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ABM ABM Industries

ABM Industries, Inc. engages in the provision of facility services for commercial, industrial, and institutional buildings. It operates through the following segments: Business & Industry, Aviation, Technology & Manufacturing, Education, and Technical Solutions. The Business & Industry segment encompasses janitorial, facilities engineering, and parking services for commercial real estate properties and sports and entertainment venues. It also provides vehicle maintenance services to rental car providers. The Aviation segment supports airlines and airports with parking and janitorial to passenger assistance, catering logistics, air cabin maintenance, and transportation. The Technology & Manufacturing segment provides janitorial, facilities engineering, and parking services. The Education segment delivers janitorial, custodial, landscaping & grounds, facilities engineering and parking services for public school districts, private schools, colleges and universities. The Technical Solutions segment engages in mechanical and electrical services. The company was founded by Morris Rosenberg in 1909 and is headquartered in New York, NY.

Company profile

Ticker
ABM
Exchange
Website
CEO
Scott Salmirs
Employees
Incorporated
Location
Fiscal year end
Former names
ABM INDUSTRIES INC, AMERICAN BUILDING MAINTENANCE INDUSTRIES INC
SEC CIK
IRS number
941369354

ABM stock data

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Calendar

10 Mar 21
17 Apr 21
31 Oct 21
Quarter (USD)
Jan 21 Oct 20 Jul 20 Apr 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Oct 20 Oct 19 Oct 18 Oct 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 378.3M 378.3M 378.3M 378.3M 378.3M 378.3M
Cash burn (monthly) 5.3M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 13.62M n/a n/a n/a n/a n/a
Cash remaining 364.68M n/a n/a n/a n/a n/a
Runway (months of cash) 68.8 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
29 Mar 21 Allen Quincy L Common Stock Grant Aquire A No No 0 2,287 0 2,287
12 Mar 21 Chavez Linda Common Stock Sell Dispose S No No 51.661 2,141 110.61K 13,736
12 Mar 21 Chavez Linda Common Stock Sell Dispose S No No 52.1942 289 15.08K 15,877
12 Mar 21 Chin Dean A Common Stock Sell Dispose S No No 50.6 2,861 144.77K 26,999
1 Feb 21 Golder Jill Common Stock Grant Aquire A No No 0 15 0 5,975

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

93.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 230 220 +4.5%
Opened positions 35 38 -7.9%
Closed positions 25 27 -7.4%
Increased positions 87 71 +22.5%
Reduced positions 64 71 -9.9%
13F shares
Current Prev Q Change
Total value 2.37B 2.24B +5.7%
Total shares 62.58M 61.1M +2.4%
Total puts 35K 47.3K -26.0%
Total calls 20.3K 82.2K -75.3%
Total put/call ratio 1.7 0.6 +199.6%
Largest owners
Shares Value Change
BLK Blackrock 10.29M $389.54M +4.2%
Vanguard 7.45M $282.02M +2.1%
STT State Street 5.56M $210.56M +2.6%
ArrowMark Colorado 5.53M $209.4M +2.5%
Dimensional Fund Advisors 4.24M $160.55M -1.8%
Victory Capital Management 1.87M $70.93M +17.3%
NTRS Northern Trust 1.84M $69.58M -1.7%
MCQEF Macquarie 1.8M $68.07M -4.5%
SAMG Silvercrest Asset Management 1.52M $57.68M -4.4%
Boston Partners 1.48M $56.01M -5.6%
Largest transactions
Shares Bought/sold Change
FMR 604.26K -1.53M -71.6%
Norges Bank 959.03K +959.03K NEW
BLK Blackrock 10.29M +415.54K +4.2%
Royce & Associates 0 -402.36K EXIT
Copeland Capital Management 812.54K +383.84K +89.5%
Vulcan Value Partners 1.23M +383.24K +45.4%
Victory Capital Management 1.87M +275.95K +17.3%
Vanguard 7.45M +153.84K +2.1%
Nuveen Asset Management 618.87K +149.56K +31.9%
Renaissance Technologies 266.48K +146.88K +122.8%

Financial report summary

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Competition
Newmark
Risks
  • The Pandemic has had and is expected to continue having a negative effect on the global economy and the United States economy; it has disrupted and is expected to continue disrupting our operations and our clients’ operations; and it has adversely affected and may continue to adversely affect our business, results of operations, cash flows, and financial condition.
  • Our success depends on our ability to gain profitable business despite competitive market pressures.
  • Our business success depends on our ability to attract and retain qualified personnel and senior management and to manage labor costs.
  • Our ability to preserve long-term client relationships is essential to our continued success.
  • Changes to our businesses, operating structure, financial reporting structure, or personnel relating to the implementation of strategic transformations, enhanced business processes, and technology initiatives may not have the desired effects on our financial condition and results of operations.
  • Acquisitions, divestitures, and other strategic transactions could fail to achieve financial or strategic objectives, disrupt our ongoing business, and adversely impact our results of operations.
  • Our international business involves risks different from those we face in the United States that could have an effect on our results of operations and financial condition.
  • Our use of subcontractors or joint venture partners to perform work under customer contracts exposes us to liability and financial risk.
  • We manage our insurable risks through a combination of third-party purchased policies and self-insurance, and we retain a substantial portion of the risk associated with expected losses under these programs, which exposes us to volatility associated with those risks, including the possibility that changes in estimates to our ultimate insurance loss reserves could result in material charges against our earnings.
  • Our risk management and safety programs may not have the intended effect of reducing our liability for personal injury or property loss.
  • We may experience breaches of, or disruptions to, our information technology systems or those of our third-party providers or clients, or other compromises of our data that could adversely affect our business.
  • Unfavorable developments in our class and representative actions and other lawsuits alleging various claims could cause us to incur substantial liabilities.
  • A significant number of our employees are covered by collective bargaining agreements that could expose us to potential liabilities in relation to our participation in multiemployer pension plans, requirements to make contributions to other benefit plans, and the potential for strikes, work slowdowns or similar activities, and union organizing drives.
  • Our business may be materially affected by changes to fiscal and tax policies. Negative or unexpected tax consequences could adversely affect our results of operations.
  • Changes in general economic conditions, such as changes in energy prices, government regulations, or consumer preferences, could reduce the demand for facility services and, as a result, reduce our earnings and adversely affect our financial condition.
  • Future increases in the level of our borrowings or in interest rates could affect our results of operations.
  • Impairment of goodwill and long-lived assets could have a material adverse effect on our financial condition and results of operations.
  • If we fail to maintain proper and effective internal control over financial reporting in the future, our ability to produce accurate and timely financial statements could be negatively impacted, which could harm our operating results and investor perceptions of our Company and as a result may have a material adverse effect on the value of our common stock.
  • Our business may be negatively impacted by adverse weather conditions.
  • Catastrophic events, disasters, and terrorist attacks could disrupt our services.
  • Actions of activist investors could disrupt our business.
Management Discussion
  • Revenues decreased by $120.5 million, or 7.5%, during the three months ended January 31, 2021, as compared to the three months ended January 31, 2020. This decrease was primarily due to the impact of Pandemic-related disruptions across our businesses. However, this decrease was partially offset by an increase in work orders, primarily as a result of the Pandemic, and the expansion of certain accounts and new business within B&I and T&M.
  • Operating expenses decreased by $184.3 million, or 12.9%, during the three months ended January 31, 2021, as compared to the three months ended January 31, 2020. Gross margin increased by 518 bps to 16.3% in the three months ended January 31, 2021 from 11.1% in the three months ended January 31, 2020. The increase in gross margin was primarily associated with the management of direct labor and related personnel costs during the Pandemic and an increase in work orders with higher margins as a result of the Pandemic (primarily within B&I and T&M). The increase in gross margin was also driven by self-insurance reserve adjustments. These benefits were partially offset by account compression resulting from Pandemic-related disruptions in certain markets.
  • Selling, general and administrative expenses increased by $5.0 million, or 4.2%, during the three months ended January 31, 2021, as compared to the three months ended January 31, 2020. The increase in selling, general and administrative expenses was primarily attributable to:
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