Abm Industries Incorporated · NYSE:ABM
Abm Industries — Q1 2009 Earnings Presentation
18 slides from Abm Industries's earnings presentation, Mar 3, 2009
Slide 1: First Quarter and Fiscal 2009 Earnings Conference Call
ABM Industries Incorporated First Quarter and Fiscal 2009 Earnings Conference Call March 3, 2009
Slide 2: Agenda
2 Agenda Introduction of call participants Henrik C. Slipsager, President & CEO James S. Lusk, EVP and CFO Sarah H. McConnell, SVP & General Counsel Q1 2009 Highlights Financial Review Operating Results 2009 Guidance
Slide 3: Forward-Looking Statements
3 Forward - Looking Statements Our presentation today contains predictions, estimates and other forward-looking statements. Our use of the words estimate, expect, and similar expressions is intended to identify these statements. These statements represent our current judgment on what the future hold
Slide 4: Statements Relating to Non-GAAP Financial Measures
4 Statements Relating to Non-GAAP Financial Measures During the course of this presentation, certain non-GAAP financial information will be presented. A reconciliation of those numbers to GAAP financial measures is available on the Company's website under "Investor Relations" and at the end of this
Slide 5: First Quarter Fiscal 2009 Highlights
5 First Quarter Fiscal 2009 Highlights Exceptional quarter. Strong growth in operating profit across all core businesses. Adjusted income from Continuing Operations up 63% Strong adjusted EBITDA growth of 27% on flat revenues Strict management of operating expenses Increasing operating synergies acr
Slide 6: Fiscal First Quarter 2009 Highlights
6 Fiscal First Quarter 2009 Highlights Revenues $887.5M Adjusted EBITDA $30.3M Increased 27% from Q1 08 Income from Continuing Operations $14.8M Adjusted $13.0M Increased $8.5M or 135% over Q1 08 Growth across all 4 core businesses Increased $5.0M or 63% over Q1 08 Diluted EPS from Continuing Operat
Slide 7: Strategic Initiatives
7 Strategic Initiatives Focused on aspects of business within our control Pricing and service, expenses, and generating free cash flow Proactive steps to mitigate pricing pressures on customer base Pricing and scope of service concessions Careful management of labor resources and expenses Reduction
Slide 8: Q1 Financial Results (unaudited)
8 Q1 Financial Results (unaudited) * Reconciliation of Adjusted EBITDA located at the back of this presentation and on ABM's website.
Slide 9: Strong Balance Sheet (unaudited)
9 Strong Balance Sheet (unaudited)
Slide 10: Segment Highlights: Janitorial
10 Segment Highlights: Janitorial Revenue (in $M) Operating Profit (in $M) First quarter 2009 revenue of $608.4 million, up $2.4 million or 0.4% compared to 2008 First quarter 2009 operating profit, up $11.4 million or 54.3% compared to 2008 Synergies from OneSource acquisition Improved operational
Slide 11: Segment Highlights: Parking
11 Segment Highlights: Parking Revenue (in $M) Q108 Q208 Q308 Q408 Q109 East 118 118.5 119.8 119 115.7 Operating Profit (in $M) Q108 Q208 Q308 Q408 Q109 Operating Profit 3.9 4.4 5.5 5.7 4.1 First quarter 2009 revenue down 2% to $115.7 million; excluding management reimbursement revenues, parking rev
Slide 12: Segment Highlights: Security
12 Segment Highlights: Security Revenue (in $M) Q108 Q208 Q308 Q408 Q109 East 80.9 82.3 85.3 84.9 85.6 Operating Profit (in $M) Q108 Q208 Q308 Q408 Q109 Operating Profit 1.4 1.5 2.1 2.8 1.8 First quarter 2009 revenue, up 5.7% to $85.6 million compared to 2008 Added new customers Continued service ex
Slide 13: Segment Highlights: Engineering
13 Segment Highlights: Engineering Revenue (in $M) Q108 Q208 Q308 Q408 Q109 East 81.8 79.3 79.6 79 77.2 Operating Profit (in $M) Q108 Q208 Q308 Q408 Q109 Operating Profit 3.5 4.3 5.5 5.8 4.7 First quarter 2009 revenue decreased 5.6% to $77.2 million compared to 2008 Lost business in Eastern and Mid-
Slide 14: Closing Observations
Closing Observations Strong relative performance in challenged economy Solid business fundamentals Ongoing actions to mitigate impact of deteriorating environment Well-positioned to benefit from size, scale and diversity of business operations Opportunity to gain new accounts and increase penetratio
Slide 15: Guidance
15 Continued challenging economic and market conditions ABM will continue to follow proven strategies of: Actively managing customer accounts Focusing on outsourcing trends as customers look for integrated solutions Guidance Increasing 1st half Income from Continuing Operations per diluted in the ra
Slide 16: Appendix - Reconciliation (unaudited)
16 Appendix - Reconciliation (unaudited)
Slide 17: Appendix - Reconciliation (unaudited)
17 Appendix - Reconciliation (unaudited)
Slide 18: Appendix - Reconciliation (unaudited)
17 Appendix - Reconciliation (unaudited)