Abm Industries Incorporated · NYSE:ABM
Abm Industries — Q4 2021 Earnings Presentation
21 slides from Abm Industries's earnings presentation, 2021
Slide 1: Fourth Quarter 2021 Review
@ ABM. Building Value Fourth Quarter 2021 Review
Slide 2: Fourth Quarter 2021 Review - Paul Goldberg, SVP Investor Relations
Fourth Quarter 2021 Review PAUL GOLDBERG SVP, Investor Relations
Slide 3: Forward Looking Statements
Forward Looking Statements This presentation contains both historical and forward-looking statements about ABM Industries Incorporated (“ABM”) and its subsidiaries (collectively referred to as “ABM,” “we,” “us,” “our,” or the “Company”). We make forward-looking statements related to future expectati
Slide 4: Use of Non-GAAP Financial Information
Use of Non-GAAP Financial Information To supplement ABM’s consolidated financial information, the Company has presented income from continuing operations and income from continuing operations per diluted share as adjusted for items impacting comparability, for the fourth quarter and twelve months of
Slide 5: Fourth Quarter 2021 Review - Scott Salmirs, CEO
Fourth Quarter 2021 Review SCOTT SALMIRS President & Chief Executive Officer
Slide 6: Fourth Quarter 2021 Review - Earl Ellis, CFO
Fourth Quarter 2021 Review EARL ELLIS Executive VP & Chief Financial Officer
Slide 7: Q4 FY21 Revenue
Fourth Quarter 2021 Review Q4 FY21 Revenue $1,695.7 $1,484.6 2020 2021
Slide 8: Q4 FY21 Income from Continuing Operations
Fourth Quarter 2021 Review Q4 FY21 Income from Q4 FY21 Adj. Income from Continuing Operations Continuing Operations1 $58.2 $53.1 $46.7 $34.3 2020 2021 2020 2021 1 Please refer to the appendix for a reconciliation of GAAP to non-GAAP measures.
Slide 9: Q4 FY21 Net Income and Adjusted EBITDA
Fourth Quarter 2021 Review Q4 FY21 Net Income Q4 FY21 Adj. EBITDA1 $111.2 $53.1 $92.5 $34.3 6.2% 6.6% margin margin 2020 2021 2020 2021 1 Please refer to the appendix for a reconciliation of GAAP to non-GAAP measures.
Slide 10: Fourth Quarter 2021 Segment Results
Fourth Quarter 2021 Segment Results Business • Revenues of $933.2m vs. $794.3m last year & Industry • Operating profit of $82.1m, operating margin of 8.8% Technology & • Revenues of $245.5m vs. $245.2m last year Manufacturing • Operating profit of $24.5m, operating margin of 10.0% • Revenues of $204
Slide 11: Capital Structure
Capital Structure
Slide 12: Select Cash Flow and Balance Sheet Items: Leverage
Select Cash Flow and Balance Sheet Items Leverage Drawdown Able Services** Revolver Paydown Revolver GCA* $1,600 4.50x $1,400 4.00x $1,200 8 Solutions 3.50x 3.00x Westway $1,000 2.50x $800 2.00x (in millions) $600 1.50x $400 1.00x $200 0.50x $0 0.00x Q2 16 Q3 16 Q4 16 Q1 16 Q2 17 Q3 17 Q4 17 Q1 17 Q
Slide 13: Select Cash Flow and Balance Sheet Items: Shareholder Return
(in millions) $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 Q1 FY Q2 16 FY $9.2 $11.3 Q3 16 FY $9.3 $10.2 Q4 16 FY $9.2 $9.7 Q1 16 FY $9.2 $15.4 Shareholder Return Q2 17 FY $9.4 $7.9 Q3 17 FY $9.5 Q4 17 FY $9.5 Q1 17 FY $11.1 Shares Repurchased Q2 18 FY $11.5 Q3 18 FY $11.5 Q4 18 FY $11.5 Select Cash Flow
Slide 14: Select Cash Flow and Balance Sheet Items: Annual Dividend
Select Cash Flow and Balance Sheet Items Annual Dividend $50.0 HISTORY OF CONSECUTIVE DIVIDEND SINCE 1965 $51.0 $49.3 $47.7 $46.0 $40.0 $39.5 $36.9 $36.0 $34.6 (in millions) $32.9 $30.0 $31.3 $29.7 $28.2 $26.7 $25.3 $23.8 $20.0 $21.6 $20.7 $19.5 $18.6 $17.7 $16.2 $14.5 $10.0 2000 2001 2002 2003 2004
Slide 15: Fiscal 2022 Outlook
Fiscal 2022 Outlook
Slide 16: Fiscal 2022 Outlook
Fiscal 2022 Outlook Metric Guidance GAAP Income from continuing operations per diluted share $2.05 - $2.30 Adjusted income from continuing operations per diluted share1 $3.30 - $3.55 2 Adjusted EBITDA Margin 6.2% to 6.6% Tax Rate (excluding WOTC and other discrete tax items) ̴ 30% 2022 Working Days
Slide 17: Appendix
Appendix
Slide 18: Unaudited Reconciliation of Non-GAAP Financial Measures
Unaudited Reconciliation of Non-GAAP Financial Measures (a) The Company adjusts income from continuing operations to exclude the impact of certain items that are unusual, non-recurring, or otherwise do not reflect management's views of the underlying operational results and trends of the Company. (i
Slide 19: Unaudited Reconciliation of Non-GAAP Financial Measures
Unaudited Reconciliation of Non-GAAP Financial Measures Three Months Ended October 31, Years Ended October 31, (in millions, except per share amounts) 2021 2020 2021 2020 Reconciliation of Net Income to Adjusted EBITDA Net income $ 34.3 $ 53.1 $ 126.3 $ 0.3 Items impacting comparability 31.1 (3.9) 1
Slide 20: Unaudited Reconciliation of Non-GAAP Financial Measures
Unaudited Reconciliation of Non-GAAP Financial Measures Three Months Ended October 31, Years Ended October 31, (in millions) 2021 2020 2021 2020 Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow Net cash provided by operating activities $ 55.6 $ 198.7 $ 314.3 $ 457.5 Addi
Slide 21: Unaudited Reconciliation of Non-GAAP Financial Measures
Unaudited Reconciliation of Non-GAAP Financial Measures 2022 Guidance Year Ending October 31, 2022 Reconciliation of Estimated Income from Continuing Operations per Diluted Share to Estimated Adjusted Income from Continuing Operations per Diluted Share Low Estimate High Estimate Income from continui