Diversified industrial and facilities services company ABM Industries (NYSE:ABM) will be reporting earnings tomorrow before the bell. Here’s what you need to know.
ABM Industries beat analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $2.09 billion, up 3.3% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ organic revenue estimates and an impressive beat of analysts’ EBITDA estimates.
Is ABM Industries a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting ABM Industries’s revenue to be flat year on year at $2.08 billion, slowing from the 4.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.87 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ABM Industries has missed Wall Street’s revenue estimates twice over the last two years.
Looking at ABM Industries’s peers in the environmental and facilities services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. BrightView’s revenues decreased 2% year on year, beating analysts’ expectations by 0.7%, and Aris Water reported revenues up 12.5%, topping estimates by 8.6%. BrightView traded down 13.4% following the results while Aris Water was up 26.4%.
Read our full analysis of BrightView’s results here and Aris Water’s results here.
Investors in the environmental and facilities services segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. ABM Industries is up 4.1% during the same time and is heading into earnings with an average analyst price target of $57.83 (compared to the current share price of $57.12).
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