ABM - ABM Industries Reports Mixed Q2 Results CEO Optimistic About Future Margins | Benzinga
ABM Industries Inc. (NYSE:ABM) shares are trading higher after the company reported second-quarter 2024 earnings and provided guidance.
ABM reported second-quarter sales growth of 1.7% year-over-year to $2.02 billion, beating the consensus of $2 billion.
Operating profit declined 12.3% year-over-year (YoY) to $81.3 million, and the contracted by 64 bps to 4%.
Operating expenses increased 2.8% YoY to $1.76 billion, and Selling, general and administrative expenses rose 2.1% to $159.9 million.
Adjusted EPS was 87 cents, down from 90 cents, beating the consensus of 79 cents.
Adjusted EBITDA fell 8.5% to $125.3 million with an adjusted EBITDA margin of 6.2%, a ...