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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.
ABM
ABM
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.
- Elevate investments will be reported as items impacting comparability.
- Company expects lower levels of Elevate investment in subsequent years.