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Oct 31, 2023
ABM Q4 2023 Earnings Report
ABM reported a revenue increase of 4.1% and net income growth of 29% for Q4 2023.
Key Takeaways
ABM announced its Q4 and full year fiscal 2023 results, with a 4.1% increase in revenue to $2.1 billion and a 29% increase in net income to $62.8 million. The company's adjusted EPS rose by 13% to $1.01, and adjusted EBITDA increased by 10% to $144.2 million. For fiscal year 2023, revenue grew by 3.7% to $8.1 billion, and net income reached $251.3 million.
Revenue grew 4.1% to $2.1 billion, including 3.8% organic growth.
Net income was $62.8 million and GAAP EPS was $0.96, up 29% and 32%, respectively.
Adjusted EBITDA increased 10% to $144.2 million.
Adjusted EPS increased 13% to $1.01.
ABM
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ABM Revenue by Segment
Forward Guidance
For fiscal year 2024, ABM expects adjusted EPS of $3.20 to $3.40 and adjusted EBITDA margin to be in the range of 6.2% to 6.5%.