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ABM Industries Q2 Earnings & Revenues Beat Estimates

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ABM Industries Incorporated (NYSE: ABM) reported impressive second-quarter fiscal 2024 results, wherein earnings per share and revenues surpassed the Zacks Consensus Estimate.

ABM’s EPS (excluding 18 cents from non-recurring items) was 87 cents, which beat the Zacks Consensus Estimate by 11.5% but decreased 3.3% from the year-ago quarter. Total revenues of $2 billion outpaced the consensus mark by 1% and increased 1.7% on a year-over-year basis.

The company’s shares have gained 15.5% in the past three months, outperforming the 5.5% rally of the industry it belongs to.

ABM Industries Incorporated Price and EPS Surprise

ABM Industries Incorporated Price and EPS Surprise

ABM Industries Incorporated price-eps-surprise | ABM Industries Incorporated Quote

Segmental Revenues

The Aviation segment’s revenues gained 4.8% from the year-ago quarter to $238.2 million and missed our extimate of $240.6 million. The metric was driven primarily by robust travel markets, and business wins on airport and airline for the business.

Technical Solutions increased 4.6% from second-quarter fiscal 2023 to $176.2 million. The metric missed our estimate …

Full story available on Benzinga.com

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