Yahoo Finance ABM Industries (ABM) to Report Q2 Earnings: What's in Store?
ABM Industries Incorporated ABM is scheduled to release its second-quarter fiscal 2023 results on Jun 6 before market open.
The company has an impressive earnings surprise history with earnings surpassing the Zacks Consensus Estimate in all the four trailing quarters. The average earnings surprise is 1%.
ABM Industries Incorporated Price and EPS Surprise
ABM Industries Incorporated price-eps-surprise | ABM Industries Incorporated Quote
Expectations From ABM in Q2
The Zacks Consensus Estimate for the top line is currently pegged at $2 billion, up 5.9% from the year-ago actual figure. The expected uptick can be due to the successful execution of the Vision 2020 initiative and the benefits from strategic acquisitions.
Revenues from the Business and Industry segment are likely to have increased 4.3% on a year-over-year basis, the consensus estimate of which is currently pegged at $1.05 billion. Such an increase can be correlated to the likely stable office occupancy rates as a result of employers opting for remote and hybrid work.
The Zacks Consensus Estimate for the Aviation segment’s revenues in the to-be-reported quarter is pegged at $200 million, indicating a 7.5% increase year over year. Such an uptick can be due to the anticipated normalized overall market growth.
The consensus mark for the Manufacturing and Distribution segment’s revenues in the to-be-reported quarter is pegged at $375 million. The segment is likely to have benefited from expanded markets and the onboarding of new clients.
The Zacks Consensus Estimate for the Education segment’s revenues in the to-be-reported quarter is pegged at $210 million, indicating a 2.9% increase year over year owing to the expected strength in the business pipeline. Revenues from the Technical Solutions segment are likely to have increased 25.2% on a year-over-year basis, the consensus estimate of which is currently pegged at $184 million. The uptick can be due to the continued demand for Electronic Vehicle charging infrastructure.
The consensus estimate for the bottom line in the to-be-reported quarter stands at 86 cents per share which indicates a decline of 3.4% from the year-ago figure. The likely decline can be due to the decrease in higher-margin disinfection services as well as higher labor costs.
What Our Model Says
Our proven model predicts an earnings beat for ABM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is precisely the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
ABM has an Earnings ESP of +1.16% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings Snapshots
Omnicom OMC reported better-than-expected first-quarter 2023 results. OMC’s earnings of $1.56 per share beat the Zacks Consensus Estimate by 13%. Earnings per share increased 12.2% year over year. Total revenues of $3.4 billion surpassed the consensus estimate by 2.3%. The top line increased 1% year over year.
Equifax EFX also reported better-than-expected first-quarter 2023 results. EFX’s adjusted earnings of $1.43 per share beat the consensus mark by 4.4%. However, the bottom line declined 35.6% from the year-ago figure. Total revenues of $1.3 billion surpassed the consensus estimate by 1.5%. The top line decreased 4.5% year over year.
ManpowerGroup MAN reported lower-than-expected first-quarter 2023 results. MAN’s adjusted earnings of $1.61 per share lagged the Zacks Consensus Estimate by 0.6%. Revenues of $4.8 billion missed the consensus mark by 1.3% and our estimate by a slight margin. The top line decreased 7.6% year over year.
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ManpowerGroup Inc. (MAN) : Free Stock Analysis Report
Omnicom Group Inc. (OMC) : Free Stock Analysis Report
Equifax, Inc. (EFX) : Free Stock Analysis Report
ABM Industries Incorporated (ABM) : Free Stock Analysis Report
