ABM Industries (ABM) Tops Q1 EPS by 10c, Offers Guidance

ABM Industries (NYSE: ABM) reported Q1 EPS of $0.39, $0.10 better than the analyst estimate of $0.29. Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.6 billion.

GUIDANCE:

ABM Industries sees FY2020 EPS of $1.90-$2.10, versus the consensus of $1.99.

The Company continues to expect GAAP income from continuing operations of $1.65 to $1.85 per diluted share, and adjusted income from continuing operations of $1.90 to $2.10 per diluted share. The guidance outlook reflects the Company's ongoing management of lower margin contracts, in addition to planned investments in IT and Human Resources. The guidance does not assume any potential accretion related to repurchases pursuant to the Company's share repurchase program.

With the exception of the 2020 Work Opportunity Tax Credits and anticipated excess tax benefits on stock-based awards, the guidance does not include any potential effects associated with certain other discrete tax items and other unrecognized tax benefits.

On November 1, 2019, the Company adopted the Financial Accounting Standards Board’s new lease accounting guidance ASU 2016-02 (“Topic 842”) on a modified retrospective basis using the optional transition method permitted under ASU 2018-11. The Company does not anticipate any material impact to income from continuing operations at this time.

Mr. Salmirs concluded, “The resilience of our scale and diversified portfolio should position us favorably as we monitor and navigate macroeconomic conditions throughout the remainder of the year. We will continue to reinvest in our business throughout 2020 to further strengthen our competitive positioning for the future.”

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

You May Also Be Interested In

• Tesla touts acceleration of new models, but Q1 results fall short of estimates
• Costar Group (CSGP) Tops Q1 EPS by 3c, Offers Guidance
• Weatherford International plc (WFRD) Tops Q1 EPS by 6c