Jefferies likes ABM Industries' (ABM -0.4%) quarterly results, which fueled a strong session Tuesday after EPS came in ahead of expectations Monday evening. Analyst Dan Dolev hikes his FY13 and FY14 EPS estimates to $1.45 (midpoint of company guidance) and $1.58 respectively. Price target to $29 from $28.
ABM Industries (ABM +2.4%) enjoys a strong session after FQ2 earnings come in ahead of expectations. From the report: Adjusted EPS rises 20% Y/Y as the janitorial, facility services, and security segments see organic growth of 2.7%, 8.4%, and 3% respectively. CEO Henrik Slipsager says "recent project wins, a strong sales pipeline, and an improving economy, [leave ABM] well positioned for sustained growth." The company ups its full year EPS guidance to $1.40-1.50 versus consensus of $1.40. (PR)
ABM Industries (ABM) agrees to buy Air Serv Corp. for ~$158M in cash, as it looks to expand its service offerings to airlines and airport authorities. ABM says Air Serv, when combined with ABM's janitorial, facility solutions, security and parking airport businesses, will create an integrated aviation vertical with ~$650M in annual revenues.
ABM Industries Inc provides integrated facility solutions. The Company provides management services to thousands of commercial, governmental, industrial, institutional, residential, and retail client facilities throughout the United States.