$ABM (ABM Industries Incorporated)

$ABM {{ '2016-09-08T13:19:57+0000' | timeago}} • Webcast

$ABM's Janitorial revenues for 3Q16 rose 2% vs. 3Q15 and operating margins were 6.3%. The company's Facility Services revenue fell 0.8% or $1.1MM due to certain contract losses, which were partially offset by new and expanded business. Operating margins for this segment were 5.4% vs. 4.1% in 3Q15 benefiting from tag revenue & lower legal expenses.

$ABM {{ '2017-07-12T20:31:50+0000' | timeago}} • Announcement

$ABM, a leading provider of facility solutions, has agreed to acquire GCA Services Group (GCA) from affiliates of Thomas H. Lee Partners, L.P. and Goldman Sachs Merchant Banking Division for approx. $1.25Bil in cash and stock. $ABM expects revenue contribution of GCA to be approx. $1.1Bil after the first full year of ownership.

$ABM {{ '2017-06-26T20:30:49+0000' | timeago}} • Announcement

Facility solutions provider $ABM appointed Andrea Newborn as EVP and General Counsel, effective July 5, 2017. She has also been named the Corporate Secretary. Most recently, Newborn served as EVP and General Counsel at  TravelClick Inc. Prior to that, she was General Counsel for The Reader's Digest Association.

$ABM {{ '2017-06-21T13:35:03+0000' | timeago}} • Announcement

$ABM said the US Department of Energy (DOE) selected $ABM Technical Solutions for placement on its Energy Savings Performance Contract (ESPC) Multi-Award Task Order Contract (MATOC). Selection to the DOE ESPC allows ABM to compete for more than $750MM of projects awarded through the contract each year.

$ABM {{ '2017-06-08T13:35:04+0000' | timeago}} • Webcast

$ABM said in Emerging Industries, given the highly concentrated portfolio of customers, volatility will always exist. $ABM lost a large contract entering 2017 and the impact of this will continue for the rest of 2017 but there are some good wins, pipelines and expansions with existing customers so $ABM feels positive about the 2017 outlook.

$ABM {{ '2017-06-08T13:15:59+0000' | timeago}} • Webcast

During 2Q17, in $ABM’s Business & Industry segment, revenues increased to $733MM versus 2Q16. Aviation revenues increased 14.4% to $232MM. In Emerging Industries, revenues totalled $192MM. In Technical Solutions, revenues grew about 10% to $110.8MM from last year.

$ABM {{ '2017-06-08T13:07:31+0000' | timeago}} • Webcast

$ABM closed the sale of its Government Services business on May 31, 2017 for pre-tax cash proceeds of $35.5MM. The proceeds from this transaction will be used to pay down debt. The 2Q17 results for Government Services include the recovery of $17.4MM of previously impaired assets.

$ABM {{ '2017-06-07T21:09:56+0000' | timeago}} • Announcement

$ABM appointed Mark Newsome as SVP and President of ABM Technical Solutions, succeeding Scott Giacobbe, effective immediately. Newsome was previously a SVP within the company's Technical Solutions group.

$ABM {{ '2017-06-07T21:04:07+0000' | timeago}} • Announcement

$ABM said Scott Giacobbe, SVP and President of ABM Technical Solutions, has been elected EVP and will succeed James McClure as EVP and COO, effective Nov.  1, 2017. McClure informed the company of his decision to retire at the end of the current fiscal year after more than 30 years with the company.

$ABM {{ '2017-06-07T20:50:33+0000' | timeago}} • Announcement

For FY17, $ABM expects GAAP income from continuing operations of $1.63-1.73 per diluted share. Adjusted income from continuing operations is expected to be in the range of $1.85-1.95 per diluted share for FY17.

$ABM {{ '2017-06-07T20:47:20+0000' | timeago}} • Announcement

$ABM BoD declared a cash dividend of $0.170 per common share for 3Q17. The dividend is payable on Aug. 7, 2017 to shareholders of record on July 6, 2017.

$ABM {{ '2017-06-07T20:45:49+0000' | timeago}} • Announcement

Facility management provider $ABM reported a significant increase in 2Q17 earnings, driven by higher operating income and higher revenue. Net income increased 611.3% to $31.3MM or $0.55 per share from $4.4MM or $0.08 per share a year ago. Revenue for the quarter increased 4.24% to $1.31Bil, driven by Aviation segment new business wins.

$ABM {{ '2017-02-02T20:21:13+0000' | timeago}} • Announcement

$ABM said ABM Technical Solutions has signed an agreement to implement the largest PACE-financed project in Michigan for Heller Machine Tools L.P. Project work began June 2016 and is scheduled to be completed in February 2017.

$ABM {{ '2017-01-26T18:13:54+0000' | timeago}} • Announcement

$ABM said its ABM Technical Solutions group has acquired Mechanical Solutions, Inc., a provider of HVAC services, plumbing and building automation in the Dallas, TX area. Paul Robinson, previous owner of MSI, will now serve as VP of Business Development for ABM Technical Solutions Group.

$ABM {{ '2017-01-26T17:33:22+0000' | timeago}} • Announcement

$ABM's BoD elected Art Garcia and Filippo Passerini as independent directors, effective immediately. Committee appointments for Garcia and Passerini will be finalized in March 2017. Garcia is the EVP and CFO of $R. Passerini is an Operating Executive in U.S. Buyouts at $CG.

$ABM {{ '2016-12-21T13:28:36+0000' | timeago}} • Announcement

$ABM reported that Sarah Hlavinka McConnell, EVP, General Counsel and Corporate Secretary, had decided to leave the company in mid-January 2017 to pursue other opportunities.

$ABM {{ '2016-12-14T14:47:20+0000' | timeago}} • Webcast

$ABM had some performance challenges in its Parking business related to startup costs associated with a large aviation contract. There was margin compression on some legacy accounts. In Janitorial, two items impacted 4Q16. One was an inventory review and the other was a review of UK operations. The rest of the operations were in line with plans.

$ABM {{ '2016-12-14T14:13:10+0000' | timeago}} • Webcast

In 4Q16, revenues in $ABM’s Janitorial segment rose 2.3% to $704.5MM. Facility Services revenue increased 2.9% to $149.6MM. Parking generated revenues of $171.6MM, up 6.8% from last year. Building & Energy Solutions revenues increased 2.9% to $172.5MM versus 4Q15. Revenues for the Other segment grew 8.3% to $124.1MM.

$ABM {{ '2016-12-14T13:50:25+0000' | timeago}} • Webcast

During 4Q16, $ABM committed to a plan to sell its Government business, which is currently included in the Building & Energy Solutions segment but does not fit strategically with the company's 2020 Vision transformation. Until further updates are provided, $ABM will report the Government business as held for sale in continuing operations.

$ABM {{ '2016-12-13T21:33:42+0000' | timeago}} • Announcement

$ABM expects FY17 GAAP income from continuing operations of $1.40-1.50 per diluted share, or adjusted income from continuing operations of $1.80-1.90 per diluted share. The company plans to change its reportable operating segments based on its 2020 Vision reorganization from 1Q17.

$ABM {{ '2016-12-13T21:33:27+0000' | timeago}} • Announcement

$ABM's BoD approved a 3% increase for the quarterly cash dividend to $0.170 per common share, payable on Feb. 6, 2017 to stockholders of record on Jan. 5, 2017.

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