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ABM Industries Extends Janitorial Services Alliance With AEG
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ABM Industries Incorporated (ABM - Free Report) announced renewal of its partnership with AEG — one of the largest sports and live entertainment companies across the globe.
The partnership extension means that ABM Industries will continue to offer janitorial services at AEG’s five venues in California — STAPLES Center, Microsoft Theater, Pechanga Arena San Diego, Dignity Health Sports Park and L.A. LIVE.
Rene Jacobsen, executive vice president and president of Business & Industry at ABM, stated, “In renewing our partnership with AEG, we understand that AEG is entrusting us to service these world-class facilities. It is our responsibility and privilege to help ensure that these venues offer exceptional experiences for all guests and event staff, and we take it very seriously.”
From convention centers to concert halls, ABM Industries provides janitorial services to more than 100 sports and entertainment venues. The company’s janitorial services include pre, during & post-event cleaning; pressure washing & window cleaning, floor care, waste removal & recycling, changeover crews, food service sanitation and suite & seat detailing.
Shares of ABM Industries have gained 4.2% in the past six months against 8% decline of the industry it belongs to.
Our Take
The partnership is likely to help ABM Industries boost its Business & Industry segment as it encompasses the company’s janitorial service offerings to sports and entertainment venues.
Accounting for 48% of ABM Industries’ revenues in first-quarter fiscal 2019, the segment emerged as the largest contributor. Its revenues improved 2.4% year over year.
Zacks Rank and Stocks to Consider
Currently, ABM Industries carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the broader Zacks Business Services sector are Interpublic (IPG - Free Report) , Omnicom (OMC - Free Report) and Paychex (PAYX - Free Report) , each carrying a Zacks Rank #2 (Buy). Long-term expected EPS (three to five years) growth rate for Interpublic, Omnicom and Paychex is 2.7%, 4.7% and 8.8%, respectively.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
Image: Bigstock
ABM Industries Extends Janitorial Services Alliance With AEG
ABM Industries Incorporated (ABM - Free Report) announced renewal of its partnership with AEG — one of the largest sports and live entertainment companies across the globe.
The partnership extension means that ABM Industries will continue to offer janitorial services at AEG’s five venues in California — STAPLES Center, Microsoft Theater, Pechanga Arena San Diego, Dignity Health Sports Park and L.A. LIVE.
Rene Jacobsen, executive vice president and president of Business & Industry at ABM, stated, “In renewing our partnership with AEG, we understand that AEG is entrusting us to service these world-class facilities. It is our responsibility and privilege to help ensure that these venues offer exceptional experiences for all guests and event staff, and we take it very seriously.”
From convention centers to concert halls, ABM Industries provides janitorial services to more than 100 sports and entertainment venues. The company’s janitorial services include pre, during & post-event cleaning; pressure washing & window cleaning, floor care, waste removal & recycling, changeover crews, food service sanitation and suite & seat detailing.
Shares of ABM Industries have gained 4.2% in the past six months against 8% decline of the industry it belongs to.
Our Take
The partnership is likely to help ABM Industries boost its Business & Industry segment as it encompasses the company’s janitorial service offerings to sports and entertainment venues.
Accounting for 48% of ABM Industries’ revenues in first-quarter fiscal 2019, the segment emerged as the largest contributor. Its revenues improved 2.4% year over year.
Zacks Rank and Stocks to Consider
Currently, ABM Industries carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few better-ranked stocks in the broader Zacks Business Services sector are Interpublic (IPG - Free Report) , Omnicom (OMC - Free Report) and Paychex (PAYX - Free Report) , each carrying a Zacks Rank #2 (Buy). Long-term expected EPS (three to five years) growth rate for Interpublic, Omnicom and Paychex is 2.7%, 4.7% and 8.8%, respectively.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
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