ABM Industries Reports Mixed Q2 Results, CEO Optimistic About Future Margins
Portfolio Pulse from Akanksha Bakshi
ABM Industries Inc. (NYSE:ABM) reported mixed Q2 2024 results with a slight sales growth and a decline in operating profit. Despite the mixed results, the company raised its adjusted EPS outlook and shares are trading higher.
June 06, 2024 | 2:46 pm
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ABM Industries reported mixed Q2 2024 results with a 1.7% YoY sales growth to $2.02 billion, beating the consensus. However, operating profit declined by 12.3% YoY. Despite this, the company raised its adjusted EPS outlook and shares are trading higher.
The mixed Q2 results show a slight sales growth but a decline in operating profit. However, the raised adjusted EPS outlook and the positive premarket trading indicate investor optimism, likely leading to a short-term price increase.
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