ABM Profit Misses Estimate; Provides Weak FY15 Guidance

(RTTNews) - Facility services provider ABM Industries Inc (ABM) Monday reported a more than 15% increase in fourth-quarter net earnings to $27.9 million or $0.49 per share from $24.2 million or $0.43 per share last year.

Excluding items, adjusted earnings for the quarter were $0.52 per share compared with $0.48 per share a year ago.

Revenues for the quarter were up 5% at $1.3 billion compared with $1.24 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.58 per share on revenues of $1.3 billion for the quarter. Analysts' estimates typically exclude special items.

Revenue growth was seen across all segments, excepting facility services and security, the company said.

For the full year 2015, the company expects adjusted earnings of $1.65 to $1.75 per share, while analysts expect $1.80 per share.

ABM declared a first quarter cash dividend of $0.16 per common share.

ABM closed Monday at $27.04, down $0.28 or 1.02%, on a volume of 158k shares on the NYSE.