ABM Industries (NYSE:ABM) delivered a mixed financial report for the first quarter, exceeding profit expectations but falling short on revenue, which sent its shares down around 9% intra-day today.
The facility solutions provider posted adjusted earnings per share of $0.87, outpacing analyst projections of $0.76. Despite this earnings beat, revenue came in at $2.1 billion, slightly below the consensus, even as it reflected a modest 2.2% year-over-year increase.
Net income dipped to $43.6 million, or $0.69 per diluted share, compared to $44.7 million, or $0.70 per share, a year earlier. Meanwhile, adjusted EBITDA improved to $120.6 million from $116.7 million in the prior-year period, signaling operational resilience.
Looking ahead, ABM slightly raised the lower end of its full-year earnings forecast, now expecting adjusted EPS in the range of $3.65 to $3.80, up from its previous guidance of $3.60 to $3.80. The company reaffirmed its adjusted EBITDA margin outlook of 6.3% to 6.5%, maintaining a cautious but steady approach amid shifting market conditions.