ABM Industries (NYSE:ABM) reported a fiscal fourth-quarter net income of $34.8 million, or 56 cents per share, recovering from a loss in the same period last year.
However, the company’s adjusted earnings, which exclude restructuring costs and expenses related to mergers and acquisitions, were 88 cents per share, missing Wall Street expectations.
Analysts had forecasted earnings of $1.10 per share, according to Zacks Investment Research.
Revenue for the quarter reached $2.3 billion, surpassing analyst expectations of $2.27 billion, signaling strong demand for ABM’s cleaning and maintenance services for commercial buildings, hospitals, and airports.
For the full fiscal year, ABM reported a profit of $162.4 million, or $2.59 per share, on revenue of $8.75 billion.
Looking ahead, ABM has raised its full-year earnings guidance to a range of $3.85 to $4.15 per share, reflecting optimism about continued growth in its service sectors and improving operational efficiency.