ABM Industries (ABM) Tops Q3 EPS by 4c, Revenues Miss; Offers FY18 EPS Outlook Above Consensus

ABM Industries (NYSE: ABM) reported Q3 EPS of $0.57, $0.04 better than the analyst estimate of $0.53. Revenue for the quarter came in at $1.62 billion versus the consensus estimate of $1.65 billion.

• Reports Record Third Quarter Revenues of $1.6 billion
• GAAP Continuing EPS of $0.51; Adjusted Continuing EPS of $0.57
• Reaffirms Fiscal 2018 Guidance Outlook

Scott Salmirs, President and Chief Executive Officer of ABM Industries, commented, "We delivered results that demonstrate our ability to navigate the current labor environment. We executed against our initiatives and performed in line with our expectations for the third quarter."

Mr. Salmirs continued, "At this time, we continue to experience the impact from a tighter labor market and we do not expect to see a material change in this trend in the current macroeconomic environment. Our teams have been implementing mitigation plans, including intensified labor management and cost containment. Concurrently, we are executing on key process and IT initiatives that will enable us to run our business with more agility and efficiency over the long term."

GUIDANCE:

ABM Industries sees FY2018 EPS of $1.85-$1.95, versus the consensus of $1.84.

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

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