ABM Reports 4th-Quarter Revenue Increases 19%December 14, 2022
The company reported a quarterly net income of $49.8 million, or $0.73 per share, up 43% compared to $34.3 million, or $0.50 per share, last year. ABM credited the revenue gains to a 12% rise in revenue in its technical solutions segment and a 9% increase in its manufacturing and distribution division.
“ABM generated solid fourth-quarter results, with total revenue growth of 19%, including broad-based organic revenue growth of 6% and double-digit adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) growth. Our adjusted EBITDA margin of 6.8% reflects consistent execution by the ABM team,” said Scott Salmirs, ABM CEO and president.
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.