ABM Industries Inc. (NYSE:ABM) shares are trading higher after the company reported third-quarter earnings and raised guidance.
Sales grew 3.3% Y/Y to $2.09 billion, beating the consensus of $2.037 billion. Revenue growth was driven by Technical Solutions (+25% Y/Y) and Aviation (+13%), with Education increasing by 4% Y/Y.
Operating expenses increased 3.7% Y/Y to $1.83 billion, and operating profit declined 73.1% Y/Y to $37.4 million in the quarter.
Adjusted EBITDA rose 2% Y/Y to $128.1 million, with the margin remaining flat Y/Y at 6.4%. Adjusted EPS of $0.94, up 19% Y/Y, beating the ...
