ABM Achieves Record Revenues of $6.5B in 2019December 19, 2019
ABM announced financial results for the fourth quarter and full year that ended October 31, 2019.
For fiscal 2019, the company achieved record revenues of US$6.5 billion. Organic growth was 1.6%, primarily driven by its Technical Solutions and Aviation segments. For the fourth quarter of fiscal 2019, ABM achieved revenues of $1.6 billion reflecting organic growth of 0.6% excluding the adoption of Accounting Standards Codification (ASC) 853 and ASC 606.
ABM also announced that the board of directors approved a 2.8% increase for the quarterly cash dividend to $0.185 per common share, payable on February 3, 2020, to stockholders of record on January 2, 2020. This marks ABM’s 215th consecutive quarterly cash dividend.
In addition, the board of directors authorized a $150 million share repurchase program replacing the company’s existing share repurchase program, which was authorized in 2015.
ABM is a provider of building maintenance and facility services across the United States and Canada, offering customized solutions for cleaning, engineering maintenance, and commercial building maintenance. For more information, visit www.abm.com.