ABM Increases FY18 Earnings Guidance - Quick Facts

(RTTNews) - ABM (ABM) announced, for fiscal 2018, the company now expects GAAP income from continuing operations of $1.88 to $1.98 per share compared to its previously issued guidance of $1.33 to $1.43. Excluding items impacting comparability, adjusted income from continuing operations is expected to be in the range of $2.00 to $2.10 per share for the 2018 fiscal year compared to its previously issued guidance range of $1.70 to $1.80. The company said its revised guidance outlook is primarily a result of the impact related to the U.S. Tax Cuts and Jobs Act.

For the first quarter of fiscal 2018, adjusted income from continuing operations was $17.4 million, or $0.26 per diluted share, compared to $21.5 million, or $0.38 per diluted share, prior year. Revenues were approximately $1.6 billion driven by the acquisition of GCA, and organic growth stemming from new domestic and international janitorial wins, janitorial and parking-related business expansions, and higher Work Order (tag) revenue within the Business & Industry segment.

The company also announced that the Board has declared a cash dividend of $0.175 per common share payable on May 7, 2018 to shareholders of record on April 5, 2018.