Abm Industries Incorporated · NYSE:ABM
Abm Industries — Q4 2024 Earnings Presentation
16 slides from Abm Industries's earnings presentation, Dec 18, 2024
Slide 1: Fourth Quarter 2024 Earnings Presentation
Fourth Quarter 2024 Earnings Presentation December 18, 2024 1
Slide 2: Forward Looking Statements
Forward Looking Statements This press release 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 expectat
Slide 3: Use of Non-GAAP Financial Information
Use of Non-GAAP Financial Information To supplement ABM’s consolidated financial information, the Company has presented net income and net income per diluted share as adjusted for items impacting comparability for the fourth quarter and twelve months of fiscal years 2024 and 2023. These adjustments
Slide 4: Q4 2024 Review
Q4 2024 Review FINANCIAL RESULTS DEMAND ENVIRONMENT HIGHLIGHTS • Revenue of $2.2B • B & I’s Commercial real estate • ATS revenue up 35% in Q4 and ‒ 3.2% organic growth markets showing signs of 20% for FY 2024 improvement ‒ RavenVolt revenue up more • Net loss of $11.7M, largely than 2.5X for full ye
Slide 5: Q4 2024 Revenue
Q4 2024 Revenue SEGMENT GROWTH RATES 34.9%(1) $ in millions • Revenue increased 11.4% 0.1% 4% to $2.2B -0.9% • 3.2% organic -0.7% growth • Double-digit organic growth in Aviation and Technical Solutions • B&I remains resilient B&I I & (1) Comprised of 25.4% organic revenue growth and 9.5% revenue gr
Slide 6: Q4 2024 Profitability
Q4 2024 Profitability $ in millions • The decrease in net income and NET INCOME (LOSS)(1) EARNINGS PER SHARE(1) GAAP EPS largely reflect a $62.8 $66.2 $1.01 $59.7M adjustment to the fair $57.5 $0.96 $0.90 value of contingent consideration, unfavorable prior year self- insurance adjustments, and high
Slide 7: Q4 2024 Segment Performance
Q4 2024 Segment Performance BUSINESS & INDUSTRY AVIATION $ in millions $ in millions Revenue Operating Profit & Revenue Operating Profit & Margin Margin $276.5 $1,033.0 $1,025.7 $84.6 $18.6 $248.2 $72.0 11.4% $16.4 8.2% 6.7% -0.7% 6.6% 7.0% Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4
Slide 8: Q4 2024 Segment Performance
Q4 2024 Segment Performance MANUFACTURING & DISTRIBUTION EDUCATION TECHNICAL SOLUTIONS $ in millions $ in millions $ in millions Revenue Operating Profit Revenue Operating Profit Operating Profit Revenue Revenue $391.2 $387.7 & Margin & Margin & Margin $229.8 $230.0 $13.1 $257.4 $190.8 $42.0 $40.4 9
Slide 9: Leverage & Shareholder Returns
Q4 2024 Leverage & Shareholder Returns $ in millions $ in millions $1,600 LEVERAGE 4.0x $150 SHAREHOLDER RETURNS $120 $1,200 3.0x $110.0 $90 $800 2.0x $60 $400 1.0x $30 $27.1 $32.0 $23.8 $14.4 $14.5 $14.5 $14.0 $14.1 $14.1 $14.1 $14.1 $0 0.0x $0 Total Indebtedness (Incl. LCs) Leverage Ratio Shares R
Slide 10: Fiscal 2025 – Initial Outlook
Fiscal 2025 – Initial Outlook Initial Metric Outlook Adjusted net income per diluted share (1) $3.60 - $3.80 Adjusted EBITDA Margin(1) 6.3% - 6.5% Tax rate (excl. discrete tax items and impact of non-taxable items) 29% - 30% Interest expense $76M - $80M 2025 Working Days Quarter Q1 Q2 Q3 Q4 Days 66
Slide 11: Appendix
Appendix 11
Slide 12: Unaudited Reconciliation of Non-GAAP Financial Measures
Unaudited Reconciliation of Non-GAAP Financial Measures $ in millions Three Months Ended October 31, Year Ended October 31, 2024 2023 2024 2023 Reconciliation of Net (loss) Income to Adjusted Net Income Net (loss) income $ (11.7) $ 62.8 $ 81.4 $ 251.3 Items impacting comparability(a) Prior year self
Slide 13: Reconciliation of Non-GAAP Financial Measures - Footnotes
Unaudited Reconciliation of Non-GAAP Financial Measures - Footnotes (a) The Company adjusts net income 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. (b) Represent
Slide 14: Unaudited Reconciliation of Non-GAAP Financial Measures
Unaudited Reconciliation of Non-GAAP Financial Measures $ in millions. except per share amounts Three Months Ended October 31, Year Ended October 31, 2024 2023 2024 2023 Reconciliation of Net (loss) Income to Adjusted EBITDA Net (loss) income $ (11.7) $ 62.8 $ 81.4 $ 251.3 Items impacting comparabil
Slide 15: Unaudited Reconciliation of Non-GAAP Financial Measures
Unaudited Reconciliation of Non-GAAP Financial Measures $ in millions Three Months Ended October 31, Years Ended October 31, 2024 2023 2024 2023 Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow Net cash provided by operating activities (a) $ 30.3 $ 139.1 $ 226.7 $ 243.3
Slide 16: Thank You
Thank You INVESTOR RELATIONS Paul Goldberg SVP – Investor Relations ir@abm.com 212-297-9721 16