Facility services provider ABM Industries (NYSE:ABM) will be announcing earnings results this Tuesday before market hours. Here’s what investors should know.
ABM beat analysts’ revenue expectations last quarter, reporting revenues of $2.29 billion, up 8.4% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a narrow beat of analysts’ full-year EPS guidance estimates.
Is ABM a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting ABM’s revenue to grow 4% year on year, slowing from the 6.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. ABM rarely misses Wall Street’s revenue estimates.
Looking at ABM’s peers in the industrial & environmental services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. CECO Environmental delivered year-on-year revenue growth of 53.7%, beating analysts’ expectations by 2.2%, and Vestis reported a revenue decline of 1.8%, falling short of estimates by 1.2%. CECO Environmental traded up 4.3% following the results while Vestis was also up 2.1%.
Read our full analysis of CECO Environmental’s results here and Vestis’s results here.
Investors in the industrial & environmental services segment have had steady hands going into earnings, with share prices flat over the last month. ABM is down 1.8% during the same time and is heading into earnings with an average analyst price target of $52.43 (compared to the current share price of $47.06).
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