secwatch.observer — SEC 8-K summary
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Issuer:     ABM INDUSTRIES INC /DE/ (ABM)
CIK:        0000771497
Form:       8-K
Filed at:   2023-09-07T23:59:59+00:00
Accession:  0000950170-23-046875
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ABM Q3 revenue up 3.4% to $2.0B; adjusted EPS $0.79, down from $0.94 YoY
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- GAAP net income $98.1M ($1.47 EPS) vs $56.8M ($0.85) prior year, aided by $37.2M RavenVolt contingency gain and $22.4M ERC.
- Adjusted EPS $0.79 vs $0.94; adjusted EBITDA $125.3M essentially flat YoY; higher interest expense and softer commercial real estate weighted.
- Aviation organic revenue +17%, Manufacturing & Distribution +7%, Education +6%; Business & Industry organic -1%, Technical Solutions organic -6%.
- Quarterly dividend of $0.22 per share declared, payable Nov 6, 2023 to holders of record Oct 5, 2023.
- Full-year 2023 adjusted EPS guidance tightened to lower end of prior range; adjusted EBITDA margin reaffirmed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/771497/000095017023046875/0000950170-23-046875-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/771497/000095017023046875/abm-20230907.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-046875

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