Revenue climbed 4.2% to $2.32 billion, balancing organic growth with the integration of new business assets. Chief Executive Scott Salmirs noted that the company successfully managed project timing challenges and broader economic uncertainty, with the Aviation and Manufacturing & Distribution divisions serving as primary drivers of this fiscal momentum.
In section Market Quotes
ABM Industries Profits Rise on Tech Market Gains
ABM Industries reported a profit of $49.7 million for the fiscal third quarter ending July 31, a significant jump from the $41.8 million recorded during the same period last year. Driven by expansion in technology markets and strategic acquisitions, the company surpassed adjusted earnings expectations set by Wall Street analysts.
Despite the overall gains, the Technical Solutions arm faced headwinds as project deferrals suppressed demand. Consequently, ABM narrowed its full-year adjusted earnings guidance to a range of $3.95 to $4.10 per share. Investors reacted with caution following the announcement, sending company shares down 2.2% to $46 in premarket trading.
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