$ABM
ABM INDUSTRIES INC /DE/

2022 Q2 Form 10-Q Financial Statement

#000077149722000013 Filed on June 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q4 2021 Q2
Revenue $1.898B $1.696B $1.497B
YoY Change 26.74% 14.21% 0.09%
Cost Of Revenue $1.648B $1.446B $1.275B
YoY Change 29.33% 17.86% -2.42%
Gross Profit $249.5M $249.4M $222.9M
YoY Change 11.93% 2.89% 17.38%
Gross Profit Margin 13.15% 14.71% 14.89%
Selling, General & Admin $156.8M $180.9M $161.9M
YoY Change -3.15% 6.22% 35.59%
% of Gross Profit 62.85% 72.53% 72.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.40M $23.70M $22.00M
YoY Change 24.55% 2.16% -10.93%
% of Gross Profit 10.98% 9.5% 9.87%
Operating Expenses $156.8M $193.7M $161.9M
YoY Change -3.15% 6.37% 35.59%
Operating Profit $75.00M $55.70M $50.30M
YoY Change 49.11% -7.63% -143.1%
Interest Expense $7.800M -$5.300M $7.800M
YoY Change 0.0% -46.46% -25.71%
% of Operating Profit 10.4% -9.52% 15.51%
Other Income/Expense, Net $100.0K
YoY Change 0.0%
Pretax Income $67.80M $50.40M $42.80M
YoY Change 58.41% -20.0% -133.91%
Income Tax $19.00M $16.10M $11.70M
% Of Pretax Income 28.02% 31.94% 27.34%
Net Earnings $48.80M $34.30M $31.10M
YoY Change 56.91% -35.4% -122.73%
Net Earnings / Revenue 2.57% 2.02% 2.08%
Basic Earnings Per Share $0.73 $0.46
Diluted Earnings Per Share $0.72 $500.0K $0.46
COMMON SHARES
Basic Shares Outstanding 67.20M shares 67.32M shares 67.30M shares
Diluted Shares Outstanding 67.50M shares 67.80M shares

Balance Sheet

Concept 2022 Q2 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.90M $62.80M $435.7M
YoY Change -88.78% -84.07% -21.62%
Cash & Equivalents $48.90M $62.80M $435.7M
Short-Term Investments
Other Short-Term Assets $64.00M $60.00M $58.50M
YoY Change 9.4% 7.33% -8.88%
Inventory
Prepaid Expenses $98.20M $88.70M $88.80M
Receivables $1.297B $1.190B $916.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.508B $1.401B $1.499B
YoY Change 0.61% -2.82% -12.59%
LONG-TERM ASSETS
Property, Plant & Equipment $106.9M $111.9M $124.3M
YoY Change -14.0% -16.31% -11.78%
Goodwill $2.292B $2.229B $1.676B
YoY Change 36.81% 33.36% 0.37%
Intangibles
YoY Change
Long-Term Investments $15.80M $11.70M $12.40M
YoY Change 27.42% 6.36% 16.98%
Other Assets $148.2M $131.2M $119.2M
YoY Change 24.33% -3.6% -1.97%
Total Long-Term Assets $3.078B $3.035B $2.293B
YoY Change 34.24% 29.98% -3.01%
TOTAL ASSETS
Total Short-Term Assets $1.508B $1.401B $1.499B
Total Long-Term Assets $3.078B $3.035B $2.293B
Total Assets $4.586B $4.436B $3.792B
YoY Change 20.95% 17.46% -7.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $263.3M $289.4M $222.9M
YoY Change 18.12% 5.89% -10.63%
Accrued Expenses $587.5M $723.2M $477.2M
YoY Change 23.11% 82.3% 25.98%
Deferred Revenue $72.00M $58.50M $47.60M
YoY Change 51.26% 60.71% 37.57%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $181.5M $31.40M $117.0M
YoY Change 55.13% -73.09% 33.87%
Total Short-Term Liabilities $1.281B $1.286B $1.064B
YoY Change 20.32% 30.29% 13.09%
LONG-TERM LIABILITIES
Long-Term Debt $986.6M $852.8M $524.2M
YoY Change 88.21% 41.43% -52.59%
Other Long-Term Liabilities $59.50M $123.5M $110.5M
YoY Change -46.15% -26.53% 42.58%
Total Long-Term Liabilities $1.046B $976.3M $634.7M
YoY Change 64.82% 26.61% -46.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.281B $1.286B $1.064B
Total Long-Term Liabilities $1.046B $976.3M $634.7M
Total Liabilities $2.917B $2.827B $2.192B
YoY Change 33.05% 24.18% -18.32%
SHAREHOLDERS EQUITY
Retained Earnings $977.7M $880.2M $885.6M
YoY Change 10.4% 9.15% 22.61%
Common Stock $717.1M $751.6M $737.8M
YoY Change -2.81% 3.7% 4.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.670B $1.609B $1.600B
YoY Change
Total Liabilities & Shareholders Equity $4.586B $4.436B $3.792B
YoY Change 20.95% 17.46% -7.04%

Cashflow Statement

Concept 2022 Q2 2021 Q4 2021 Q2
OPERATING ACTIVITIES
Net Income $48.80M $34.30M $31.10M
YoY Change 56.91% -35.4% -122.73%
Depreciation, Depletion And Amortization $27.40M $23.70M $22.00M
YoY Change 24.55% 2.16% -10.93%
Cash From Operating Activities -$44.00M $55.50M $126.0M
YoY Change -134.92% -72.07% -22.37%
INVESTING ACTIVITIES
Capital Expenditures -$10.00M -$11.00M -$8.300M
YoY Change 20.48% 20.88% 9.21%
Acquisitions
YoY Change
Other Investing Activities -$53.10M -$707.8M $100.0K
YoY Change -53200.0% 235833.33% -83.33%
Cash From Investing Activities -$63.10M -$718.8M -$8.200M
YoY Change 669.51% 7546.81% 17.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 110.9M 221.1M -60.70M
YoY Change -282.7% -950.38% -118.48%
NET CHANGE
Cash From Operating Activities -44.00M 55.50M 126.0M
Cash From Investing Activities -63.10M -718.8M -8.200M
Cash From Financing Activities 110.9M 221.1M -60.70M
Net Change In Cash 3.800M -442.2M 57.10M
YoY Change -93.35% -370.79% -88.2%
FREE CASH FLOW
Cash From Operating Activities -$44.00M $55.50M $126.0M
Capital Expenditures -$10.00M -$11.00M -$8.300M
Free Cash Flow -$34.00M $66.50M $134.3M
YoY Change -125.32% -68.0% -20.95%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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EntityCentralIndexKey
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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--10-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Fiscal Period Focus
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dei Amendment Flag
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dei Document Type
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dei Document Quarterly Report
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dei Document Period End Date
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2022-04-30
dei Document Transition Report
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
ABM INDUSTRIES INC
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
94-1369354
dei Entity Address Address Line1
EntityAddressAddressLine1
One Liberty Plaza
dei Entity Address Address Line2
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7th Floor
dei Entity Address City Or Town
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New York
dei Entity Address State Or Province
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dei City Area Code
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dei Local Phone Number
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297-0200
dei Security12b Title
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Common Stock, $0.01 par value
dei Trading Symbol
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dei Security Exchange Name
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us-gaap Nature Of Operations
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THE COMPANY AND NATURE OF OPERATIONS <div style="margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ABM is a leading provider of integrated facility services with a mission to make a difference, every person, every day. We are organized into four industry groups and one Technical Solutions segment: </span></div><div style="margin-top:9pt;text-align:center"><img alt="abm-20220430_g3.jpg" src="abm-20220430_g3.jpg" style="height:110px;margin-bottom:5pt;vertical-align:text-bottom;width:582px"/></div>Through these groups, we offer janitorial, facilities engineering, parking, and specialized mechanical and electrical technical solutions, on a standalone basis or in combination with other services.
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