Company profile

Ticker
ABM
Exchange
Website
CEO
Scott Salmirs
Employees
Incorporated in
Location
Fiscal year end
Former names
Abm Industries Inc, American Building Maintenance Industries Inc
SEC CIK
IRS number
941369354

ABM stock data

(
)

Calendar

18 Jun 20
7 Jul 20
31 Oct 20

News

Company financial data Financial data

Quarter (USD) Apr 20 Jan 20 Oct 19 Jul 19
Revenue 1.5B 1.61B 1.65B 1.65B
Net income -136.8M 28M 47.9M 36.8M
Diluted EPS -2.05 0.42 0.71 0.55
Net profit margin -9.14% 1.74% 2.91% 2.23%
Operating income -116.7M 45.8M 66.2M 57.3M
Net change in cash 486.1M 11.3M -2M 6.8M
Cash on hand 555.9M 69.8M 58.5M 60.5M
Cost of revenue 1.31B 1.43B 1.45B 1.45B
Annual (USD) Oct 19 Oct 18 Oct 17 Oct 16
Revenue 6.5B 6.44B 5.45B 5.14B
Net income 127.4M 97.8M 3.8M 57.2M
Diluted EPS 1.9 1.47 0.07 1.01
Net profit margin 1.96% 1.52% 0.07% 1.11%
Operating income 208.3M 138.6M 101.9M 54.7M
Net change in cash 19.4M -23.7M 9.3M -2M
Cash on hand 58.5M 39.1M 62.8M 53.5M
Cost of revenue 5.77B 5.75B 4.88B 4.6B

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
19 Jun 20 Jacobsen Rene Common Stock Sell Dispose S Yes 39.43 716 28.23K 28,976
11 Jun 20 Block Andrew D. Common Stock Payment of exercise Dispose F No 31.46 1,661 52.26K 12,518
8 Jun 20 Jacobsen Rene Common Stock Sell Dispose S Yes 37 2,148 79.48K 29,692
4 May 20 Chavez Linda Common Stock Grant Aquire A No 0 64 0 16,828
4 May 20 Baker Leighanne G Common Stock Grant Aquire A No 0 18 0 6,558
95.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 195 212 -8.0%
Opened positions 28 29 -3.4%
Closed positions 45 32 +40.6%
Increased positions 70 70
Reduced positions 65 73 -11.0%
13F shares
Current Prev Q Change
Total value 1.55B 2.51B -38.3%
Total shares 63.54M 66.51M -4.5%
Total puts 20.2K 15.7K +28.7%
Total calls 104.4K 15.6K +569.2%
Total put/call ratio 0.2 1.0 -80.8%
Largest owners
Shares Value Change
BLK BlackRock 10.11M $246.2M -2.1%
Vanguard 7.98M $194.39M +2.8%
ArrowMark Colorado 5.64M $137.34M +2.3%
STT State Street 5.58M $135.86M -10.3%
Dimensional Fund Advisors 4.28M $104.17M -0.3%
FMR 4.2M $102.25M -17.2%
Boston Partners 1.97M $47.85M +18.5%
NTRS Northern Trust 1.89M $45.94M +0.4%
MCQEF Macquarie 1.75M $42.74M +8.4%
Victory Capital Management 1.44M $35.11M +24.0%
Largest transactions
Shares Bought/sold Change
Capital World Investors 0 -1.3M EXIT
FMR 4.2M -871.23K -17.2%
BEN Franklin Resources 52.28K -861.47K -94.3%
Norges Bank 0 -680.56K EXIT
STT State Street 5.58M -641.47K -10.3%
Millennium Management 310.09K +310.09K NEW
Boston Partners 1.97M +307.74K +18.5%
MNGPF Man 0 -302.6K EXIT
Victory Capital Management 1.44M +278.49K +24.0%
SAMG Silvercrest Asset Management 1.2M +243.67K +25.6%

Financial report summary

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Competition
Newmark
Risks
  • 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.
  • 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 adjustments 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.
  • 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 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 relationship 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 $98.7 million, or 6.2%, during the three months ended April 30, 2020, as compared to the three months ended April 30, 2019. This decrease was primarily due to the impact of Pandemic-related shutdowns across our segments, particularly within Aviation, Technical Solutions, and Education. However, this decrease was partially offset by a significant increase in tag services (including Pandemic-related tag services, primarily within B&I, T&M, and Education) and the expansion of certain accounts within B&I and T&M.
  • Operating expenses decreased by $108.1 million, or 7.6%, during the three months ended April 30, 2020, as compared to the three months ended April 30, 2019. Gross margin increased by 137 bps to 12.7% in the three months ended April 30, 2020 from 11.3% in the three months ended April 30, 2019. The increase in gross margin was primarily associated with higher margins on tag services (primarily within B&I, T&M, and Education), the loss of certain lower margin accounts within B&I and Aviation, and the management of direct labor and related personnel costs during the Pandemic. The increase was partially offset by operational pressures resulting from the Pandemic.
  • Selling, general and administrative expenses increased by $11.0 million, or 10.1%, during the three months ended April 30, 2020, as compared to the three months ended April 30, 2019. The increase in selling, general and administrative expenses was primarily attributable to:
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