ABM Industries (ABM) Misses Q3 EPS by 2c; Approves $200M Common Buyback; Announces Strategic Initiative

“Unified Workforce” Software Platform to Be Structured as Standalone Business Called QMerit

September 2, 2015 4:34 PM EDT

Tracy Price to be CEO of New Company

NEW YORK--(BUSINESS WIRE)-- ABM (NYSE: ABM), a leading provider of facility solutions, announced that it intends to enter into a transaction to contribute its Unified Workforce software platform into a newly-formed company. Tracy K. Price, who has served as ABM executive vice president and president of ABM Facility Solutions Group, will be leaving ABM to serve as chief executive officer of the new business to be named QMerit.

Unified Workforce is work activity management middleware designed... More

ABM Announces Comprehensive Strategy and Transformation Initiative to Enhance Shareholder Value

September 2, 2015 4:33 PM EDT

Realigning Operations for More Efficient Delivery of Client Solutions
With Projected Annualized Operating Savings of Approximately $40-$50 Million and
Opportunity for Accelerated Profitable Growth

NEW YORK--(BUSINESS WIRE)-- ABM (NYSE: ABM), a leading provider of facility solutions, today announced that its Board of Directors has approved a comprehensive strategy and transformation initiative to drive long-term profitable growth and enhance shareholder value. The initiative will focus ABM on its core strengths and most profitable businesses, and align its business operations to deliver unique... More

ABM Industries Announces 2015 Third Quarter Financial Results

September 2, 2015 4:32 PM EDT

Revenues Increase 5.7% to $1.35 billion

Net income down as Company Records $46.5 million Pre-tax Charge for Current-Year and Prior-Year Insurance Reserves

Company Narrows Fiscal 2015 Adjusted EPS Guidance to $1.75 - $1.80

Separately, Announces Strategy and Transformation Initiative

Board Declares Quarterly Dividend

NEW YORK--(BUSINESS WIRE)-- ABM (NYSE: ABM), a leading provider of facility solutions, today announced financial results for the fiscal 2015 third quarter that ended July 31, 2015.

    Three Months Ended July 31,   Increase/(Decrease)   Nine Months Ended July 31,   Increase/(Decrease) ($ in millions, except per share amounts)(unaudited)   2015   2014   2015   2014                             Revenues   $ 1,348.8     $ 1,276.1     5.7 %   $ 3,908.3     $ 3,733.9     4.7 %                           Operating (loss) profit $ (7.3 )   $... More