ABM Industries Q2 Profit Misses Estimate; Back FY14 View

(RTTNews) - ABM Industries Inc. (ABM) reported net income for the second quarter of $15.2 million or $0.27 per share, compared to $19.3 million or $0.35 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $18.8 million or $0.33 per share, compared to $20.2 million or $0.36 per share in the prior year quarter.

Revenue for the second quarter rose 4.9% to $1.23 billion from $1.17 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.40 per share on revenue of $1.23 billion for the second quarter. Analysts' estimates typially exclude special items.

The company reaffirmed its previously issued 2014 guidance for earnings of $1.38 to $1.48 per share and adjusted earnings of $1.58 to $1.68 per share. Analysts currently expect the company to earn $1.64 per share for the fiscal year 2014.