Investor Relations
Dec 22, 2024 5:13 AM EST
Declares 185th Consecutive Quarterly Dividend
(in millions, |
Three Months Ended | Six Months Ended | ||||||||||||||||
except per share data) |
|
Increase |
|
Increase | ||||||||||||||
(unaudited) | 2012 | 2011 | (Decrease) | 2012 | 2011 | (Decrease) | ||||||||||||
Revenues | $ | 1,057.2 | $ | 1,060.1 | (0.3 | )% | $ | 2,131.0 | $ | 2,089.3 | 2.0 | % | ||||||
Income from continuing operations | $ | 11.7 | $ | 14.2 | (17.6 | )% | $ | 22.4 | $ | 22.6 | (0.9 | )% | ||||||
Income from continuing operations per diluted share | $ | 0.21 | $ | 0.26 | (19.2 | )% | $ | 0.41 | $ | 0.42 | (2.4 | )% | ||||||
Adjusted income from continuing operations | $ | 16.3 | $ | 15.0 | 8.7 | % | $ | 28.0 | $ | 26.7 | 4.9 | % | ||||||
Adjusted income from continuing operations per diluted share | $ | 0.30 | $ | 0.28 | 7.1 | % | $ | 0.51 | $ | 0.50 | 2.0 | % | ||||||
Net income | $ | 11.7 | $ | 14.2 | (17.6 | )% | $ | 22.3 | $ | 22.6 | (1.3 | )% | ||||||
Net income per diluted share | $ | 0.21 | $ | 0.26 | (19.2 | )% | $ | 0.41 | $ | 0.42 | (2.4 | )% | ||||||
Net cash provided by continuing operating activities | $ | 42.6 | $ | 31.3 | 36.1 | % | $ | 54.4 | $ | 31.5 | 72.7 | % | ||||||
Adjusted EBITDA | $ | 40.5 | $ | 42.0 | (3.6 | )% | $ | 76.4 | $ | 77.7 | (1.7 | )% | ||||||
(This release refers to non-GAAP financial measures described as "Adjusted EBITDA," "Adjusted Income from Continuing Operations," and "Adjusted Income from Continuing Operations per Diluted Share" (or "Adjusted EPS"). Refer to the accompanying financial tables for supplemental financial data and corresponding reconciliation of these non-GAAP financial measures to certain GAAP financial measures.) |
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Highlights of the Company's fiscal 2012 second quarter include:
Second Quarter Results and Recent Events
"Operating results were in line with our expectations with the exception
of government and government-related businesses. Adjusted income from
continuing operations was up 9% as we maintained our focus on cost
control measures and benefited from employment-based tax credits due to
our hiring practices," said ABM's president and chief executive officer
Operating profit for the fiscal 2012 second quarter was
Interest expense for the fiscal 2012 second quarter was
Slipsager concluded, "I am pleased with the additional business won
during the quarter as clients continue responding favorably to our
industry leading integrated facilities solutions. We have signed over
Six Months Results
The Company reported revenues for the six months ended
Adjusted income from continuing operations for the first half of fiscal
year 2012 was
Dividend
The Company also announced that the Board of Directors has declared a
third quarter cash dividend of
Guidance
ABM reaffirmed its guidance of fiscal year 2012 income from continuing
operations per diluted share of
Earnings Webcast
On
The webcast will be accessible at: http://investor.abm.com/eventdetail.cfm?eventid=114166
Listeners are asked to be online at least 15 minutes early to register, as well as to download and install any complimentary audio software that might be required. Following the call, the webcast will be available at this URL for a period of 90 days.
In addition to the webcast, a limited number of toll-free telephone lines will also be available for listeners who are among the first to call 877-664-7395 within 15 minutes before the event. Telephonic replays will be accessible during the period from two hours to seven days after the call by dialing 855-859-2056 and then entering ID #83324004.
Earnings Webcast Presentation
In connection with the webcast to discuss earnings (see above), a slide presentation related to earnings and operations will be available on the Company's website at www.abm.com and can be accessed through the Investor Relations section of ABM's website by clicking on the "Presentations" tab.
ABOUT ABM
ABM (NYSE:ABM) is a leading provider of integrated facility solutions.
Thousands of commercial, industrial, government and retail clients
outsource their non-core functions to ABM for consistent quality service
that meets their specialized facility needs. ABM's comprehensive
capabilities include expansive facility services, energy solutions,
commercial cleaning, maintenance and repair, HVAC, electrical,
landscaping, parking and security, provided through stand-alone or
integrated solutions. With more than
Cautionary Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements that set forth
management's anticipated results based on management's current plans and
assumptions. Any number of factors could cause the Company's actual
results to differ materially from those anticipated. These factors
include but are not limited to the following: (1) we may not be able to
achieve anticipated global growth due to various factors, including, but
not limited to, an inability to make strategic acquisitions or compete
internationally; our acquisition strategy may adversely impact our
results of operations as we may not be able to achieve anticipated
results from any given acquisition; and activities relating to
integrating an acquired business may divert management's focus on
operational matters; (2) we are subject to intense competition that can
constrain our ability to gain business, as well as our profitability;
(3) any increases in costs that we cannot pass on to clients could
affect our profitability; (4) we have high deductibles for certain
insurable risks and, therefore, are subject to volatility associated
with those risks; (5) we primarily provide our services pursuant to
agreements which are cancelable by either party upon 30 to 90 days'
notice; (6) our success depends on our ability to preserve our long-term
relationships with clients; (7) our international business exposes us to
additional risks, including risks related to compliance with both U.S.
and foreign laws; (8) we conduct some of our operations through
joint ventures and our ability to do business may be affected by the
failure of our joint venture partners to perform their obligations or
the improper conduct of employees, joint venture partners or agents; (9)
significant delays or reductions in appropriations for our government
contracts as well as changes in government and client priorities and
requirements (including cost-cutting, the potential deferral of awards,
reductions or terminations of expenditures in response to the priorities
of
Additional information regarding these and other risks and
uncertainties the Company faces is contained in the Company's Annual
Report on Form 10-K for the year ended
Use of Non-GAAP Financial Information
To supplement ABM's consolidated financial information, the Company has
presented income from continuing operations, as adjusted for items
impacting comparability, for the second quarter and six months of fiscal
years 2012 and 2011. The Company also presents guidance for fiscal year
2012, as adjusted. These adjustments have been made with the intent of
providing financial measures that give management and investors a better
understanding of the underlying operational results and trends as well
as ABM's marketplace performance. In addition, the Company has presented
earnings before interest, taxes, depreciation and amortization and
excluding discontinued operations and items impacting comparability
(adjusted EBITDA) for the second quarter and six months of fiscal years
2012 and 2011. Adjusted EBITDA is among the indicators management uses
as a basis for planning and forecasting future periods. The presentation
of these non-GAAP financial measures is not meant to be considered in
isolation or as a substitute for financial statements prepared in
accordance with generally accepted accounting principles in
ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES | |||||||||||
CONDENSED CONSOLIDATED INCOME STATEMENT INFORMATION (UNAUDITED) | |||||||||||
Three Months Ended |
Increase | ||||||||||
(In thousands, except per share data) | 2012 | 2011 | (Decrease) | ||||||||
Revenues | $ | 1,057,244 | $ | 1,060,083 | (0.3 | )% | |||||
Expenses | |||||||||||
Operating | 947,916 | 944,523 | 0.4 | % | |||||||
Selling, general and administrative | 85,164 | 83,395 | 2.1 | % | |||||||
Amortization of intangible assets | 5,301 | 5,666 | (6.4 | )% | |||||||
Total expenses | 1,038,381 | 1,033,584 | 0.5 | % | |||||||
Operating profit | 18,863 | 26,499 | (28.8 | )% | |||||||
Other-than-temporary impairment credit losses on auction rate security recognized in earnings |
(313 | ) | - | NM* | |||||||
Income from unconsolidated affiliates, net | 1,501 | 832 | NM* | ||||||||
Interest expense | (2,441 | ) | (4,317 | ) | (43.5 | )% | |||||
Income from continuing operations before income taxes |
17,610 | 23,014 | (23.5 | )% | |||||||
Provision for income taxes | (5,863 | ) | (8,814 | ) | (33.5 | )% | |||||
Income from continuing operations | 11,747 | 14,200 | (17.3 | )% | |||||||
Loss from discontinued operations, net of taxes | (35 | ) | (8 | ) | NM* | ||||||
Net Income | $ | 11,712 | $ | 14,192 | (17.5 | )% | |||||
Net Income Per Common Share - |
|||||||||||
Income from continuing operations | $ | 0.22 | $ | 0.27 | (18.5 | )% | |||||
Loss from discontinued operations, net of taxes | - | - | - | ||||||||
Net Income | $ | 0.22 | $ | 0.27 | (18.5 | )% | |||||
Net Income Per Common Share - Diluted | |||||||||||
Income from continuing operations | $ | 0.21 | $ | 0.26 | (19.2 | )% | |||||
Loss from discontinued operations, net of taxes | - | - | - | ||||||||
Net Income | $ | 0.21 | $ | 0.26 | (19.2 | )% | |||||
* Not Meaningful | |||||||||||
Weighted-average common and common equivalent shares outstanding |
|||||||||||
|
53,944 | 53,106 | |||||||||
Diluted | 54,963 | 54,159 | |||||||||
Dividends Declared Per Common Share | $ | 0.145 | $ | 0.140 | |||||||
ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES | |||||||||||
CONDENSED CONSOLIDATED INCOME STATEMENT INFORMATION (UNAUDITED) | |||||||||||
Six Months Ended |
Increase | ||||||||||
(In thousands, except per share data) | 2012 | 2011 | (Decrease) | ||||||||
Revenues | $ | 2,131,029 | $ | 2,089,252 | 2.0 | % | |||||
Expenses | |||||||||||
Operating | 1,914,336 | 1,868,828 | 2.4 | % | |||||||
Selling, general and administrative | 169,184 | 166,050 | 1.9 | % | |||||||
Amortization of intangible assets | 10,850 | 10,959 | (1.0 | )% | |||||||
Total expenses | 2,094,370 | 2,045,837 | 2.4 | % | |||||||
Operating profit | 36,659 | 43,415 | (15.6 | )% | |||||||
Other-than-temporary impairment credit losses on auction rate security recognized in earnings |
(313 | ) | - | NM* | |||||||
Income from unconsolidated affiliates, net | 4,633 | 1,619 | NM* | ||||||||
Interest expense | (5,275 | ) | (8,363 | ) | (36.9 | )% | |||||
Income from continuing operations before income taxes |
35,704 | 36,671 | (2.6 | )% | |||||||
Provision for income taxes | (13,317 | ) | (14,066 | ) | (5.3 | )% | |||||
Income from continuing operations | 22,387 | 22,605 | (1.0 | )% | |||||||
Loss from discontinued operations, net of taxes | (45 | ) | (24 | ) | NM* | ||||||
Net Income | $ | 22,342 | $ | 22,581 | (1.1 | )% | |||||
Net Income Per Common Share - |
|||||||||||
Income from continuing operations | $ | 0.42 | $ | 0.43 | (2.3 | )% | |||||
Loss from discontinued operations, net of taxes | - | - | - | ||||||||
Net Income | $ | 0.42 | $ | 0.43 | (2.3 | )% | |||||
Net Income Per Common Share - Diluted | |||||||||||
Income from continuing operations | $ | 0.41 | $ | 0.42 | (2.4 | )% | |||||
Loss from discontinued operations, net of taxes | - | - | - | ||||||||
Net Income | $ | 0.41 | $ | 0.42 | (2.4 | )% | |||||
* Not Meaningful | |||||||||||
Average Common And Common Equivalent Shares | |||||||||||
|
53,721 | 52,972 | |||||||||
Diluted | 54,728 | 54,026 | |||||||||
Dividends Declared Per Common Share | $ | 0.290 | $ | 0.280 | |||||||
ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES | ||||||||
SELECTED CONSOLIDATED CASH FLOW INFORMATION (UNAUDITED) | ||||||||
Three Months Ended |
||||||||
(In thousands) | 2012 | 2011 | ||||||
Net cash provided by continuing operating activities | 42,590 | 31,266 | ||||||
Net cash provided by discontinued operating activities | 941 | 614 | ||||||
Net cash provided by operating activities | $ | 43,531 | $ | 31,880 | ||||
Net cash (used in) provided by investing activities | $ | (3,838 | ) | $ | 262 | |||
Proceeds from exercises of stock options | ||||||||
(including income tax benefit) | 5,856 | 2,000 | ||||||
Dividends paid | (7,833 | ) | (7,436 | ) | ||||
Borrowings from line of credit | 192,000 | 131,000 | ||||||
Repayment of borrowings from line of credit | (219,000 | ) | (165,000 | ) | ||||
Changes in book cash overdrafts | (2,955 | ) | (781 | ) | ||||
Net cash used in financing activities | $ | (31,932 | ) | $ | (40,217 | ) | ||
Six Months Ended |
||||||||
(In thousands) | 2012 | 2011 | ||||||
Net cash provided by continuing operating activities | 54,379 | 31,524 | ||||||
Net cash provided by discontinued operating activities | 1,143 | 1,653 | ||||||
Net cash provided by operating activities | $ | 55,522 | $ | 33,177 | ||||
Purchase of businesses, net of cash acquired | - | (292,178 | ) | |||||
Other investing activities | (15,082 | ) | (5,547 | ) | ||||
Net cash used in investing activities | $ | (15,082 | ) | $ | (297,725 | ) | ||
Proceeds from exercises of stock options | ||||||||
(including income tax benefit) | 8,097 | 7,731 | ||||||
Dividends paid | (15,579 | ) | (14,834 | ) | ||||
Deferred financing costs paid | (14 | ) | (4,991 | ) | ||||
Borrowings from line of credit | 404,000 | 561,500 | ||||||
Repayment of borrowings from line of credit | (438,000 | ) | (306,000 | ) | ||||
Changes in book cash overdrafts | - | 4,986 | ||||||
Net cash (used in) provided by financing activities | $ | (41,496 | ) | $ | 248,392 | |||
ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES | ||||||
CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION (UNAUDITED) | ||||||
|
|
|||||
(In thousands) | 2012 | 2011 | ||||
Assets | ||||||
Cash and cash equivalents | $ | 25,411 | $ | 26,467 | ||
Trade accounts receivable, net | 564,055 | 552,098 | ||||
Prepaid income taxes | 3,337 | 7,205 | ||||
Current assets of discontinued operations | 893 | 1,992 | ||||
Prepaid expenses | 49,178 | 41,823 | ||||
Notes receivable and other | 51,740 | 52,756 | ||||
Deferred income taxes, net | 41,544 | 40,565 | ||||
Insurance recoverables | 10,851 | 10,851 | ||||
Total current assets | 747,009 | 733,757 | ||||
Insurance deposits | 31,720 | 35,974 | ||||
Other investments and long-term receivables | 5,332 | 5,798 | ||||
Deferred income taxes, net | 30,117 | 30,948 | ||||
Insurance recoverables | 59,844 | 59,759 | ||||
Other assets | 40,926 | 43,394 | ||||
Investments in auction rate securities | 17,994 | 15,670 | ||||
Investments in unconsolidated affiliates, net | 14,567 | 14,423 | ||||
Property, plant and equipment, net | 61,367 | 60,009 | ||||
Other intangible assets, net | 117,834 | 128,994 | ||||
Goodwill | 749,234 | 750,872 | ||||
Total assets | $ | 1,875,944 | $ | 1,879,598 | ||
Liabilities | ||||||
Trade accounts payable | $ | 128,619 | $ | 130,464 | ||
Accrued liabilities | ||||||
Compensation | 103,085 | 112,233 | ||||
Taxes - other than income | 22,599 | 19,144 | ||||
Insurance claims | 86,540 | 78,828 | ||||
Other | 107,090 | 102,220 | ||||
Income taxes payable | 5,547 | 307 | ||||
Total current liabilities | 453,480 | 443,196 | ||||
Income taxes payable | 38,732 | 38,236 | ||||
Line of credit | 266,000 | 300,000 | ||||
Retirement plans and other | 37,682 | 39,707 | ||||
Insurance claims | 262,208 | 262,573 | ||||
Total liabilities | 1,058,102 | 1,083,712 | ||||
Stockholders' Equity | 817,842 | 795,886 | ||||
Total liabilities and stockholders' equity | $ | 1,875,944 | $ | 1,879,598 | ||
ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES | |||||||||||
REVENUES AND OPERATING PROFIT BY SEGMENT (UNAUDITED) | |||||||||||
Three Months Ended |
Increase | ||||||||||
(In thousands) | 2012 | 2011 | (Decrease) | ||||||||
Revenues | |||||||||||
Janitorial | $ | 593,447 | $ | 590,254 | 0.5 | % | |||||
Facility Solutions | 222,550 | 229,197 | (2.9 | )% | |||||||
Parking | 152,680 | 156,127 | (2.2 | )% | |||||||
Security | 88,890 | 84,138 | 5.6 | % | |||||||
Corporate and other | (323 | ) | 367 | NM* | |||||||
$ | 1,057,244 | $ | 1,060,083 | (0.3 | )% | ||||||
Operating Profit | |||||||||||
Janitorial | $ | 33,494 | $ | 34,934 | (4.1 | )% | |||||
Facility Solutions | 6,381 | 6,842 | (6.7 | )% | |||||||
Parking | 6,092 | 4,894 | 24.5 | % | |||||||
Security | 1,012 | 897 | 12.8 | % | |||||||
Corporate | (28,116 | ) | (21,068 | ) | (33.5 | )% | |||||
Operating profit | 18,863 | 26,499 | (28.8 | )% | |||||||
Other-than-temporary impairment credit losses on auction rate security recognized in earnings |
(313 | ) | - | NM* | |||||||
Income from unconsolidated affiliates, net | 1,501 | 832 | NM* | ||||||||
Interest expense | (2,441 | ) | (4,317 | ) | (43.5 | )% | |||||
Income from continuing operations before income taxes |
$ | 17,610 | $ | 23,014 | (23.5 | )% | |||||
REVENUES AND OPERATING PROFIT BY SEGMENT (UNAUDITED) | |||||||||||
Six Months Ended |
Increase | ||||||||||
(In thousands) | 2012 | 2011 | (Decrease) | ||||||||
Revenues | |||||||||||
Janitorial | $ | 1,187,787 | $ | 1,184,860 | 0.2 | % | |||||
Facility Solutions | 456,323 | 421,845 | 8.2 | % | |||||||
Parking | 306,130 | 308,993 | (0.9 | )% | |||||||
Security | 180,872 | 172,894 | 4.6 | % | |||||||
Corporate | (83 | ) | 660 | NM* | |||||||
$ | 2,131,029 | $ | 2,089,252 | 2.0 | % | ||||||
Operating Profit | |||||||||||
Janitorial | $ | 64,002 | $ | 64,798 | (1.2 | )% | |||||
Facility Solutions | 12,746 | 14,292 | (10.8 | )% | |||||||
Parking | 10,842 | 9,628 | 12.6 | % | |||||||
Security | 1,857 | 2,198 | (15.5 | )% | |||||||
Corporate and other | (52,788 | ) | (47,501 | ) | (11.1 | )% | |||||
Operating profit | 36,659 | 43,415 | (15.6 | )% | |||||||
Other-than-temporary impairment credit losses on auction rate security recognized in earnings |
(313 | ) | - | NM* | |||||||
Income from unconsolidated affiliates, net | 4,633 | 1,619 | NM* | ||||||||
Interest expense | (5,275 | ) | (8,363 | ) | (36.9 | )% | |||||
Income from continuing operations before income taxes |
$ | 35,704 | $ | 36,671 | (2.6 | )% | |||||
* Not Meaningful | |||||||||||
|
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Reconciliations of Non-GAAP Financial Measures | ||||||||||||||||
(Unaudited) | ||||||||||||||||
(in thousands, except per share data) | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
|
April 30, | |||||||||||||||
2012 | 2011 | 2012 | 2011 | |||||||||||||
Reconciliation of Adjusted Income from Continuing Operations to Net Income |
||||||||||||||||
Adjusted income from continuing operations | $ | 16,251 | $ | 14,967 | $ | 28,037 | $ | 26,715 | ||||||||
Items impacting comparability, net of taxes | (4,504 | ) | (767 | ) | (5,650 | ) | (4,110 | ) | ||||||||
Income from continuing operations | 11,747 | 14,200 | 22,387 | 22,605 | ||||||||||||
Loss from discontinued operations | (35 | ) | (8 | ) | (45 | ) | (24 | ) | ||||||||
Net income | $ | 11,712 | $ | 14,192 | $ | 22,342 | $ | 22,581 | ||||||||
Reconciliation of Adjusted Income from Continuing Operations to Income from Continuing Operations |
||||||||||||||||
Adjusted income from continuing operations | $ | 16,251 | $ | 14,967 | $ | 28,037 | $ | 26,715 | ||||||||
Items impacting comparability: | ||||||||||||||||
Corporate initiatives and other (a) | (945 | ) | - | (2,371 | ) | - | ||||||||||
Rebranding (b) | (759 | ) | - | (1,490 | ) | - | ||||||||||
U.S. Foreign Corrupt Practices Act investigation (c) |
(855 | ) | - | (2,728 | ) | - | ||||||||||
Gain from equity investment (d) | 846 | - | 2,927 | - | ||||||||||||
Auction rate security credit loss | (313 | ) | - | (313 | ) | - | ||||||||||
Linc purchase accounting | - | (418 | ) | - | (698 | ) | ||||||||||
Acquisition costs | (147 | ) | (803 | ) | (147 | ) | (4,927 | ) | ||||||||
Litigation and other settlements | (5,390 | ) | - | (5,390 | ) | (920 | ) | |||||||||
Total items impacting comparability | (7,563 | ) | (1,221 | ) | (9,512 | ) | (6,545 | ) | ||||||||
Income taxes benefit | 3,059 | 454 | 3,862 | 2,435 | ||||||||||||
Items impacting comparability, net of taxes | (4,504 | ) | (767 | ) | (5,650 | ) | (4,110 | ) | ||||||||
Income from continuing operations | $ | 11,747 | $ | 14,200 | $ | 22,387 | $ | 22,605 | ||||||||
Reconciliation of Adjusted EBITDA to Net Income | ||||||||||||||||
Adjusted EBITDA | $ | 40,500 | $ | 42,046 | $ | 76,413 | $ | 77,747 | ||||||||
Items impacting comparability | (7,563 | ) | (1,221 | ) | (9,512 | ) | (6,545 | ) | ||||||||
Discontinued operations | (35 | ) | (8 | ) | (45 | ) | (24 | ) | ||||||||
Income taxes | (5,863 | ) | (8,814 | ) | (13,317 | ) | (14,066 | ) | ||||||||
Interest expense | (2,441 | ) | (4,317 | ) | (5,275 | ) | (8,363 | ) | ||||||||
Depreciation and amortization | (12,886 | ) | (13,494 | ) | (25,922 | ) | (26,168 | ) | ||||||||
Net income | $ | 11,712 | $ | 14,192 | $ | 22,342 | $ | 22,581 | ||||||||
(Continued) | ||||||||||||||||
Reconciliation of Adjusted Income from Continuing Operations per Diluted Share to Income from Continuing Operations per Diluted Share (Unaudited) |
||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
|
April 30, | |||||||||||||||
2012 | 2011 | 2012 | 2011 | |||||||||||||
Adjusted income from continuing operations per diluted share |
$ | 0.30 | $ | 0.28 | $ | 0.51 | $ | 0.50 | ||||||||
Items impacting comparability, net of taxes | (0.09 | ) | (0.02 | ) | (0.10 | ) | (0.08 | ) | ||||||||
Income from continuing operations per diluted share |
$ | 0.21 | $ | 0.26 | $ | 0.41 | $ | 0.42 | ||||||||
Diluted shares | 54,963 | 54,159 | 54,728 | 54,026 | ||||||||||||
(a) Corporate initiatives and other includes the integration costs
associated with |
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(b) Represents costs related to the Company's branding initiative. |
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(c) Includes legal and other costs incurred in connection with an internal investigation into a foreign entity affiliated with a former joint venture partner. |
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(d) The Company's share of a gain associated with property sales completed by one of its investments in a low income housing partnership. |
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|
||||||||
Reconciliation of Estimated Adjusted Income from Continuing
Operations per Diluted Share to Income from Continuing Operations
per Diluted Share for the Year Ending |
||||||||
Year Ending |
||||||||
Low Estimate | High Estimate | |||||||
(per diluted share) | ||||||||
Adjusted income from continuing operations per diluted share | $ | 1.40 | $ | 1.50 | ||||
Adjustments to income from continuing operations (a) | $ | (0.14 | ) | $ | (0.14 | ) | ||
Income from continuing operations per diluted share | $ | 1.26 | $ | 1.36 | ||||
(a) Adjustments to income from continuing operations are expected to include rebranding costs and other unique items impacting comparability. | ||||||||
Investors & Analysts:
dfarwell@abm.com
Media:
chas.strong@abm.com
Source:
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