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ABM Industries (ABM) has an average rating of overweight and mean price target of $55.36, according to analysts polled by FactSet.Price: $49.27, Change: $+0.20, Percent Change: +0.41%
(Updates with market moves at the end of the day, and other changes, if any.)US stocks fell for a second consecutive session on Tuesday as heightened tensions in the Middle East drove oil prices higher.The Dow Jones Industrial Average closed 1.2% lower at 52,786.07, while the S&P 500 shed 0.6% to 7,673.52. The Nasdaq Composite dipped 0.3% to 26,421.41. US markets were closed Monday for the Labor Day holiday.Most sectors ended in the red, led by healthcare, while energy paced the gainers.West Texas Intermediate crude oil rose 2.4% to $93.71 a barrel in Tuesday late-afternoon trade, having hit a high of $94.73 earlier in the day. Brent crude climbed 1.9% to $98.79, after advancing earlier to reach an intraday peak of $99.46.Yemen's Iran-allied Houthi group struck civilian and economic sites in Saudi Arabia, injuring 73 people, the kingdom's Ministry of Foreign Affairs said Tuesday. The Houthi group targeted Saudi Aramco's facilities across Abha, Najran, and Jazan, Bloomberg News reported, citing the group's military spokesperson.US Central Command said Saturday that its forces targeted three Iranian oil tankers on Saturday in response to Tehran firing ballistic missile at two American Navy warships.Treasury yields were higher, with the two-year rate up 1.7 basis points at 4.4% and the 10-year rate rising 0.8 basis point to 4.79%.US consumers had mixed views on the inflation trajectory in August, seeing prices hold steady in the short- and long-term but expecting a drop over the next three years, a survey by the Federal Reserve Bank of New York showed Tuesday.The August consumer and producer price data for August, due out later this week, could serve as crucial data points for the Federal Open Market Committee, which begins its two-day policy meeting Tuesday next week.Markets are pricing in a 59% probability that the FOMC will raise the benchmark lending rate by 25 basis points on Sept. 16, with the remaining odds pointing to another Fed pause, according to the CME FedWatch tool.In company news, Boston Scientific (BSX) shares fell 5.9% after the medical device maker said it may not be able to meet its own guidance, citing a "material impact" from a recent cybersecurity incident.ABM Industries (ABM) tightened its full-year earnings outlook as the facility services provider's bottom line for the fiscal third quarter topped market estimates. The company's shares jumped 7.6%.S&P 500 companies' second-quarter earnings growth continues to outpace early forecasts as the reporting season draws to a close, Oppenheimer Asset Management said Tuesday.Cloud computing giant Oracle (ORCL) and photoshop maker Adobe (ADBE) are scheduled to report results later in the week.Spot gold dropped 1.1% to $4,357.46 per troy ounce, while silver edged down 0.4% to $66.50 per ounce.
(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, while oil prices were volatile amid intensifying tensions in the Middle East.The Dow Jones Industrial Average was down 1% at 52,875.1 after midday Tuesday, while the S&P 500 fell 0.3% to 7,692.4. The Nasdaq Composite edged down 0.1% to 26,484.7. The indexes finished Friday's trading session in the red.US markets were closed Monday for the Labor Day holiday.Among sectors, healthcare led the laggards intraday Tuesday, while utilities paced the gainers.West Texas Intermediate crude oil rose 0.7% to $92.09 a barrel, having hit a high of $94.73 earlier in the day. Brent crude edged down 0.1% to $96.90, after advancing earlier to reach an intraday peak of $99.46.Yemen's Iran-allied Houthi group struck civilian and economic sites in Saudi Arabia, injuring 73 people, the kingdom's Ministry of Foreign Affairs said Tuesday. The Houthi group targeted Saudi Aramco's facilities across Abha, Najran, and Jazan, Bloomberg News reported, citing the group's military spokesperson.The attacks were in retaliation to Saudi strikes in northwestern Yemen, BBC reported, citing the Houthis.The US Treasury Department said Tuesday it "sanctioned 36 targets for supporting Iran's aviation sector, which the regime uses to move weapons, personnel, and illicit cargo."Treasury yields were little changed intraday, with the two-year rate at 4.38% and the 10-year rate at 4.79%.In company news, Boston Scientific (BSX) shares fell 4.7% after the medical device maker flagged its inability to meet its third-quarter and full-year financial outlooks, citing a "material impact" from a recent cybersecurity incident.ABM Industries (ABM) tightened its full-year earnings outlook as the facility services provider's bottom line for the fiscal third quarter topped market estimates. The company's shares were up 7.8%.S&P 500 companies' second-quarter earnings growth continues to outpace early forecasts as the reporting season draws to a close, Oppenheimer Asset Management said Tuesday.Cloud computing giant Oracle (ORCL) and Photoshop maker Adobe (ADBE) are scheduled to report results later in the week.Spot gold ticked down 0.2% to $4,393.97 per troy ounce, while silver rose 0.5% to $67.06.
ABM Industries (ABM) tightened its full-year earnings outlook on Tuesday as the facility services provider's bottom line for the fiscal third quarter topped market estimates, while revenue matched expectations.The company now anticipates adjusted earnings to be in a range of $3.95 to $4.10 per share for fiscal 2026, compared with its previous guidance of $3.85 to $4.15. The current consensus on FactSet is for non-GAAP EPS of $3.98."We are raising the midpoint of our adjusted EPS outlook and increasing our expectations for full year free cash flow based on our strong third quarter results, and are confident in our ability to achieve it," Chief Executive Scott Salmirs said in a statement. Free cash flow is now expected to come in at $210 million, up about $25 million from the prior guidance.ABM continues to project revenue to rise toward the top end of its previously issued growth forecast of 4% to 5%, while the Street is looking for an increase of 5.4%. On an organic basis, revenue is still pegged to grow near the high end of a 3% to 4% range.For the three months through July, the firm's adjusted EPS climbed to $1.04 from $0.82, ahead of the average analyst estimate of $1.01. Revenue improved 4.2% to $2.32 billion, including organic growth of 2.1%, meeting the Street's view."Our third-quarter results reflected strong operational and financial performance," according to Salmirs. "Our team executed well and delivered on our expectations despite a backdrop of macro uncertainty and adverse timing of certain projects."Revenue in the business and industry segment declined 2.6% to $1.01 billion. The decline was largely anticipated by the company amid the previously announced exit of a large UK-based client and continued softness on the US West Coast.Manufacturing and distribution sales jumped 18% to $481 million, buoyed by the company's acquisition of WGNstar completed in February, new clients and ongoing expansion in technology markets.In the aviation division, revenue inclined 13% to $328.1 million amid healthy air travel trends, while the education business edged 0.3% higher.Technical solutions revenue was up 4.2%, but below the firm's expectations due to a large client deferring certain projects. "We expect (technical solutions) to ramp sequentially in the fourth quarter as we execute on many of the deferred projects," Salmirs said.Last month, rival Aramark (ARMK) lifted its full-year organic revenue growth outlook following better-than-expected fiscal third-quarter results. In late July, CBRE (CBRE) raised its 2026 core EPS guidance.
The benchmark US stock measures were mostly pointing lower before the opening bell Tuesday amid escalating hostilities in the Middle East, while investors await key inflation data later in the week.The S&P 500 fell 0.2%, and the Dow Jones Industrial Average decreased 0.7% in premarket activity, while the Nasdaq edged up 0.1%. The indexes finished Friday's trading session in the red. US markets were closed on Monday for the Labor Day holiday.West Texas Intermediate crude oil rose 2.6% to $93.84 a barrel, while Brent gained 1.6% to $98.50.Saudi Arabia's energy ministry reportedly said operations at certain energy facilities were halted following strikes by the Iran-backed Houthi militants from Yemen that hurt more than 70 people, CNBC reported. A military spokesman for the Houthis said the group attacked Saudi Aramco facilities, according to the report.The US Central Command said Saturday that its forces struck three Iranian crude oil carriers after Iran's Islamic Revolutionary Guard Corps launched ballistic missiles toward two US Navy warships.Iran said its deal with Oman to manage shipping through the Strait of Hormuz is in its final stages and will include a temporary safe route through the crucial waterway, Bloomberg News reported Tuesday.Traders await the consumer price index for August on Friday, while data on wholesale prices for the same month is scheduled to be released on Thursday.Treasury yields were mixed, with the two-year rate retreating 0.6 basis points to 4.37%, while the 10-year rate rose 1.2 basis points to nearly 4.8%.Last week, government data showed that the US economy added 162,000 jobs in August, well above the 55,000 increase expected by Wall Street. The report came as the Federal Reserve weighs labor-market conditions and inflation expectations ahead of its policy meeting next week.Markets are pricing in a 61% probability that the Federal Open Market Committee will raise its benchmark lending rate by 25 basis points at its meeting this month, with the remaining odds pointing to no change, according to the CME FedWatch tool.Shares of Micron Technology (MU) advanced 1.6% pre-bell, while Intel (INTC) climbed 4.3%. Nvidia (NVDA) nudged 0.4% higher, while SanDisk (SNDK) was up 1.9%.ABM Industries (ABM) and United Natural Foods (UNFI) are expected to release their latest financial results before the bell, while Casey's General Stores (CASY) posts its earnings after the markets close.Gold was down 0.6% at $4,447 per troy ounce, while bitcoin declined 0.7% to $78,749.
ABM Industries (ABM) said Tuesday it launched an autonomous robotics pilot program at LaGuardia Airport Terminal B in collaboration with terminal operator LaGuardia Gateway Partners.The companies will deploy autonomous inspection and cleaning robots as part of an airport guest experience strategy, according to a statement.Price: $49.63, Change: $+1.17, Percent Change: +2.40%
Scott B Salmirs, Director, President and CEO, on June 12, 2026, sold 50,000 shares in ABM Industries (ABM) for $2,317,012. Following the Form 4 filing with the SEC, Salmirs has control over a total of 395,285 common shares of the company, with 395,285 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/771497/000122520826005990/xslF345X05/doc4.xml
ABM Industries' (ABM) fiscal second-quarter results topped market expectations, while the facility services provider reiterated its full-year earnings outlook.The company on Friday posted adjusted earnings of $0.90 a share for the quarter ended April, up from $0.86 the year before and surpassing the FactSet-polled consensus for $0.88. Revenue improved 8.4% to $2.29 billion, exceeding the Street's view for $2.22 billion.The stock gained 1.3% in the most recent premarket activity."Our second-quarter performance was highlighted by organic revenue growth of 6.1% and record first-half new sales bookings of $1.2 billion," Chief Executive Scott Salmirs said in a statement. "Beyond the top line, we executed well in the quarter, resulting in improved margin on a sequential basis and continued solid free cash flow generation."For fiscal 2026, ABM continues to project adjusted EPS to come in between $3.85 and $4.15, compared with the average analyst estimate of $3.96. Revenue is now pegged to grow at the top end of the firm's previously issued guidance range of 4% to 5%. The Street is looking for $9.18 billion.The company expects "meaningfully" higher volume in its technical solutions and manufacturing and distribution businesses in the second half, Salmirs said.Revenue in the business and industry segment remained unchanged at $1.02 billion in the second quarter, as robust growth in the company's UK operations was largely offset by the exit of certain clients, it said. The manufacturing and distribution division revenue rose 17% to $463.8 million, buoyed by acquisitions, recent client wins and ongoing expansions.Aviation business sales advanced 20% to $310.8 million, reflecting healthy domestic air travel trends and the continued ramp of new contracts, according to ABM. Revenue in the technical solutions segment jumped 27%, while the education business ticked up 1.9%."We are encouraged by constructive demand trends across the majority of our end markets, and remain focused on executing with discipline as the broader macroeconomic environment continues to evolve," Salmirs said.
The benchmark US stock measures were mostly tracking in the red before the open Friday as traders await a key employment report for May.The S&P 500 decreased 0.5% and the Nasdaq was off 1% in premarket activity, while the Dow Jones Industrial Average edged up 0.1%. The indexes finished the previous trading session mostly up, with the Dow recording a fresh closing high.The nonfarm payrolls report for last month is scheduled to be released at 8:30 am ET. Government data is expected to show that the US economy added 85,000 jobs in May, compared with a 115,000 gain reported for the month prior, according to a Bloomberg poll.Job cut announcements in May hit the highest for the month since 2020, Challenger, Gray & Christmas said Thursday, while US weekly applications for unemployment insurance rose unexpectedly. Earlier in the week, ADP (ADP) reported stronger-than-expected private-sector hiring for May.Treasury yields were down in premarket action, with the two-year rate retreating 0.4 basis points to 4.05% and the 10-year rate declining 0.2 basis points to 4.48%.Friday's economic calendar also has the weekly Baker Hughes oil-and-gas rig count at 1 pm.President Donald Trump reportedly said Thursday he'd be "honored" to meet Iran's new Supreme Leader Mojtaba Khamenei if a peace deal is agreed between Washington and Tehran. Mojtaba Khamenei was named the supreme leader in Iran after his father, Ali Khamenei, was killed in strikes by the US and Israel in late February.West Texas Intermediate crude oil slipped 0.2% to $92.87 a barrel before the opening bell, while Brent nudged 0.1% lower to $94.90.Hezbollah leader Naim Qassem on Thursday rejected a US-brokered ceasefire agreement between Israel and Lebanon. The two countries agreed to the truce, subject to Iran-backed Hezbollah ending all fire and evacuating its operatives from the South Litani Sector, according to a joint statement from the US, Israel and Lebanon released Wednesday.But just hours after the deal, Israeli forces and Hezbollah fighters launched strikes, CNN reported Thursday.Shares of Lululemon Athletica (LULU) dropped 13% pre-bell after the athletic apparel retailer lowered its full-year outlook amid certain headwinds and deteriorating sales trends. Micron Technology (MU) declined 3.3% after closing the previous session down 7.7%.ABM Industries (ABM) and G-III Apparel (GIII) report their latest financial results before the bell, among others.Gold decreased 0.3% to $4,491 per troy ounce, while bitcoin slid 1.6% to $62,671.
