ABM Industries Q1 Adj. EPS Tops Estimates, But Revenues Miss; Backs FY23 Outlook

RTTNews | 977 days ago
Stocktwits
ABM Industries Q1 Adj. EPS Tops Estimates, But Revenues Miss; Backs FY23 Outlook

(RTTNews) - Facility management company ABM Industries, Inc. (ABM) reported on Wednesday first-quarter net income of $38.5 million or $0.58 per share, sharply lower than $76.0 million or $1.01 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.79 per share, compared to $0.94 per share in the year-ago quarter.

Total revenue for the quarter grew 3 percent to $1.99 billion from $1.94 billion in the same quarter last year. Organic revenue growth was 1 percent.

On average, seven analysts polled by Thomson Reuters expect the company to report earnings of $0.77 per share on net sales of $2.02 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2023, the company continues to project earnings in the range of $2.43 to $2.63 per share and adjusted earnings in the range of $3.40 to $3.60 per share.

The Street is looking for earnings of $3.52 per share for the year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: ABM
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Swiss Market Settles Flat

Swiss Market Settles Flat

The Switzerland market opened on a slightly positive note Friday morning, but slipped into the red soon thereafter and then stayed weak right through the day's session, amid concerns about valuations of AI related stocks, and worries about the outlook for near term economic growth.
RTTNews | 1 day ago
European Markets Close Weak On Growth Worries, Tech Valuations Concerns

European Markets Close Weak On Growth Worries, Tech Valuations Concerns

European markets closed weak on Friday, with most of the markets extending losses from the previous session, as lingering concerns about high valuations in AI-related stocks and uncertainty about the outlook for economic growth due to the US government shutdown.
RTTNews | 1 day ago
TSX Slids To 1-month Low; Tech Stocks Under Pressure Again

TSX Slids To 1-month Low; Tech Stocks Under Pressure Again

The Canadian market is down firmly in negative territory a little before noon on Friday after strong jobs data raised the possibility of the Canadian central bank leaving interest rates unchanged at its next monetary policy meeting.
RTTNews | 1 day ago
U.S. Consumer Sentiment Drops To Near-Record Low In November

U.S. Consumer Sentiment Drops To Near-Record Low In November

Consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of November, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index slid to 50.3 in November after falling to 53.6 in October. Economists had expected the index to edge down to 53.2.
RTTNews | 1 day ago
Commodity Prices, Jobs Data In Focus

Commodity Prices, Jobs Data In Focus

Lower Canadian and U.S. futures point to a negative start on Bay Street Friday morning, but fairly strong commodity prices could trigger some buying in resources stocks and limit market's downside.
RTTNews | 1 day ago
CAC 40 Down Nearly 0.5% In Lackluster Trade

CAC 40 Down Nearly 0.5% In Lackluster Trade

The French stock market's benchmark index CAC 40 is down in negative territory on Friday with investors largely refraining from making significant moves amid a lack of fresh triggers. Worries about growth amid uncertainty over future policy moves of central banks, and U.S. government's tariff policies appear to be rendering the mood cautious.
RTTNews | 1 day ago
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