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Jan 31, 2024
ABM Q1 2024 Earnings Report
ABM reported first quarter fiscal 2024 results with revenue up 3.9% and raised outlook for fiscal year 2024 adjusted EPS.
Key Takeaways
ABM had a strong start to fiscal year 2024, with a 3.9% increase in revenue to $2.1 billion, driven by organic growth. Net income rose to $44.7 million, or $0.70 per diluted share, marking a 16% and 21% increase, respectively. The company has raised its outlook for the full year adjusted EPS to a range of $3.30 to $3.45.
Revenue increased by 3.9% to $2.1 billion, entirely through organic growth.
Net income reached $44.7 million, with GAAP EPS at $0.70, reflecting increases of 16% and 21%, respectively, including discrete tax benefits of $4.4 million, or $0.07 per share.
Adjusted EPS increased by 9% to $0.86.
The outlook for fiscal year 2024 adjusted EPS has been raised to $3.30 to $3.45.
Revenue by Segment
Forward Guidance
ABM is raising its outlook for fiscal year 2024 adjusted EPS to be in the range of $3.30 to $3.45.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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