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Oct 31, 2021
ABM Q4 2021 Earnings Report
ABM's Q4 2021 financial results were announced, showcasing revenue growth and strategic progress.
Key Takeaways
ABM reported a strong fourth quarter with revenues of $1.7 billion, a 14.2% increase compared to the prior year. The company's adjusted EPS was $0.85, up from $0.69 in the same quarter last year. The acquisition of Able Services contributed positively to the results.
Revenue increased by 14.2% to $1.7 billion, driven by organic growth and acquisitions.
Aviation and Technical Solutions segments led organic revenue growth with gains of 43% and 21%, respectively.
GAAP EPS was $0.50, while adjusted EPS reached $0.85.
The company's acquisition of Able Services contributed to revenue growth in the Business and Industry segment.
Forward Guidance
For fiscal year 2022, ABM expects GAAP earnings per diluted share of $2.05 to $2.30, and adjusted EPS from continuing operations of $3.30 to $3.55. Adjusted EBITDA margin is anticipated to be in the range of 6.2%-6.6%.
Positive Outlook
- GAAP earnings per diluted share expected to be $2.05 to $2.30.
- Adjusted EPS from continuing operations expected to be $3.30 to $3.55.
- Adjusted EBITDA margin anticipated to be in the range of 6.2%-6.6%.
- Guidance includes synergies from the Able Services acquisition.
- Company is embarking on Elevate, a transformational strategic initiative.
Challenges Ahead
- Guidance assumes an easing in COVID-19-related disinfection services and work orders.
- Elevate investment is expected to be $80 million in fiscal 2022.
- Elevate investments are expected to be largely completed by the end of fiscal 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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