ABM Industries (NYSE: ABM) reported Q4 EPS of $0.66, $0.04 better than the analyst estimate of $0.62. Revenue for the quarter came in at $1.65 billion versus the consensus estimate of $1.67 billion.

GUIDANCE:

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

• For fiscal 2020, the Company expects 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. This guidance outlook reflects the Company's on-going management of lower margin contracts, in addition to planned investments in IT and Human Resources. This 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, this 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 continued, “Our strategy for fiscal 2020 will be dedicated to investing in people, reinforcing processes and enhancing systems as we continue to strengthen our foundation to become the clear choice in the industries we serve. We intend to leverage our scale and resilient business model to achieve our goals for the year, which includes the continued generation of solid free cash flow. I am excited about our long-term potential."

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