ABM Reports 1st-Quarter Revenue Rises 29%March 9, 2022
ABM reported a fiscal first-quarter revenue of US$1.9 billion, a 29.7% year-over-year increase in sales.
The company credited the revenue gains to global recovery from the COVID-19 pandemic fueling the need for specialized janitorial and facility services coupled with the completion of its acquisition of Able Services. ABM reported a quarterly net income of $76 million, or $1.12 per share, up 1.8% compared $74.6 million, or $1.11 per share last year.
“ABM is off to a great start in 2022 as demonstrated by our solid first quarter results,” said Scott Salmirs, ABM CEO and president. “I am particularly pleased with our organic revenue growth of 9.1%, which reflects improved demand across almost all of our industry groups driven by the emerging pandemic recovery and secular trends such as healthy buildings, sustainability, and energy efficiency. We have strong service offerings that closely link to these trends, and we are having success winning new business.”
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.