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Why ABM Industries Shares Are Trading Lower

ABM Industries Incorporated (NYSE: ABM) shares are trading lower after the company reported second-quarter earnings results.

Benzinga · 06/09/2022 11:40

ABM Industries Incorporated (NYSE:ABM) shares are trading lower after the company reported second-quarter earnings results.

ABM Industries reported quarterly earnings of $0.89 per share which beat the analyst consensus estimate of $0.84 and sales results of $1.90 billion which beat the analyst consensus estimate of $1.88 billion.

The company also reported, as anticipated, the company's revenue mix reflected a decrease in disinfection-related work orders and EnhancedClean business versus the prior year period. 

Scott Salmirs, ABM's President and Chief Executive Officer commented, "ABM posted strong results in the second quarter, continuing the momentum we saw at the start of the year. I am particularly pleased with our organic growth of 7.5%, which was driven by solid demand across Business & Industry, Aviation, Manufacturing & Distribution, and Technical Solutions, especially in our eMobility business..”

ABM Industries is a provider of integrated facility solutions. It offers its solutions through five segments: business and industry, aviation, technology and manufacturing, education, and technical solutions.

ABM Industries Incorporated. shares were trading about 10.3% lower at $44.17 per share on Thursday at the time of publication.