The 10-second takeaway
For the quarter ended April 30 (Q2), ABM Industries met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew significantly.
Margins grew across the board.
ABM Industries logged revenue of $1.17 billion. The four analysts polled by S&P Capital IQ hoped for revenue of $1.17 billion on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $1.06 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 $0.36. The six earnings estimates compiled by S&P Capital IQ averaged $0.33 per share. Non-GAAP EPS of $0.36 for Q2 were 20% higher than the prior-year quarter's $0.30 per share. GAAP EPS of $0.35 for Q2 were 67% higher than the prior-year quarter's $0.21 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 10.7%, 40 basis points better than the prior-year quarter. Operating margin was 2.9%, 60 basis points better than the prior-year quarter. Net margin was 1.6%, 50 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.20 billion. On the bottom line, the average EPS estimate is $0.41.
Next year's average estimate for revenue is $4.76 billion. The average EPS estimate is $1.44.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ABM Industries is outperform, with an average price target of $25.00.
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