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ABM Industries: Fiscal 4Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ ABM Industries Inc. (ABM) on Wednesday reported fiscal fourth-quarter net income of $53.1 million.

On a per-share basis, the New York-based company said it had net income of 78 cents. Earnings, adjusted for non-recurring gains, were 69 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.

The provider of cleaning and other maintenance services for commercial buildings, hospitals and airports posted revenue of $1.48 billion in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $1.45 billion.

For the year, the company reported profit of $300,000. Revenue was reported as $5.99 billion.

For the current quarter ending in February, ABM Industries expects its per-share earnings to range from 60 cents to 65 cents.

ABM Industries shares have increased almost 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $40.31, an increase of roughly 8% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABM at https://www.zacks.com/ap/ABM