Company: ABM
Filing Date: 2025-03-28
Form Type: CORRESP
Source: 0000771497-25-000008
Chunk: 0

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-03-28
Form: CORRESP
Chunk 0
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| One Liberty Plaza, 7thFloor 
 New York, N.Y. 10006        
 Office: (212) 297-0200      
 Fax: (212) 297-0375         |

March 28, 2025

VIA EDGAR

United States Securities and Exchange Commission

Division of Corporate Finance

Office of Trade & Services

100 F Street, NE

Washington, D.C. 20549

Attention: Ta Tanisha Meadows and Joel Parker

Re:

#### ABM Industries Incorporated

#### Form 10-K for Fiscal Year Ended October 31, 2024

#### Form 8-K Filed December 18, 2024

#### File No. 1-08929
Ladies and Gentlemen:

On behalf of ABM Industries Incorporated (referred to as “ABM,” “we,” “our,” or the “Company”), please find our response to the letter from the staff of the Securities and Exchange Commission (the “Staff”) dated March 6, 2025 with respect to the above-referenced filings. All references to years within this letter are to our fiscal year, which ends on October 31. To assist with your review, we have included the Staff’s comment in italics directly above our response.

Form 8-K Filed December 18, 2024

Exhibit 99.1

Reconciliations of Non-GAAP Financial Measures

1. We note your adjustment for "Prior year self-insurance adjustment" in arriving at Adjusted Net Income and Adjusted EBITDA. Please tell us how you concluded this adjustment does not represent an individually tailored accounting principle. Refer to Question 100.04 of the Non-GAAP Financial Measures Compliance and Disclosure Interpretations.

Response:

Background

The Company uses a combination of insured and self-insurance programs to cover workers’ compensation, general liability, automobile liability, property damage, and other insurable risks. Additionally, we are self-insured for certain employee medical and dental plans. As of October 31, 2024, we had gross insurance claim reserves totaling $619.4 million, which includes claims that occurred as early as 1988 through October 31, 2024.

We engage a professional third-party claims administrator to administer all claims. The administrator establishes an initial claim estimate that is used in the evaluation of our insurance reserves. Our claims management process is further augmented by ABM internal resources and other external resources and involves a comparison of actual trends to expected trends