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ABM Industries Inc. (ABM - Free Report) reported mixed third-quarter fiscal 2023 results wherein earnings missed the Zacks Consensus Estimate while revenues beat the same.
Adjusted earnings (considering 68 cents from non-recurring items) came in at 79 cents per share, which missed the consensus estimate by 10.2% and decreased 16% from last fiscal year’s quarterly figure.
Total revenues of $2.03 billion beat the consensus mark by a slight margin but improved 3.4% from the last fiscal year’s quarterly figure. The upside was backed by solid segmental performance, strength from new accounts which came online late last year and the acquisition of RavenVolt. Quarterly revenue growth included 2.5% organic growth and a 0.9% upside from acquisitions.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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