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Jul 31, 2020
ABM Q3 2020 Earnings Report
ABM Industries reported strong operational and financial execution through COVID-19, with GAAP continuing EPS growth and solid cash flow.
Key Takeaways
ABM Industries reported revenues of approximately $1.4 billion, a decrease of 15.4% compared to the third quarter of fiscal 2019. The company reported income from continuing operations of $56.0 million, or $0.83 per diluted share, and adjusted income from continuing operations of $50.1 million, or $0.75 per diluted share. Adjusted EBITDA for the quarter was $109.7 million, with an adjusted EBITDA margin of 7.9%.
Revenues decreased by 15.4% due to COVID-19 related client disruptions.
GAAP income from continuing operations was $56.0 million, or $0.83 per diluted share.
Adjusted income from continuing operations was $50.1 million, or $0.75 per diluted share.
Adjusted EBITDA was $109.7 million, with an adjusted EBITDA margin of 7.9%.
Forward Guidance
Due to the extraordinary and evolving nature of the COVID-19 pandemic, it remains difficult for the Company to predict an accurate fiscal 2020 guidance outlook range. Despite this unpredictable period, the company is committed to driving the momentum experienced during the third quarter, while managing the financial and operational elements within its control.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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