More on ABM Industries Q3 results

|About: ABM Industries Incorpo... (ABM)|By:, SA News Editor

ABM Industries (ABM +0.6%) reports Q3 revenue growth of 1.9% Y/Y to $1.65B.

Segment revenue: Business & Industry of $807.9M (-1.8% Y/Y); Aviation $263.3M (+1.1% Y/Y); Technology & Manufacturing $226.9M (-1.8% Y/Y); Education $215.4M (-0.3% Y/Y) & Technical Solutions $165.7M (+27.2% Y/Y).

Organic revenue growth of 2.3%, primarily driven by growth within the Technical Solutions and Aviation segments.

Adj. EBITDA margin increased 20 bps to 5.6%.

Adj. income from continuing operations increased 5.8% Y/Y to $40.2M.

Net cash provided by operating activities decreased 22.6% Y/Y to $57.4M.

Total debt, including standby letters of credit was $1.1B and total debt to Adj. EBITDA was ~3.2x.

The company paid a quarterly cash dividend of $0.18/share for a total distribution of $11.9M.

Reaffirmed 2019 Outlook: GAAP EPS of $1.70-1.80 and Adj. EPS of $1.95-2.05.

Previously: ABM Industries declares $0.18 dividend (Sep. 05 2019)

Previously: ABM Industries EPS beats by $0.02, revenue in-line (Sep. 05 2019)

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