NEW YORK (AP) — NEW YORK (AP) — ABM Industries Inc. (ABM) on Wednesday reported fiscal fourth-quarter net income of $34.8 million, after reporting a loss in the same period a year earlier.
The New York-based company said it had net income of 56 cents per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, were 88 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The provider of cleaning and other maintenance services for commercial buildings, hospitals and airports posted revenue of $2.3 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $2.27 billion.
For the year, the company reported profit of $162.4 million, or $2.59 per share. Revenue was reported as $8.75 billion.
ABM Industries expects full-year earnings in the range of $3.85 to $4.15 per share.
ABM Industries shares have declined 11% since the beginning of the year. The stock has fallen 19% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABM at https://www.zacks.com/ap/ABM
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