abm industries inc (ABM) Key Developments
ABM Industries Receives Parking Management Contract with Nashville International Airport
May 29 15
ABM Industries announced that it has been awarded a multi-year contract to manage parking operations at Nashville International Airport. Under the terms of the multi-million dollar contract, ABM Parking Services will operate and oversee 11,150 parking spaces across the Nashville International Airport's five parking facilities, including a dynamic valet parking service. Approximately 95 employees will be engaged in providing parking services at the airport. In addition to the contract with Nashville International Airport, ABM provides parking services at many other key airports around the country, including: New York City, Newark, Minneapolis-St. Paul, Washington DC, Sacramento, Orlando and Tampa among others.
ABM Industries Incorporated to Report Q2, 2015 Results on Jun 02, 2015
May 20 15
ABM Industries Incorporated announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jun 02, 2015
ABM Industries Incorporated Announces Management Changes
Apr 8 15
ABM announced the appointment of D. Anthony Scaglione as Executive Vice President and Chief Financial Officer, effective immediately. Scaglione succeeds James S. Lusk, who has served in that role since January 2008. Lusk will remain with the company for an interim period to ensure a smooth transition. Scaglione has served as ABM’s Senior Vice President, Treasurer and Mergers and Acquisitions since January 2012. Prior to joining ABM, among his other professional positions, Scaglione served in finance and treasury positions with CA Technologies from August 2005 through June 2009. Scaglione currently serves as Chairman of the Board of the Association for Financial Professionals (AFP).
NBA Selects ABM as Cleaning Partner of its Sacramento Kings
Mar 17 15
ABM announced an anticipated agreement to become the exclusive cleaning services provider for Sleep Train Arena, home of the National Basketball Association's (NBA) Sacramento Kings. Under the anticipated multi-year agreement between ABM and the Kings, which is expected to commence April 2, ABM will be responsible for providing day-to-day pre-event, event and post-event janitorial services. Key to ABM's selection was experience in the sports & entertainment market, as well as ABM's GreenCare® program, which will minimize environmental impacts through best-in-class sustainable cleaning practices. Also as part of the contract, ABM is now a corporate partner of the Sacramento Kings.
ABM Industries Incorporated Announces Unaudited Consolidated Earnings Results for the First Quarter Ended January 31, 2015; Provides Earnings Guidance for 2015
Mar 3 15
ABM Industries Incorporated announced unaudited consolidated earnings results for the first quarter ended January 31, 2015. For the quarter, the company reported revenues of $1,289.4 million against $1,226.5 million a year ago. Operating profit was $19.2 million against $23.9 million a year ago. Income before income taxes was $18.0 million against $22.7 million a year ago. Net income was $17.7 million or $0.31 per diluted share against $13.1 million or $0.23 per diluted share a year ago. Net cash used in operating activities was $32.4 million against $38.9 million a year ago. Adjusted net income was $21.5 million or $0.38 per diluted share against $14.1 million or $0.25 per diluted share a year ago. Adjusted operating profit was $25.8 million against $25.6 million a year ago. Adjusted EBITDA was $41.3 million against $41.5 million a year ago. Capital expenditures was $6.4 million, down $3.4 million year on year.
For fiscal 2015, the company is increasing adjusted net income to $1.75 to $1.85 per diluted share to increasing net income of $1.55 to $1.65 per diluted share. This guidance excludes potential benefits associated with the Work Opportunity Tax Credit, should Congress extend the WOTC for calendar 2015, prior to October 31, 2015, the company could have a further benefit of $0.08 per diluted share in fiscal 2015. Effective tax rate in the range of 34% to 38%. Capital expenditures are expected to be in the range of $31.0 million to $35.0 million.