Quarterly ResultJun 5, 2026, 06:59 AM
ABM Industries Q2 Revenue Hits Record $2.3B; Net Income Up 2.1%
AI Summary
ABM Industries reported a record second quarter with revenue up 8.4% to $2.3 billion, driven by strong organic growth and acquisitions. Net income increased slightly to $43.1 million, or $0.73 per diluted share. The company highlighted record first-half new sales bookings of $1.2 billion and improved operating and free cash flow. ABM reaffirmed its fiscal 2026 outlook, expecting revenue growth towards the higher end of its previously stated range.
Key Highlights
- Revenue increased 8.4% to a record $2.3 billion, with 6.1% organic growth and 2.3% from acquisitions.
- Net income rose 2.1% to $43.1 million ($0.73/share), compared to $42.2 million ($0.67/share) in the prior year.
- Adjusted net income was $52.9 million ($0.90/share), versus $54.1 million ($0.86/share) in the prior year.
- Adjusted EBITDA increased to $131.7 million from $125.9 million last year.
- Operating cash flow was $66.2 million, and free cash flow totaled $22.4 million, both significantly above the prior year.
- Technical Solutions (ATS) revenue grew 27%, and Aviation revenue grew 20%.
- The company declared a quarterly cash dividend of $0.29 per common share.
- ABM reaffirms fiscal 2026 outlook, expecting organic revenue growth toward the top end of the 3%-4% range.