ABM Industries (ABM) Tops Q4 EPS by 1c, FY23 EPS Guidance Misses Consensus

ABM Industries (NYSE: ABM) reported Q4 EPS of $0.89, $0.01 better than the analyst estimate of $0.88. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.96 billion.

GUIDANCE:

ABM Industries sees FY2023 EPS of $3.40-$3.60, versus the consensus of $3.70.

• For fiscal 2023, ABM expects GAAP earnings per diluted share of $2.43 to $2.63, and adjusted EPS of $3.40 to $3.60. Adjusted EBITDA margin is anticipated to be in the range of 6.4% to 6.8%, consistent with recent performance. Interest expense is expected to be in the range of $71 million to $74 million for fiscal 2023, an increase of more than $30 million from fiscal 2022, at the mid-point of the forecast.
• Mr. Salmirs concluded, “As we enter 2023, we will continue to face labor-related pressures in the near-term, however, our strategy remains clear. We expect to leverage our unmatched scale and breadth of services, while enhancing our growth and profitability, through ELEVATE investments in technology, people and complementary acquisitions. Our core janitorial and engineering solutions generate consistent earnings and cash flows which can be reinvested into adjacent growth opportunities, while also providing us the opportunity to return cash to shareholders through a growing dividend and share repurchases. We are confident that this strategy will deliver greater growth and sustainably higher margins, driving enhanced shareholder returns over the long-term.”

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

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