ABM Q4 2020 Earnings Report
Key Takeaways
ABM Industries announced financial results for the fourth quarter and full year that ended October 31, 2020. The company achieved revenues of $1.5 billion for the quarter. GAAP income from continuing operations was $53.1 million, or $0.78 per diluted share. Adjusted income from continuing operations was $46.7 million, or $0.69 per diluted share.
Fourth quarter revenue improved sequentially compared to the third quarter.
Pandemic-related work orders and labor management continued to drive solid profit growth.
Adjusted EBITDA margin accelerated to the longer term target range and record cash flow was generated.
The strength of market positioning, as well as liquidity, has enabled the company to navigate the risks and opportunities of the pandemic confidently.
ABM
ABM
Forward Guidance
For the first quarter of fiscal 2021, the Company expects GAAP income from continuing operations of $0.53 to $0.58 per diluted share, and adjusted income from continuing operations of $0.60 to $0.65 per diluted share.