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Jan 18,2018

ABM to Ring the Opening Bell at the New York Stock Exchange to Celebrate the Company's 2018 Investor Day; Provides Estimate of New Tax Reform Impact

Updates Time of the Live Webcast of its Investor Day 

NEW YORK, Jan. 18, 2018 (GLOBE NEWSWIRE) -- ABM (NYSE:ABM), a leading provider of facility solutions, today announced that it will ring The Opening Bell® at the New York Stock Exchange (NYSE) at 9:30 a.m. ET today in celebration of its 2018 Investor Day.  Accordingly, the live webcast of the Company's Investor Day will now begin at 9:45 a.m. ET on Thursday, January 18, 2018.  

The event will feature formal presentations by members of ABM's Executive Team, who will discuss the Company's business fundamentals, strategy, and financials.  As part of the Investor Day, the Company is providing an estimate of the impact of the 2017 Tax Reform Act. 

At this time, the Company anticipates the impact on fiscal 2018 GAAP income from continuing operations per diluted share will be approximately $0.40 to $0.50, which includes one-time related items.  On an adjusted basis, the impact on fiscal 2018 income from continuing operations per diluted share will be approximately $0.28

The Company expects to provide additional information relating to the impact of the 2017 Tax Reform Act on its fiscal 2018 guidance outlook in conjunction with its first quarter earnings release in March 2018

A live audio webcast of the Investor Day will be available to the public through the "Investors" section of the Company's website, located at www.abm.com.  

An archived replay of the webcast, including the presentation, will be available shortly after the live event is completed. 

ABOUT ABM 

ABM (NYSE:ABM) is a leading provider of facility solutions with revenues of approximately $5.5 billion and more than 130,000 employees in 350+ offices throughout the United States and various international locations. ABM's comprehensive capabilities include janitorial, electrical & lighting, energy solutions, facilities engineering, HVAC & mechanical, landscape & turf, mission critical solutions and parking, provided through stand-alone or integrated solutions. ABM provides custom facility solutions in urban, suburban and rural areas to properties of all sizes - from schools and commercial buildings to hospitals, data centers, manufacturing plants and airports. ABM Industries Incorporated, which operates through its subsidiaries, was founded in 1909. For more information, visit www.abm.com

Cautionary Statement under the Private Securities Litigation Reform Act of 1995 

This press release contains forward-looking statements about ABM Industries Incorporated ("ABM") and its subsidiaries. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and assumptions that are difficult to predict. For us, particular uncertainties that could cause our actual results to be materially different from those expressed in our forward-looking statements include our expectations relating to the impacts of the 2017 Tax Reform Act. A description of  other risks and uncertainties we face is contained in our Annual Report on Form 10-K for the year ended October 31, 2017 and in other reports we file from time to time with the Securities and Exchange Commission (including all amendments to those reports). We urge readers to consider these risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. 

Use of Non-GAAP Financial Information 

To supplement ABM's consolidated financial information, the Company has presented continuing earnings per diluted share on an adjusted basis as management uses such measure as a basis for planning and forecasting future periods. The presentation of this non-GAAP financial measure is not meant to be considered in isolation or as a substitute for financial statements prepared in accordance with accounting principles generally accepted in the United States of America. (See accompanying tables for supplemental financial data and reconciliations to certain GAAP financial measures.) 

Contact: 
Investor & Media Relations: Susie Choi
 (212) 297-9721
 susie.choi@abm.com 

  

ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES       
2018 GUIDANCE (Excluding 2017 Tax Reform Act impact)     
      
  Year Ending October 31, 2018 
Reconciliation of Estimated Income from Continuing Operations per Diluted Share to Estimated Adjusted Income from Continuing Operations per Diluted Share Low Estimate High Estimate 
      
       
Income from continuing operations per diluted share (a) $1.33  $1.43  
Adjustments (b)  0.37   0.37  
Adjusted Income from continuing operations per diluted share (a) $1.70  $1.80  
      
      
      
      
2018 GUIDANCE (Including 2017 Tax Reform Act impact)     
      
  Year Ending October 31, 2018 
Reconciliation of Estimated Income from Continuing Operations per Diluted Share to Estimated Adjusted Income from Continuing Operations per Diluted Share Low Estimate High Estimate 
      
      
Previously announced Income from continuing operations per diluted share (a) $1.33   $1.43  
Impact  from 2017 Tax Reform Act change in federal tax rate and one-time related items  0.40   0.50  
Revised  Income from continuing operations per diluted share  1.73   1.93  
Adjustments (b)  0.45   0.45  
Deduct impact from 2017 Tax Reform Act one-time items  (0.20)  (0.30) 
Adjusted Income from continuing operations per diluted share (a) $1.98   $2.08  
      
      
      
(a) With the exception of the 2018 Work Opportunity Tax Credits and ASU 2016-09, this guidance does not include any potential benefits associated with certain other discrete tax items and other unrecognized tax benefits. 
      
(b) Adjustments include costs associated with the Company's strategic review and realignment, acquisition-related integration and transaction costs, legal settlements, adjustments to self-insurance reserves pertaining to prior year's claims and other unique items impacting comparability. 

 

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Source: ABM Industries Incorporated

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