2017 Q3 Form 10-Q Financial Statement

#000162828017009141 Filed on September 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q4 2016 Q3
Revenue $1.318B $1.322B $1.297B
YoY Change 1.66% 3.55% 3.76%
Cost Of Revenue $1.185B $1.178B $1.161B
YoY Change 2.0% 37.22% 0.43%
Gross Profit $134.0M $149.0M $135.6M
YoY Change -1.18% 0.07% 44.87%
Gross Profit Margin 10.16% 11.27% 10.46%
Selling, General & Admin $101.3M $95.00M $108.0M
YoY Change -6.2% 0.74% 16.38%
% of Gross Profit 75.6% 63.76% 79.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.90M $14.40M $13.90M
YoY Change 7.19% 3.6% -6.08%
% of Gross Profit 11.12% 9.66% 10.25%
Operating Expenses $101.3M $101.2M $108.0M
YoY Change -6.2% 1.2% 16.38%
Operating Profit $22.60M $47.80M $18.50M
YoY Change 22.16% -2.25% -343.42%
Interest Expense $2.800M -$400.0K $2.600M
YoY Change 7.69% -500.0% 8.33%
% of Operating Profit 12.39% -0.84% 14.05%
Other Income/Expense, Net
YoY Change
Pretax Income $21.00M $10.30M $18.00M
YoY Change 16.67% -66.77% -343.24%
Income Tax -$11.90M $1.300M -$14.90M
% Of Pretax Income -56.67% 12.62% -82.78%
Net Earnings $32.90M $7.800M $31.10M
YoY Change 5.79% -79.9% 1973.33%
Net Earnings / Revenue 2.5% 0.59% 2.4%
Basic Earnings Per Share $0.59 $0.14 $0.55
Diluted Earnings Per Share $0.58 $0.14 $0.55
COMMON SHARES
Basic Shares Outstanding 56.10M shares 55.56M shares 56.20M shares
Diluted Shares Outstanding 56.60M shares 56.80M shares

Balance Sheet

Concept 2017 Q3 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.70M $53.50M $51.60M
YoY Change -7.56% -3.6% 0.78%
Cash & Equivalents $47.70M $53.50M $51.60M
Short-Term Investments
Other Short-Term Assets $31.30M $30.00M $27.60M
YoY Change 13.41% 11.11% -6.76%
Inventory
Prepaid Expenses $94.70M $68.00M $92.70M
Receivables $875.3M $803.7M $774.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.049B $991.3M $946.0M
YoY Change 10.89% 10.88% -5.36%
LONG-TERM ASSETS
Property, Plant & Equipment $100.9M $81.80M $76.80M
YoY Change 31.38% 10.54% -4.48%
Goodwill $926.9M $912.8M $910.6M
YoY Change 1.79% 5.22% -0.65%
Intangibles
YoY Change
Long-Term Investments $16.30M $17.10M $29.60M
YoY Change -44.93% -24.34% -12.68%
Other Assets $111.6M $134.3M $132.2M
YoY Change -15.58% 17.81% 15.26%
Total Long-Term Assets $1.304B $1.288B $1.293B
YoY Change 0.81% 4.11% 2.28%
TOTAL ASSETS
Total Short-Term Assets $1.049B $991.3M $946.0M
Total Long-Term Assets $1.304B $1.288B $1.293B
Total Assets $2.353B $2.279B $2.239B
YoY Change 5.07% 6.95% -1.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $202.5M $174.3M $177.5M
YoY Change 14.08% -2.68% 6.29%
Accrued Expenses $318.1M $307.2M $317.0M
YoY Change 0.35% 5.86% 6.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $690.1M $596.8M $588.0M
YoY Change 17.36% 5.03% 5.87%
LONG-TERM LIABILITIES
Long-Term Debt $264.7M $268.3M $224.3M
YoY Change 18.01% 69.81% -26.48%
Other Long-Term Liabilities $55.20M $71.20M $65.30M
YoY Change -15.47% 53.45% 44.47%
Total Long-Term Liabilities $55.20M $339.5M $65.30M
YoY Change -15.47% 631.68% 44.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $690.1M $596.8M $588.0M
Total Long-Term Liabilities $55.20M $339.5M $65.30M
Total Liabilities $1.384B $1.305B $1.242B
YoY Change 11.5% 16.17% -2.83%
SHAREHOLDERS EQUITY
Retained Earnings $734.9M $756.4M $757.9M
YoY Change -3.03% 2.7% 7.21%
Common Stock $254.2M $249.2M $262.6M
YoY Change -3.2% -9.74% -7.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $968.6M $974.0M $997.9M
YoY Change
Total Liabilities & Shareholders Equity $2.353B $2.279B $2.239B
YoY Change 5.07% 6.95% -1.1%

Cashflow Statement

Concept 2017 Q3 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $32.90M $7.800M $31.10M
YoY Change 5.79% -79.9% 1973.33%
Depreciation, Depletion And Amortization $14.90M $14.40M $13.90M
YoY Change 7.19% 3.6% -6.08%
Cash From Operating Activities -$22.80M $10.60M $16.90M
YoY Change -234.91% -75.85% -72.92%
INVESTING ACTIVITIES
Capital Expenditures -$14.40M -$16.60M -$11.70M
YoY Change 23.08% 207.41% 62.5%
Acquisitions
YoY Change
Other Investing Activities $36.50M -$12.30M $200.0K
YoY Change 18150.0% -109.34% -101.35%
Cash From Investing Activities $22.10M -$28.90M -$11.50M
YoY Change -292.17% -122.88% -47.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.200M 23.50M 500.0K
YoY Change -1740.0% -114.17% -102.55%
NET CHANGE
Cash From Operating Activities -22.80M 10.60M 16.90M
Cash From Investing Activities 22.10M -28.90M -11.50M
Cash From Financing Activities -8.200M 23.50M 500.0K
Net Change In Cash -8.900M 5.200M 5.900M
YoY Change -250.85% 20.93% -71.63%
FREE CASH FLOW
Cash From Operating Activities -$22.80M $10.60M $16.90M
Capital Expenditures -$14.40M -$16.60M -$11.70M
Free Cash Flow -$8.400M $27.20M $28.60M
YoY Change -129.37% -44.83% -58.91%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">THE COMPANY AND NATURE OF OPERATIONS</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">ABM Industries Incorporated, which operates through its subsidiaries (collectively referred to as &#8220;ABM,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; or the &#8220;Company&#8221;), is a leading provider of integrated facility solutions, customized by industry, that enable our clients to deliver exceptional facilities experiences. We are organized into </font><font style="font-family:Arial;font-size:10pt;">five</font><font style="font-family:Arial;font-size:10pt;"> industry groups and </font><font style="font-family:Arial;font-size:10pt;">one</font><font style="font-family:Arial;font-size:10pt;"> Technical Solutions segment: </font></div><div style="line-height:120%;padding-top:12px;text-align:center;"><img src="revisedindustrygroupsa011a04.jpg" alt="revisedindustrygroupsa011a04.jpg" style="height:100px;width:678px;"></img></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Through these groups, we offer a full complement of solutions, including janitorial, facilities engineering, and parking, on a stand-alone basis or in combination with each other or with specialized mechanical and electrical technical solutions.</font></div></div>

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