ABM looks to evolve its IT strategy with the addition of the former IBM Cloud CMO
ABM Industries Incorporated (NYSE:ABM) is one of the largest facility management providers in the United States. The company provides janitorial, facilities engineering, parking, custodial, landscaping, mechanical, vehicle maintenance, energy solutions, and electrical & lighting services. At last check, the security was up 0.04%, at $41.21.
Last week ABM Industries announced the addition of Quincy Allen to its Board of Directors. Most recently, Allen held the role of Chief Marketing Officer of IBM Cloud at IBM (IBM) from 2015 to 2018. In the announcement, ABM’s Chairman, Sudhakar Kesavan, highlighted Allen’s extensive operational and technology experience and his business development background as key attributes to help ABM evolve its IT strategy.
Additionally, ABM Industries is expected to report its fiscal first-quarter earnings after the close on Tuesday, March 2. Analysts project the company to report an earnings per share (EPS) of $0.59. ABM has beat earnings expectations in three of its last four quarters.
For the first quarter of 2020, ABM Industries beat analysts’ expectations by a margin of $0.10 and reported earnings of $0.39 per share. For the second quarter of 2020, ABM increased its EPS up to $0.60 and outperformed expectations by a margin of $0.31. ABM increased its EPS to $0.75 in the third quarter of 2020 and beat expectations by $0.33. In its most recent quarterly earnings, ABM decreased its earnings down to $0.69 per share. The company also missed earnings expectations by a margin of $0.01.
The equity has increased 12% year-to-date, and over 100% since its nearly eight-year low of $19.79. Even further, on Jan. 14, AMB hit an almost four-year peak of $42.95. The company also has a forward dividend of $0.76 and a dividend yield of 1.84%.
