ABM Industries raised its fiscal 2026 adjusted earnings outlook to $3.95-$4.10 per share from $3.85-$4.15, lifting the midpoint, after reporting better-than-expected third-quarter results. The company posted adjusted earnings of $1.04 per share, up 27% year over year and ahead of the Zacks Consensus Estimate of $1.01, while revenues rose 4.2% to $2.32 billion, beating the consensus mark of $2.30 billion. Growth was led by the M&D segment, where revenues climbed 17.6% to $481 million, and Aviation, where revenues rose 12.5% to $328.1 million on healthy travel demand and the continued ramp of the Heathrow Airport contract. Semiconductor, microgrid and data center-related revenues reached nearly $775 million through nine months, rising 26% organically, and management said the WGNSTAR acquisition is tracking well above its earlier $120-$130 million annualized revenue expectation. ABM also lifted its full-year operating cash flow expectation to about $300 million and free cash flow to about $210 million, up $25 million from the prior free cash flow outlook, with leverage improving to 2.9X from 3.2X in the previous quarter.
ABM Industries IncorporatedABM raised its fiscal 2026 adjusted earnings outlook and posted Q3 EPS/revenue beats with improved cash flow and leverage.
