The 10-second takeaway
For the quarter ended July 31 (Q3), ABM Industries met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped significantly.
Margins dropped across the board.
ABM Industries logged revenue of $1.08 billion. The three analysts polled by S&P Capital IQ expected to see a top line of $1.09 billion on the same basis. GAAP reported sales were 0.3% higher than the prior-year quarter's $1.08 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.37. The five earnings estimates compiled by S&P Capital IQ averaged $0.42 per share. GAAP EPS of $0.23 for Q3 were 55% lower than the prior-year quarter's $0.51 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 10.0%, 150 basis points worse than the prior-year quarter. Operating margin was 2.1%, 140 basis points worse than the prior-year quarter. Net margin was 1.2%, 140 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.10 billion. On the bottom line, the average EPS estimate is $0.45.
Next year's average estimate for revenue is $4.32 billion. The average EPS estimate is $1.39.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ABM Industries is hold, with an average price target of $26.00.
Can your portfolio provide you with enough income to last through retirement? You'll need more than ABM Industries. Learn how to maximize your investment income and get "The 3 DOW Stocks Dividend Investors Need." Click here for instant access to this free report.
- Add ABM Industries to My Watchlist.