ABM Industries Gains After Reporting Q2 Earnings Growth; FY23 Outlook

(RTTNews) - ABM Industries Inc. (ABM) shares are gaining more than 6 percent on Tuesday morning trade after the company reported an increase in second-quarter earnings supported by revenue growth. The specialty business services provider also raised its full-year earnings projection.

The quarterly earnings were $51.9 or $0.78 per share compared to $48.8 or $0.72 per share last year.

Revenue for the quarter gained 4.5 percent to $1.98 billion from $1.89 billion in the prior year.

Looking ahead to the full year 2023, the company expects earnings in a range of $2.52 to $2.72 per share, up from previous expectations in a range of $2.43 - $2.63.

Currently, shares are at $48.33, up 6.68 percent from the previous close of $45.30 on a volume of 149,594.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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