ABM Q2 Profit Down, Meets Market, Revenues Top Street; Confirms FY25 Outlook - Update

(RTTNews) - Facility management company ABM Industries, Inc. (ABM) on Friday maintained its fiscal 2025 earnings forecast after reporting weak second-quarter profit, despite growth in revenues.

Further, the company's Board of Directors declared a cash dividend of $0.265 per share, payable on August 4, to shareholders of record on July 3.

Scott Salmirs, President & Chief Executive Officer, said, "Looking ahead to the second half of 2025, We remain constructive on the outlook for our core markets, particularly high-quality office buildings, manufacturing and distribution facilities, commercial aviation, and microgrids. Further, projects delayed in the second quarter are expected to be realized in the third quarter."

For fiscal 2025, the company continues to project adjusted earnings in a range of $3.65 to $3.80 per share.

The Wall Street analysts on average expected the company to report earnings of $3.77 per share. Analysts' estimates typically exclude special items.

The projected full year adjusted EBITDA margin also remains unchanged at 6.3% to 6.5%.

In the second quarter, ABM's earnings came in at $42.2 million or $0.67 per share, compared with $43.8 million, or $0.69 per share, last year.

Adjusted earnings were $54.1 million or $0.86 per share for the period, versus $52.3 million or $0.82 in the prior year.

The company's revenue for the period rose 4.6% to $2.111 billion from $2.018 billion last year.

The Street was looking for earnings of $0.86 per share on revenues of $2.06 billion for the quarter.

In the pre-market activity on the NYSE, ABM shares were gaining around 0.06 percent to trade at $51.26.

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