Company: ABM
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0000771497-25-000014
Chunk: 1

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 2
Chunk 1
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  M& D provides integrated facility services, engineering, janitorial and maintenance, and other specialized solutions to a variety of manufacturing, distribution, and data center facilities. We ...  
  Aviation provides comprehensive support services to airlines and airports, including parking and transportation management, janitorial and maintenance services, passenger assistance, catering l...  
  Education delivers comprehensive facility services to public school districts, private schools, colleges, and universities. Our services include janitorial and custodial services, landscaping a...  
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  Technical Solutions specializes in comprehensive facility infrastructure services, including mechanical and electrical systems, EV charging station design, installation, and maintenance, as wel...  

Key Financial Highlights

• Revenues increased by $93.5 million, or 4.6%, to $2,111.7 million during the three months ended April 30, 2025, as compared to the prior year period. Revenue growth was comprised of organic growth of 3.7% and acquisition growth of 0.8%. The organic revenue growth was due to higher project revenues due to the higher microgrid projects within Technical Solutions and net new business and expansion of business with existing customers within B& I, Aviation, M& D, and Education. The increase in revenues was partially offset by a loss of a certain customer within M& D in the first quarter of 2025. Acquisition growth was driven by a $16.6 million revenue increase from the Quality Uptime Acquisition, which was completed in June 2024.

• We had an increase in operating profit of $1.0 million, to $82.3 million, during the three months ended April 30, 2025, as compared to the prior year period. The increase was primarily attributed to:

◦ respective revenue increases, contract and service mix, and operational efficiencies; and

◦ an absence of a $4.3 million unfavorable self-insurance reserve adjustment related to prior year claims from actuarial evaluations completed in the three months ended April 30, 2024.

The increase was partially offset by:

◦ base wage increases within Aviation and Education.

• Our effective tax rates from income on operations for the three months ended April 30, 2025, and April 30, 2024, were 29.4% and 29.9%, respectively, and were not impacted by any