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ABM to Save $13.7 Million in Energy Costs for Newton County
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Leading provider of facility solutions, ABM Industries Incorporated (ABM - Free Report) has started a series of energy-saving initiatives in 15 county-owned facilities in Newton County, GA, to save over $13.7 million in energy and operating costs over a 15-year period. The comprehensive energy performance contracting program through ABM’s Technical Solutions group is likely to be completed by Apr 2018.
In order to reduce energy costs, ABM is implementing various energy-efficient infrastructure upgrades to various buildings in the region such as rejuvenated HVAC (heating, ventilation and air conditioning) systems and maintenance, lighting upgrades to efficient LED lighting systems, water conservation upgrades and new energy management systems. Some noteworthy facilities in the county that are likely to get an infrastructure facelift include the Newton County Detention Center, the Judicial Center, the Administration Building, the Historic Courthouse, the Public Works and Maintenance Building, the Fire Administration Building, two recreation centers and seven fire stations.
ABM’s energy performance contracting program aims to either replace or upgrade the aging infrastructure facilities without incurring upfront costs. This is primarily achieved through the reallocation of current and future owning and operating costs while maximizing energy efficiency and lowering overall annual costs. The program is designed according to the clients’ technical facility needs and sustainability goals. It seeks to eliminate redundant costs in a client’s operating budget, allowing savings to fund the upgrades.
ABM recently got enlisted in the multi-million energy savings performance contract from the U.S. Department of Energy. This multi-award task order contract enables the company to compete for over $750 million of projects awarded each year to reduce energy costs of federal buildings.
The selection of ABM in the empanelled list validates its superior track record of helping federal agencies save huge costs through energy-saving solutions. Over the years, the company has offered extensive energy and facility improvements to various federal buildings throughout southern California. The energy performance contracting program of the company guarantees minimum savings of $48.4 million in energy and operating costs over the next 20 years, reducing energy consumption by more than 40%.
However, ABM has underperformed the Zacks categorized Building Products - Maintenance Service industry with an average year-to-date return of 3.2% compared with a gain of 7.6% for the latter. ABM has a significant presence in the U.K. and as the European economy is highly unpredictable post the Brexit referendum, it becomes difficult for it to increase revenues and reduce costs. The company is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members. Brexit could further result in higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering the productivity of the company. Strong competitive pressure could also limit the company’s success rate in bidding for profitable businesses and its ability to increase prices in accordance with the rising costs.
Limbach Holdings has a long-term earnings growth expectation of 16%.
SPS Commerce has a long-term earnings growth expectation of 22.5%. It has beaten earnings estimates in each of the trailing four quarters with a positive surprise of 104.2%.
InnerWorkings has a long-term earnings growth expectation of 21.7%.
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It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>
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ABM to Save $13.7 Million in Energy Costs for Newton County
Leading provider of facility solutions, ABM Industries Incorporated (ABM - Free Report) has started a series of energy-saving initiatives in 15 county-owned facilities in Newton County, GA, to save over $13.7 million in energy and operating costs over a 15-year period. The comprehensive energy performance contracting program through ABM’s Technical Solutions group is likely to be completed by Apr 2018.
In order to reduce energy costs, ABM is implementing various energy-efficient infrastructure upgrades to various buildings in the region such as rejuvenated HVAC (heating, ventilation and air conditioning) systems and maintenance, lighting upgrades to efficient LED lighting systems, water conservation upgrades and new energy management systems. Some noteworthy facilities in the county that are likely to get an infrastructure facelift include the Newton County Detention Center, the Judicial Center, the Administration Building, the Historic Courthouse, the Public Works and Maintenance Building, the Fire Administration Building, two recreation centers and seven fire stations.
ABM’s energy performance contracting program aims to either replace or upgrade the aging infrastructure facilities without incurring upfront costs. This is primarily achieved through the reallocation of current and future owning and operating costs while maximizing energy efficiency and lowering overall annual costs. The program is designed according to the clients’ technical facility needs and sustainability goals. It seeks to eliminate redundant costs in a client’s operating budget, allowing savings to fund the upgrades.
ABM recently got enlisted in the multi-million energy savings performance contract from the U.S. Department of Energy. This multi-award task order contract enables the company to compete for over $750 million of projects awarded each year to reduce energy costs of federal buildings.
The selection of ABM in the empanelled list validates its superior track record of helping federal agencies save huge costs through energy-saving solutions. Over the years, the company has offered extensive energy and facility improvements to various federal buildings throughout southern California. The energy performance contracting program of the company guarantees minimum savings of $48.4 million in energy and operating costs over the next 20 years, reducing energy consumption by more than 40%.
However, ABM has underperformed the Zacks categorized Building Products - Maintenance Service industry with an average year-to-date return of 3.2% compared with a gain of 7.6% for the latter. ABM has a significant presence in the U.K. and as the European economy is highly unpredictable post the Brexit referendum, it becomes difficult for it to increase revenues and reduce costs. The company is likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members. Brexit could further result in higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering the productivity of the company. Strong competitive pressure could also limit the company’s success rate in bidding for profitable businesses and its ability to increase prices in accordance with the rising costs.
ABM currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry include Limbach Holdings, Inc. (LMB - Free Report) , SPS Commerce, Inc. (SPSC - Free Report) and InnerWorkings, Inc. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Limbach Holdings has a long-term earnings growth expectation of 16%.
SPS Commerce has a long-term earnings growth expectation of 22.5%. It has beaten earnings estimates in each of the trailing four quarters with a positive surprise of 104.2%.
InnerWorkings has a long-term earnings growth expectation of 21.7%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>