Jun. 6 at 11:01 AM
$ABM ABM reports Q2 adjusted EPS 86c, consensus 86c
Reports Q2 revenue
$2.1B, consensus
$2.06B. "ABM's second quarter performance was highlighted by a return to organic revenue growth in our Business & Industry segment, driven by improving conditions in our prime commercial office markets," said Scott Salmirs, President & Chief Executive Officer. "We are also encouraged by the growth in our Manufacturing & Distribution segment, driven by new business wins.
We achieved 3.8% organic revenue growth, despite some unfavorable timing on certain projects in Technical Solutions. Additionally, we secured
$1.1 billion in new bookings through the first half of the year, an 11% increase year over year, underscoring the strength of our market position, our focus on innovation, and our essential role as a resilient, non-discretionary service provider. We also produced significant sequential improvement in cash flow as we made important strides in deploying our enterprise resource planning system across the B&I and M&D segments."
Looking ahead to the second half of 2025, Mr. Salmirs added, "We remain constructive on the outlook for our core markets, particularly high-quality office buildings, manufacturing and distribution facilities, commercial aviation, and microgrids. Further, projects delayed in the second quarter are expected to be realized in the third quarter."
