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ABM Increases 1st-Quarter Revenue 3.9%

ABM has reported a fiscal first-quarter revenue of US$2.1 billion, a 3.9% year-over-year increase in sales.

The company reported a quarterly net income of $44.7 million, or $0.70 per share, up 16.1% compared to $38.5 million, or $0.58 per share, last year. ABM credited the revenue gains to a 17.5% rise in revenue in its aviation segment due to strong travel activity and new business wins during the quarter.

“ABM is off to an excellent start in 2024, generating revenue growth of 3.9%,” said Scott Salmirs, ABM CEO and president. “We are particularly pleased with the double-digit revenue growth we posted in our aviation and technical solutions segments, while manufacturing & distribution and education were solid as well. Despite soft demand in the commercial real estate market, business & industry’s revenue was essentially flat, benefiting from our focus on higher performing Class A properties and exposure to the vibrant sports and entertainment markets.”

About ABM
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 abm.com.