ABM INDUSTRIES Reports Record Earnings for FY2023 Q3
September 13, 2023
🌥️Earnings Overview
ABM ($NYSE:ABM) Industries announced their financial results for the fiscal third quarter of 2023, which ended on July 31st, 2023, on September 7th, 2023. There was a 3.4% increase in total revenue to USD 2028.2 million from the same quarter last year. The net income also rose 72.7% from the prior year to USD 98.1 million.
Price History
On Thursday, ABM INDUSTRIES reported record earnings for FY2023 Q3, with the stock opening at $40.5 and closing at $38.7, a drop of 13.6% from the previous closing price of 44.8. The drop can be largely attributed to investors’ concerns about the company’s ability to sustain its recent performance in the face of a rapidly changing business climate. Many investors remain wary of ABM INDUSTRIES’ profitability, given its reliance on volatile revenue streams from its various divisions. Nevertheless, ABM INDUSTRIES was able to report higher earnings on Thursday than expected, given its ability to successfully capitalize on new markets and adapt to changing economic conditions.
With a strong portfolio of products, investments, and services, ABM INDUSTRIES remains well-positioned for continued success in the future. Overall, ABM INDUSTRIES was able to report strong financial results despite the turbulent economic environment. Investors should remain optimistic about the company’s long-term prospects and ability to deliver sustainable returns. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Abm Industries. More…
| Total Revenues | Net Income | Net Margin |
| 8.01k | 237.3 | 3.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Abm Industries. More…
| Operations | Investing | Financing |
| 221.2 | -193.2 | 2.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Abm Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.97k | 3.11k | 26.95 |
Key Ratios Snapshot
Some of the financial key ratios for Abm Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.2% | 12.3% | 4.8% |
| FCF Margin | ROE | ROA |
| 2.2% | 13.5% | 4.8% |
Analysis
At GoodWhale, we believe in taking the time to thoroughly analyze investments so that our investors can make informed decisions. That’s why we recently conducted an analysis of ABM INDUSTRIES‘s wellbeing. Overall, our evaluation gave ABM INDUSTRIES a Risk Rating of medium. This means that it presents a moderate risk in terms of its financial and business aspects. Of course, this could change depending on future circumstances, and investors need to undertake their own research to make sure they are comfortable with this potential investment. Our analysis also revealed one risk warning in the balance sheet. To find out more about this, you will need to become a registered user with GoodWhale. Once registered, you can access the full report to get the information you need when making your decision. More…
Peers
As the competition heats up, ABM Industries Inc will have to make sure that their services remain the best in the industry in order to stay ahead of their competitors.
– Mader Group Ltd ($ASX:MAD)
Mader Group Ltd is a leading global provider of construction services, specializing in the mining and energy sectors. With a market cap of 714M as of 2022, the company is well positioned to continue to grow and expand its business. Mader Group Ltd has a very impressive Return on Equity (ROE) of 33.68%, which is significantly higher than the industry average of 14%. This indicates that the company is making effective use of its equity to generate excellent returns for its shareholders. Mader Group Ltd is well-positioned to capitalize on growth opportunities in the global construction and energy sectors.
– Teleperformance SE ($OTCPK:TLPFF)
Teleperformance SE is a global leader in customer experience management and business process outsourcing. Founded in 1978, the company specializes in providing customer care, technical support, and digital integrated services across multiple channels. As of 2022, Teleperformance SE has a market capitalization of 13.34B. Its return on equity (ROE) is 16.41%, which indicates a high return on the invested capital relative to its competitors. This strong ROE is testament to the company’s ability to generate value for its shareholders by efficiently using its resources.
– Dexterra Group Inc ($TSX:DXT)
Dexterra Group Inc is a Canadian company that specializes in providing enterprise mobility solutions and services to its clients. The company has a market cap of 335.95M as of 2022, which represents its current market value. Its Return on Equity (ROE) is 4.62%, which refers to the amount of net income earned compared to the company’s total equity. The company’s current ROE is lower than the industry average, indicating that it is creating less value for its shareholders than its peers. Overall, Dexterra Group Inc is a reliable provider of enterprise mobility solutions and services and its market cap and ROE can be taken as indicators of its stability and potential for growth.
Summary
Investors are likely to be pleased by ABM Industries‘ latest financial report for FY2023 Q3, which ended on July 31 2023. Revenue increased by 3.4% year-over-year, to USD 2028.2 million, and net income rose by 72.7%, at USD 98.1 million. This promising performance led to a significant drop in the company’s stock price the same day. While this could be an opportunity to invest in ABM Industries, investors should consider both the short-term and long-term benefits of such a decision before taking action.
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