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Jul 31, 2023
ABM Q3 2023 Earnings Report
ABM reported revenue growth of 3.4% with solid adjusted margin and strong operating cash flow.
Key Takeaways
ABM announced financial results for the third quarter of fiscal 2023, reporting revenue of $2.0 billion, a 3.4% increase year-over-year. Net income increased to $98.1 million, or $1.47 per diluted share, compared to $56.8 million, or $0.85 per diluted share in the prior year. Adjusted EPS was $0.79, versus $0.94 in the prior year.
Grew revenue 3.4% to $2.0 billion, including 2.5% organic growth
Net income of $98.1 million and GAAP EPS of $1.47, compared to $56.8 million and $0.85 in the prior year, respectively
Adjusted EBITDA of $125.3 million, essentially flat with the prior year
Adjusted EPS of $0.79, versus $0.94 in the prior year
Revenue by Segment
Forward Guidance
The Company is narrowing the range of its forecast for full year 2023 adjusted EPS to $3.40 to $3.50, as compared to its prior forecast of $3.40 to $3.60. The Company’s expectations for adjusted EBITDA margin of 6.5% to 6.8%, and interest expense of approximately $80 million remain unchanged.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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