ABM Industries Inc. (NYSE:ABM) shares are trading higher after the company reported first-quarter FY25 earnings.
Sales grew 2.2% year over year to $2.11 billion, beating the consensus of $2.09 billion.
Revenue growth was driven by Technical Solutions (+22% Y/Y) and Aviation (+8.2% Y/Y), with Education revenue rose 2.4% Y/Y.
Operating profit rose 4.7% Y/Y to $77.6 million in the quarter. Adjusted EBITDA rose to $120.6 million from $116.7 million a year ago quarter, with the adjusted EBITDA margin stood at 5.9% (flat Y/Y).
Adjusted EPS of 87 cents beat the consensus of 78 cents.
Net cash used in operating activities was $106.2 million, and free cash flow was negative $122.9 million, primarily reflecting a temporary increase in working capital due to the transition to the new ERP system.
As of January-end, ABM …
Leave a Reply
You must be logged in to post a comment.