ABM sees 2023 adjusted EPS $3.40-$3.50, consensus $3.52

For fiscal year 2023, the Company now expects GAAP EPS to be in the range of $3.52 to $3.62, compared to $2.52 to $2.72 previously. This revised forecast reflects changes in items impacting comparability, primarily from an adjustment to the fair value of contingent consideration related to the RavenVolt acquisition and from the receipt of an Employee Retention Credit. The Company is narrowing the range of its forecast for full year 2023 adjusted EPS to $3.40 to $3.50, as compared to its prior forecast of $3.40 to $3.60. The Company’s expectations for adjusted EBITDA margin of 6.5% to 6.8%, and interest expense of approximately $80 million remain unchanged.