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Jul 31, 2022
ABM Q3 2022 Earnings Report
ABM delivered solid Q3 2022 results with double-digit growth in revenue and adjusted EBITDA, driven by recent acquisitions, demand for core services, and eMobility growth.
Key Takeaways
ABM reported a strong third quarter with revenue of $2.0 billion, a 27.1% increase year-over-year. Organic revenue growth was 7.4%, with significant contributions from Aviation and Technical Solutions. Adjusted EPS increased to $0.94, and adjusted EBITDA grew by 11% to $125.5 million.
Revenue increased by 27.1% year-over-year to $2.0 billion, including 7.4% organic growth.
Adjusted EPS rose to $0.94, a 4% increase from the prior year.
Adjusted EBITDA grew by 11% to $125.5 million, with a margin of 6.6%.
The company updated its full-year adjusted EPS guidance to $3.60 to $3.70 and adjusted EBITDA margin to around 6.6%.
ABM
ABM
ABM Revenue by Segment
Revenue by Segment
Business & Industry Revenue
CapyFin.comManufacturing & Distribution Revenue
CapyFin.comAviation Revenue
CapyFin.comEducation Revenue
CapyFin.comTechnical Solutions Revenue
CapyFin.com Forward Guidance
ABM expects a solid finish to 2022 and has narrowed its range for adjusted EPS and adjusted EBITDA margin.
Positive Outlook
- Adjusted EPS is expected to be in the range of $3.60 to $3.70.
- Adjusted EBITDA margin is expected to be around 6.6%.
- Demand environment is expected to remain constructive.
- RavenVolt acquisition is expected to drive strong demand for energy solutions.
- Focus remains on managing ongoing inflationary costs.
Challenges Ahead
- Inflationary pressures are expected to continue into next year.
- Limited labor availability in certain markets.
- Expected easing of demand for disinfection-related work orders.
- Higher direct and indirect costs, primarily for labor.
- Change in service mix and cost increases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income