Company: ABM
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000771497-25-000022
Chunk: 8

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 2
Chunk 8
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 July 31, 2024, were 26.9% and 30.7%, respectively, resulting in provisions for taxes of $47.0 million and $41.3 million, respectively.

Our effective tax rate for the nine months ended July 31, 2025, benefited from discrete items, primarily from a return to provision adjustments related to our non-U. S. operations. Our effective tax rate for the nine months ended July 31, 2024, was impacted by discrete items, primarily from a change for uncertain tax positions, energy efficiency incentives, a return to provision adjustment related to our non-U. S. operations, a benefit for share-based compensation, and the non-taxable change in fair value of the contingent consideration related to the RavenVolt Acquisition.

Interest Rate Swaps

We had a loss of $5.7 million during the nine months ended July 31, 2025, as compared to a loss of $18.1 million during the nine months ended July 31, 2024, primarily due to underlying changes in the fair value of our interest rate swaps.

Foreign Currency Translation

We had a foreign currency translation gain of $5.2 million during the nine months ended July 31, 2025, as compared to a foreign currency translation gain of $6.4 million during the nine months ended July 31, 2024. This change was due to fluctuations in the exchange rate between the USD and the GBP. Future gains and losses on foreign currency translation will be dependent upon changes in the relative value of foreign currencies to the USD and the extent of our foreign assets and liabilities.

Segment Information

Financial Information for Each Reportable Segment

                                                                                                                Nine Months Ended July 31,                                                                                           
  (in millions)                                                                                                                       2025                      2024                   Increase / (Decrease)                         
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenues                                                                                                                                                                                                                           
  Business & Industry                                                                                                                    $      3,077.2            $      3,033.4      $                           43.8        1.4%  
  Manufacturing & Distribution                                                                                                                  1,201.2                   1,166.6      34.6                                    3.0%  
  Aviation                                                                                                                           822.0                     756.1                   65.9                                    8.7%  
  Education