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Stock Market & Financial Investment News

News Breaks
September 3, 2013
19:02 EDTABMABM Industries sees FY13 adjusted EPS $1.45-$1.50 had seen $1.40-$1.50
Consensus $1.45.
News For ABM From The Last 14 Days
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September 2, 2015
18:19 EDTABMABM Industries announces $200M share repurchase program
The ABM board has authorized a $200M share repurchase program. The company intends to repurchase its common shares from time to time in open market purchases or privately negotiated transactions and may make all or part of the repurchases pursuant to Rule 10b5-1 plans.
18:18 EDTABMABM Industries narrows FY15 adjusted EPS view to $1.75-$1.80, consensus $1.80
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18:17 EDTABMABM Industries reports Q3 adjusted EPS 47c, consensus 49c
Reports Q3 revenue $1.35B, consensus $1.33B.
16:46 EDTABMABM Industries to explore strategic alternatives for Security business
ABM Industries also reviewed all service lines and internal investments to assess whether ABM is best positioned to continue to competitively offer value added services to customers over the long-term. As a result of this process, despite its strong underlying fundamentals, the company has determined that it will explore strategic alternatives for its Security business that may include a partnership, sale or other strategic transaction. ABM's review of strategic alternatives for its Security business is only in its beginning stages. As such, at this point, ABM cannot assess whether any particular strategic alternative for the Security business will be pursued or, if so, upon what terms and conditions or the timing thereof. ABM plans to further discuss its strategy and transformation initiative during its investor meeting at the end of October.
16:45 EDTABMABM Industries sees pre-tax restructuring charges of $45M-$60M in Q3
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16:42 EDTABMABM Industries approves strategy to drive long-term growth
ABM announced that its board has approved a comprehensive strategy and transformation initiative to drive long-term profitable growth and enhance shareholder value. The initiative will focus ABM on its core strengths and most profitable businesses, and align its business operations to deliver unique industry and client solutions. As previously announced in June, the company underwent a comprehensive strategic review with the assistance of the Boston Consulting Group to develop a long-term strategic plan for the business. As part of this process, ABM identified several key priorities designed to differentiate ABM in the marketplace, improve its margin profile and accelerate revenue growth. These priorities include: Growing by focusing on industries and solutions where ABM can distinguish itself on service and quality and drive profitable, margin-accretive growth. ABM will initially focus on key verticals where it has or can build a competitive advantage, including Business & Industry, Aviation, Healthcare, Education, and HighTech; Aligning business operations to better support specific industries and deliver excellence in client solutions, including a transition to an integrated end-market verticals focus, simplified organizational structure and a consolidation of certain shared services. The company expects the majority of the organizational changes to be in place by the end of Q2 of FY16; Implementing best practices in account management and labor management across the organization, as well as developing a more integrated approach for continuous improvement in its safety program, including driving initiatives to help reduce future insurance claim frequency and severity; Leveraging the company's scale to manage costs more efficiently and effectively, including supplier consolidation and process and procurement enhancement; Creating greater opportunities and career paths for ABM employees by further developing the company's talent management system capabilities; Announcing a $200M share repurchase program, a dividend consistent with current practice, and an increased focus on specific financial performance metrics.
14:50 EDTABMNotable companies reporting after market close
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