abm industries inc (ABM) Key Developments
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.
ABM Industries Declares Dividend for the Second Quarter of 2015, Payable on May 4, 2015
Mar 3 15
The board of directors of ABM Industries Incorporated has declared a second quarter cash dividend of $0.16 per common share payable on May 4, 2015 to stockholders of record on April 2, 2015.
Allegiance Health Selects ABM Healthcare Support Services to Provide Multiple Support Service Lines
Feb 26 15
ABM announced that ABM Healthcare Support Services has been selected to provide multiple support service lines for Allegiance Health in Jackson, Michigan. With the multi-year, multi-service management partnership, ABM has begun overseeing all housekeeping, food and nutrition and laundry service operational aspects, with a commitment to enhance Allegiance's exceptional patient care and continuous improvement in the patient experience through a clean, healthy, healing environment.