Published on 14 Mar 2024 on Zacks via Yahoo Finance
ABM Industries (ABM) Gains From ELEVATE Amid Economic Risks
ABM Industries Incorporated ABM is benefiting from the long-term transformative and strategic plans, acquisition and liquidity amid economic and labor risks.
ABM reported impressive first-quarter fiscal 2024 results, wherein earnings per share (EPS) and revenues beat the Zacks Consensus Estimate. ABM’s EPS (excluding 16 cents from non-recurring items) was 86 cents per share, which surpassed the Zacks Consensus Estimate by 19.4% and increased 8.9% from the prior-year quarter. Total revenues of $2.1 billion beat the consensus mark by 2.9% and improved 3.9% from first-quarter fiscal 2023.
The stock has gained 4.1%, underperforming the 21.5% rally of the industry it belongs to and the 15.3% rise of the Zacks S&P 500 composite in the past six months.