ABM reports Q2 adjusted EPS 87c, consensus 79c

Reports Q2 revenue $2.0B, consensus $2.0B. “We are pleased with our second quarter results, which were driven by our team’s outstanding execution and highlighted by strong cash flow, as well as mid-single digit organic revenue growth in our Aviation, Technical Solutions, Manufacturing & Distribution and Education segments. Additionally, our Business & Industry segment again displayed its resiliency, benefiting from a diverse client and service mix, including a focus on higher performing Class A properties” said CEO Scott Salmirs. “We also continued to win new business across the portfolio and progressed on our ELEVATE strategic initiatives, further setting us up for a solid second half of the year. Our results are a strong validation of our strategy and of the effectiveness of our advantaged cash-generative business model. ABM‘s service breadth, people, and customer focus, as well as the investments we have made in technology, have enabled us to perform well in challenging market conditions. Going forward, we expect to further leverage our investments and strong free cash flow to self-fund growth and pursue margin expansion opportunities, while at the same time consistently returning capital and building long-term stockholder value.”