* Not meaningful (due to variance greater than or equal to +/-100%) The goodwill portion of the impairment charge is nondeductible for tax purposes.Ģ The year ended Octoincludes the deferral of approximately $101 million of payroll taxes provided by the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). Net cash provided by operating activities of continuing operations 2ġ The year ended Octoincludes pre-tax non-cash goodwill and intangible impairment charge of $172.8 million or $2.54 per diluted share. Income from continuing operations per diluted share 1Īdjusted income from continuing operationsĪdjusted income from continuing operations per diluted share ($ in millions, except per share amounts) The strength of our market positioning, as well as our liquidity, has enabled us to navigate the risks and opportunities of the pandemic confidently.” In 2020, our 6.0% adjusted EBITDA margin accelerated us to our longer term target range and we generated record cash flow. Pandemic-related work orders and labor management continued to drive solid profit growth. Salmirs continued, "Our fourth quarter revenue improved sequentially compared to the third quarter underscoring the resilience of our business model. We will address our clients' needs as they manage through various stages of the pandemic and recovery." We will continue to leverage the heightened awareness for virus protection and operational excellence, including our EnhancedClean offering. I could not be prouder of our teams for their incredible commitment to the health and safety of our employees and clients as we navigated an ever-evolving operating environment. Scott Salmirs, President and Chief Executive Officer of ABM Industries commented, “Fiscal 2020 was a pivotal year for ABM as the COVID-19 pandemic created a historic shift in the demand for our essential services. ![]() 16, 2020 (GLOBE NEWSWIRE) - ABM (NYSE: ABM), a leading provider of facility solutions, today announced financial results for the fourth quarter and full year that ended October 31, 2020. Record Quarterly Cash Flow from Continuing Operations of Approximately $200 Millionįirst Quarter Guidance Outlook Issued for Fiscal 2021 Resilient Operational and Financial Performance Continuesįourth Quarter GAAP Continuing EPS of $0.78 Adjusted Continuing EPS of $0.69
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