ABM Industries told investors on September 8 that nine-month free cash flow reached $199.6 million, up from $42.4 million a year earlier, prompting management to raise its full-year reported free cash flow outlook to $210 million and its normalized figure to $285 million. Adjusted EPS climbed 27% to $1.04, and the company hit its target leverage ratio of below 3 times a full quarter ahead of schedule. Semiconductor, microgrid, and data center work generated nearly $775 million in revenue over nine months, now more than 11% of the total, with semiconductor organic growth alone running 65%, while aviation revenue grew 12% to $328.1 million and manufacturing and distribution revenue rose 18% to $481 million. Not every segment cooperated: Business and Industry revenue fell 2.6% on a large UK client exit and soft Northern California commercial real estate, aviation operating margin slipped to 5.6% from 6.8%, and Technical Solutions revenue rose just 4% after $15 million in project deferrals. Hedge fund ownership fell from 28 funds to 21, short interest sits at 5.45% of float, and the stock trades at a forward price-to-earnings ratio of just 9.13 as of September 11.
ABM Industries IncorporatedABM raised full-year free cash flow guidance to $210M and posted 27% adjusted EPS growth with leverage target hit early.
Harbin Electric