Company: ABM
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0000771497-25-000014
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Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 2
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ITEM 2. MANAGEMENT’ S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations (“ MD& A”) is intended to facilitate an understanding of the results of operations and financial condition of ABM. This MD& A is provided as a supplement to, and should be read in conjunction with, our Financial Statements and our Annual Report on Form 10-K for the year ended October 31, 2024, which has been filed with the SEC. This MD& A contains forward-looking statements about our business, operations, and industry that involve risks and uncertainties, such as statements regarding our plans, objectives, expectations, and intentions. Our future results and financial condition may be materially different from those we currently anticipate. See “ Forward-Looking Statements” for more information.

Throughout the MD& A, amounts and percentages may not recalculate due to rounding. Unless otherwise indicated, all information in the MD& A and references to years are based on our fiscal years, which end on October 31.

Business Overview

ABM is a leading provider of integrated facility solutions, customized by industry, with a mission to make a difference, every person, every day.

ELEVATE Strategy

In December 2021, we announced our multiyear strategic plan called ELEVATE. TheELEVATE strategy is designed to strengthen our industry leadership position through end-market repositioning and build on our core services, which we expect will drive significant long-term value for our stakeholders.

We will continue to make significant investments over the life of the program, which are expected to total $200 - $215 million, and we will continue to implement various measures with the aim to ELEVATE:

• the client experience, by serving as a trusted advisor who can provide innovative multiservice solutions and consistent service delivery;

• the team member experience, by investing in workforce management, training, developing the next generation of ABM leaders, and building on our inclusive culture; and

• our use of technology and data to power client and employee experiences with cutting-edge data and analytics, processes, and tools that will fundamentally change how we operate our business.

Segment Reporting

Our current reportable segments consist of B& I, M& D, Aviation, Education, and Technical Solutions, as further described below.

  B& I, our largest reportable segment, encompasses comprehensive facility solutions, including janitorial and maintenance, facilities engineering, and parking and transportation management to a ...