Why ABM Industries Stock Is Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
ABM Industries Incorporated reported Q3 FY23 revenue growth of 3.4% Y/Y to $2.028 billion, beating the consensus of $2.01 billion. However, its adjusted EPS of $0.79 missed the consensus of $0.89. The company declared a cash dividend of $0.22 per common share and narrowed its FY23 adjusted EPS guidance range to $3.40-$3.50. ABM shares are trading lower by 5.02% premarket.
September 07, 2023 | 1:26 pm
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NEGATIVE IMPACT
ABM Industries reported a revenue beat but an EPS miss, leading to a premarket drop in its share price.
ABM Industries reported higher than expected revenues but lower than expected EPS. This mixed financial performance, along with the narrowing of its FY23 EPS guidance, likely contributed to the premarket drop in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100