ABM Q2 2024 Earnings Report
Key Takeaways
ABM announced financial results for the second quarter of fiscal 2024, with revenue up 2% to $2.0 billion. Net income was $43.8 million, or $0.69 per diluted share. Adjusted EPS was $0.87. The company raised its outlook for fiscal year 2024 adjusted EPS to $3.40 to $3.50.
Revenue increased by 2% to $2.0 billion, all organic growth.
Net income was $43.8 million and GAAP EPS was $0.69, representing declines of 16% and 12%, respectively.
Adjusted EPS was $0.87, down 3%.
Operating cash flow was $117.0 million and free cash flow was $101.4 million, both up significantly.
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ABM Revenue by Segment
Forward Guidance
ABM is raising its outlook for fiscal year 2024 adjusted EPS. The Company now expects FY24 adjusted EPS to be in the range of $3.40 to $3.50, as compared to the prior range of $3.30 to $3.45.