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EX - 99.1 2 tm219160d1_ex99-1.htm EXHIBIT 99.1 ABM® Building Value ABM INDUSTRIES ANNOUNCES RESULTS FOR Exhibit 99.1 FIRST QUARTER FISCAL 2021 GAAP Continuing EPS of $ 1.10 ; Adjusted Continuing EPS of $ 1.01 Cash Flow from Operations of More Than $ 45 Million Fiscal 2021 Guidance Outlook Issued Declaration of 220 th Consecutive Quarterly Dividend New York , NY - March 9 , 2021 - ABM ( NYSE : ABM ) , a leading provider of facility solutions , today announced financial results for the first quarter of fiscal 2021 . Scott Salmirs , President and Chief Executive Officer of ABM Industries commented , “ Our strong performance for the first quarter underscores our clients ' focus on protecting their people and spaces . Revenue performance exceeded our expectations as we saw an acceleration of higher margin , Work Orders for virus protection and EnhancedClean ™ services . Effective labor management also remained a critical component of our results as we navigated the hybrid occupancy environment across our Industry Groups . Our industry- leading execution during these challenging times led to record first quarter profit and earnings results . ” Mr. Salmirs continued , “ In addition to our operational performance , we also built upon the disciplines we instituted last year in areas such as liquidity and working capital management . While the first quarter has historically been a period of cash flow usage , we have achieved more than $ 45 million in cash flow year - to - date . I am so proud of our entire organization for delivering an exceptional start to the new fiscal year . " Three Months Ended January 31 , ( in millions , except per share amounts ) ( unaudited ) 2021 2020 Increase / ( Decrease ) Revenues Operating profit $ 1,492.4 1,612.9 ( 7.5 ) % $ 109.7 $ 45.8 139.5 % Income from continuing operations $ 74.6 27.9 167.8 % Income from continuing operations per diluted share $ 1.10 $ 0.41 168.3 % Adjusted income from continuing operations $ 68.3 26.2 160.7 % Adjusted income from continuing operations per diluted share $ 1.01 0.39 159.0 % Net income $ 74.6 $ 28.0 166.6 % Net income per diluted share $ 1.10 $ 0.42 161.9 % Adjusted EBITDA 123.7 68.8 79.9 % Adjusted EBITDA margin 8.3 % 4.3 % 403 bps Net cash provided by ( used in ) operating activities of continuing operations¹ Free cash flow ! $ 45.3 $ ( 34.5 ) 231.7 % $ 38.7 $ ( 45.8 ) 184.6 % 1 The quarter ended January 31 , 2021 includes the deferral of approximately $ 31 million of payroll taxes provided by the Coronavirus Aid , Relief , and Economic Security Act ( " CARES Act " ) . 1