook assumes COVID-19 will impact results for the first quarter of fiscal 2021 compared to the first quarter of fiscal 2020. Additionally, the Company expects its on-going operational and corporate investments will extend into fiscal 2021.
• With the exception of the 2020 Work Opportunity Tax Credits and anticipated excess tax benefits on stock-based awards, this guidance does not include any potential effects associated with certain other discrete tax items and other unrecognized tax benefits.
• Mr. Salmirs continued, “The COVID-19 pandemic continues to impact the operating environment and we anticipate conditions to remain uncertain in fiscal 2021. However, as our fiscal 2020 results demonstrated, our teams have proven their ability to respond to these unparalleled times and I am confident we will continue to be strong partners to our clients as they manage their future needs. In addition to navigating the evolving impacts of the pandemic, our approach to fiscal 2021 will be dedicated to pursuing key enablers for our business. Among them, we intend to develop our digital roadmap and move ahead with our technological transformation as we position ourselves for long-term success."

For earnings history and earnings-related data on ABM Industries (ABM) click here.

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