ABM Industries (ABM) Misses Q3 EPS by 4c, Removes Previous Guidance

ABM Industries (NYSE: ABM) reported Q3 EPS of $0.51, $0.04 worse than the analyst estimate of $0.55. Revenue for the quarter came in at $1.32 billion versus the consensus estimate of $1.33 billion.

The Company continues to quantify the full financial impact of its recently closed acquisition of GCA Services Group, which includes the continuation of the purchase accounting process and certain third-party valuations. As a result of the potential for these processes to have a material impact on future results, the Company is removing its previous guidance outlook.

D. Anthony Scaglione, Executive Vice President and Chief Financial Officer, concluded, "As we announced last week, we are thrilled to be expanding the ABM network with our acquisition of GCA Services Group and we welcome the valuable employees and clients of GCA. As expected, the next few months will involve a thorough and extensive integration process and the continuation of purchase accounting to quantify the full financial impact of our acquisition. Without the GCA transaction, our previous GAAP guidance would have been adjusted for the favorable impact related to expiring statutes of limitations for an uncertain tax position, partially offset by other Items Impacting Comparability. Our non-GAAP guidance range would have remained the same."

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

You May Also Be Interested In

• Rent the Runway (RENT) Reports Q2 Loss of $0.38/sh
• S&P 500 above 8,000 in 2026 now looks ambitious, Citi says
• Hooker Furniture (HOFT) Tops Q2 EPS by 16c, Misses on Revenue