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ABM Reveals Increase in 4th Quarter Revenue

December 30, 2021 ABM Reveals Increase in 4th Quarter Revenue

ABM reported a fiscal fourth-quarter revenue of US$1.7 billion, a 14.2% year-over-year increase in sales.

The company credited the increase to improving business conditions, continued demand for its higher-margin virus protection services, efficient labor management, and strategic mergers and acquisitions.

ABM reported a quarterly net income from continuing operations of $34.3 million, or $0.50 per diluted share, compared to income from continuing operations of $53.1 million, or $0.78 per diluted share last year. The decrease in income from operations is primarily attributable to increased operating and acquisition-related costs, as well as preliminary expenses from the multi-year comprehensive investment initiative called Elevate, and a lower benefit from self-insurance adjustments related to prior years.

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 www.abm.com.