ABM Partners with Auburn University to Accelerate EV Charging Innovations

ABM Industries (NYSE: ABM), a leading provider of facility services, infrastructure and electric vehicle charging solutions, and parking and transportation management, recognized six graduating students of Auburn University School of Industrial & Graphic Design with awards of up to $3,000 for their work designing innovative #EVcharging station concepts through their senior projects. As part of ABM’s commitment to continuous innovation within the eMobilty sector, these designs will join the company’s other future-forward concepts informing the next evolution in EV infrastructure.
 
ABM, one of the nation’s leading installers of EV chargers, launched their own branded charging solutions earlier in 2023 to bring new solutions to address the needs of drivers today. Looking to further enhance that driver experience, ABM invested in its partnership with Auburn University to explore new solutions that could improve and enhance current charger design, with emphasis on ease, ergonomics, and accessibility. 13 Auburn students participated in this project, each bringing forth a unique concept for their own variation of a charging station design.
 
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ABM Helps Large Virginia School System Save $6.7 Million with Facility Enhancements

NEW YORK, Dec. 05, 2023 (GLOBE NEWSWIRE) — ABM (NYSE: ABM), a leading provider of facility services, infrastructure and eMobility solutions announced the initiation of an Energy Performance Contracting program for Orange County Public Schools (“OCPS”) in central Virginia. This marks the third energy savings project for OCPS by ABM. The new project creates an additional $6.7 million in projected energy and operating cost savings over a twenty-year period. In addition, OCPS will undergo an extensive upgrade to a critical HVAC mechanical system, and LED lighting upgrades enhancing learning environments for all its schools.
 
“We’re leveraging upgraded technology to deliver new energy cost reductions and improve lighting quality to optimize learning environments,” said Mark Hawkinson, President of ABM Technical Solutions. “This project builds on earlier improvements and creates savings to match or exceed the entire cost of lighting upgrades, bringing those benefits to every school and every student.”
 
In addition to energy savings and operational cost reductions from improved lighting, HVAC, and water conservation upgrades, the contract includes maintenance services and a STEM engagement program to help students learn about energy conservation, and how building these systems contributes to sustainability goals. The project also modernizes some HVAC infrastructure with energy-efficient Variable Refrigerant Flow (“VRF”) equipment to improve resiliency which addresses increasingly extreme seasonal fluctuations in the weather.
 
“Orange County Public Schools is looking forward to the return of ABM to begin work on our third energy savings performance contract for the division. The two previous contracts, in 2013 and 2016, were both very successful and resulted in energy savings well above the guaranteed savings to cover the cost of the work,” said Dr. Daniel Hornick, Superintendent of Orange County Public Schools. “Further, both of our previous performance contracts with ABM greatly reduced our maintenance and repair costs.”
 
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ABM Advances Simplified and Customized EV Charging Infrastructure Through Exclusive Charging Network

NEW YORK, Oct. 23, 2023 (GLOBE NEWSWIRE) — ABM (NYSE: ABM), a leading provider of facility services, infrastructure solutions, parking management and electric vehicle (“EV”) charging solutions, has completed the rollout of its proprietary ABM EV Charging Network, powered by its cloud-based ABM EV OS software in collaboration with Noodoe. Further elevating ABM’s comprehensive single-source EV infrastructure solutions, this network will unlock personalized customer experiences while improving EV charger uptime.
 
Amid a recent nationwide decline in driver satisfaction with public Level 2 charging, facility owners and operators across industries have been challenged to provide new solutions that recognize the importance of service, maintenance, and driver experience when installing and maintaining public EV chargers.
 
A recent report by J.D. Power indicated roughly one in five public charging attempts fail, leading to driver frustration and dissatisfaction.
 
To combat this trend, ABM is proud to announce the nationwide roll out of its EV Charging Network to pair with its other customized turnkey solutions for virtually every commercial application, allowing for the design and implementation of the right EV strategy. This comprehensive approach encompasses charger equipment, installation, maintenance, and upgrades, ensuring a seamless and reliable EV charging experience for both facility owners and drivers.
 
“As America continues its path toward an electric future, intelligently connected infrastructure will be a critical enabler to keep up with the demands of a rapidly growing user-base,” said Mark Hawkinson, President of Technical Solutions, ABM. “As one of the nation’s largest providers of custom EV solutions, including installation, management, and maintenance, we provide a unique perspective on how the EV ecosystem needs to function to better serve customers and enhance value to owners and operators.”
 
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ABM Industries Partners with Providence Public School District to Optimize Operations Across City

NEW YORK, Sept. 05, 2023 (GLOBE NEWSWIRE) — ABM (NYSE: ABM), a leading provider of facility services, infrastructure solutions, and parking and eMobility management, is proud to announce its new partnership with the Providence Public School District (PPSD) in Rhode Island, to enhance the custodial, grounds and maintenance operations of its schools and reimagine how its schools function to better serve its nearly 22,000 students and teachers. The performance-based term of the contract is for the next three years followed by two 2-year options.
 
As one of the largest providers of K-12 school facility services and solutions in the United States, ABM will bring its industry-leading expertise to all schools across the district through its ABM Performance Solutions™ model, providing a holistic “one team” approach. This will be done by consolidating and aligning all operational services, lowering costs, and increasing operational efficiency and effectiveness across PPSD’s 37 schools, including three new schools that will be opening this fall. All 200 custodial, grounds and maintenance team members previously employed to provide services to PPSD schools under the past contractor were offered roles to join ABM.
 
This new partnership will support the maintenance and upkeep of school facilities as Providence invests more than $600 million into its schools to enhance the quality and further improve the lives of its students. ABM will help provide PPSD the support it needs to ensure all schools remain clean, manicured, and fully operational, so that its leadership can focus on enhancing the curriculum and educational support its students need.
 
“We are excited to start the school year strong with our new school facilities partner, ABM Industries, as they work with us to raise the bar and provide even better learning environments for Providence students,” said Dr. Javier Montañez Ed.D., Superintendent of Providence Public School District. “Every Providence student, staff and community member deserves to have a school that is clean and receives the highest level of care so that our students and staff can concentrate on what they do best—teaching and learning.”
 
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ABM to Manage Parking Operations at Oracle Park

ABM partners with San Francisco Giants to Provide Its Industry-Leading Parking Management Solutions.
 
SAN FRANCISCO, Aug. 15, 2023 (GLOBE NEWSWIRE) — ABM (NYSE: ABM), a leading provider of facility services, infrastructure solutions, and parking management, has entered into a three-year agreement to manage parking operations for Oracle Park in San Francisco, California. ABM will be managing three separate parking facilities at the home to Major League Baseball’s (“MLB”) San Francisco Giants.
 
This partnership builds upon ABM’s substantial parking facility management presence across San Francisco, including its position as the largest operator in the Financial District. In all, ABM serves more than 100 stadium and entertainment venues in the U.S., including six MLB ballparks as well as the Golden 1 Center for the nearby Sacramento Kings.
 
“We’re excited to partner with the Giants and the Oracle Park team to further enhance the fan, player, and employee experience through our parking management services,” said Josh Feinberg, EVP and Chief Strategy & Transformation Officer and Head of ABM Parking & Transportation. “Our award-winning expertise in parking operations will match their competitive drive and help provide a fan experience second-to-none.”
 
ABM will serve as a single source for managing the combined 2,175 parking stalls located at Lot A on 3rd Street, Pier 48, and the King-Townsend Garage at 153 Townsend Street. ABM will deploy its local parking lot operators to manage these facilities and use its innovative technologies and green operating solutions to optimize each location.
 
“With parking being the first and last interaction many fans have with us on a game or event day, we’re excited to partner with ABM and gain from their national experience with both parking and sports venues to further elevate the fan experience at Oracle Park,” said Joshua Karlin-Resnick, Transportation Director of the San Francisco Giants.
 
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ABM Advances its ELEVATE Strategy Through Award-Winning Technology and Data Transformation

Under the leadership of ABM’s Chief Information Officer, Melanie Kirkwood Ruiz, ABM is expanding its use of data and modernizing its digital ecosystem to enable greater business connectivity and efficiencies and enhance ABM’s service offerings through client-facing technology and data-driven insights.
 
As ABM advances its growth strategy, its technology and the data transformation efforts underway are being nationally recognized by esteemed organizations and awards programs, with the most recent recognition including…
 
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ABM Named One of the 50 Best Companies to Sell For

NEW YORK, July 12, 2023 (GLOBE NEWSWIRE) — ABM (NYSE: ABM), a leading provider of facility services, infrastructure solutions, and parking management, has been named one of Selling Power magazine’s 50 Best Companies to Sell For in 2023. This is the second consecutive year ABM has been named to the list highlighting the top 50 companies leading in the alignment of people, processes, and technologies to create effective sales cultures.
 
“With a focus on collaboration, development, and innovation, we’ve established a growth culture that’s second-to-none,” said Sean Mahoney, EVP, Sales and Marketing at ABM. “As part of ABM’s ELEVATE strategy, we continue investing in the client and team member experience, enhancing both what we offer and how we deliver for clients. We are incredibly proud to be recognized as a top company to grow a sales career, reflecting our winning culture where our sales team members are supported with industry-leading technologies and resources, coached by some of the best sales leaders in the field, and provided new opportunities to deliver the best solutions for our clients across the wide range of industries we serve.”
 
“The Best Companies to Sell For have created sales organizations that excel in hiring, onboarding, training, and compensation of their sales representatives. What attracts salespeople to work for these leading organizations is their great culture, their commitment to diversity, and their steady support of the sales team by servant leadership that focuses on creating customer value and a meaningful work environment that offers unlimited opportunities to win,” said Gerhard Gschwandtner, Founder and CEO of Selling Power. “These companies aim at a higher level of professionalism and trust, which in turn leads to increased sales and a lower turnover of the sales force.”
 
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ABM Debuts Its First-Ever Branded Integrated EV Charging Solution

Introduction of ABM-Branded Charger Stations and EV software further strengthens position as a leading single source provider of EV ecosystem solutions and service.
 
NEW YORK, June 12, 2023 (GLOBE NEWSWIRE) — ABM (NYSE: ABM), one of the nation’s largest providers of facility services, infrastructure solutions and parking management, has announced the debut of its first-ever branded electric vehicle (“EV”) products, including ABM EV Charging Stations (Level 2 and Level 3) and ABM EV OS, a cloud-based operating platform for EV chargers.
 
Through the introduction of EV hardware, and smart software made possible by an investment in a partnership with Noodoe, a global developer and provider of innovative EV charging software, ABM bolsters its ability to provide comprehensive single-source solutions to design, build, operate and maintain custom, scalable EV infrastructure installations. The ABM Charging Stations and ABM EV OS are being previewed on-site at the 2023 IPMI Parking & Mobility Conference & Expo in Fort Worth, Texas, June 11 to 14 in Booth 505.
 
“ABM is a market leader in sustainable infrastructure, power, and bundled energy solutions, pioneering innovative and tech-forward services across the eMobility, EV and electrification industries,” said Scott Salmirs, President and Chief Executive Officer, ABM. “Our introduction of branded hardware and our investment in software marks an exciting next step placing us at the forefront of the dynamic EV infrastructure industry, by enabling us to offer our clients a single source for rapidly growing needs in this sector.”
 
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ABM Reports Second Quarter Fiscal 2023 Results

• Grew revenue 4.5% to $2.0 billion, including 2.3% organic growth
• Net income of $51.9 million and GAAP EPS of $0.78, a year-over-year increase of 6.5% and 8.3%, respectively
• Adjusted EBITDA of $137.0 million, up 15.2%, year-over-year
• Adjusted EPS of $0.90, up 1% year-over-year
 
NEW YORK, June 06, 2023 (GLOBE NEWSWIRE) — ABM (NYSE: ABM), a leading provider of facility solutions, today announced financial results for the second quarter of fiscal 2023.
 
“Our team’s focus on delivering exceptional service, controlling costs, and passing through price increases was key to generating our second quarter results,” said Scott Salmirs, ABM’s President & Chief Executive Officer. “Our revenue growth was driven by the RavenVolt acquisition, and also derived from our diversified end-markets, including favorable market dynamics in Aviation, Education and Manufacturing & Distribution.”
 
Mr. Salmirs continued, “We remain on target to achieve our 2023 financial goals, despite a more challenging than anticipated macro-environment, including a soft commercial real estate market. I am proud that our results are well above pre-pandemic levels, reflecting our resilient business model, improved operational efficiency and a more dynamic service mix, all of which we believe will be enhanced over time through our ELEVATE initiatives. As we move forward, I am confident that our team will continue to drive growth, execute on our strategy and build value for our shareholders as we work tirelessly to achieve our longer-term goals.”
 

Second Quarter Fiscal 2023 Results

For the second quarter of fiscal 2023, the Company reported revenue of $2.0 billion, up 4.5% over the prior year period, comprised of 2.3% organic growth, including $12.6 million of revenue recognized from parking project work completed in prior periods, and 2.2% growth from acquisitions. In all, revenue growth consisted of 22% organic growth in Aviation, driven by healthy travel markets and the parking project. Education organic revenue grew 6% on the strength of new accounts which came online late last year, and Manufacturing & Distribution grew 5% organically, driven by gains in the eCommerce, logistics and semiconductor markets. Technical Solutions (“ATS”) revenue increased 15%, reflecting the RavenVolt acquisition. On an organic basis, ATS revenue declined 6% primarily due to the timing of large projects in our backlog and program rollouts. Business & Industry (“B&I”) revenue declined 1% in total, comprised of acquisition growth of 1%, offset by a 2% decline in organic growth. The decline in B&I organic growth was primarily due to less work orders, partially offset by price increases.
 
GAAP net income increased to $51.9 million, or $0.78 per diluted share, as compared to $48.8 million, or $0.72 per diluted share last year, reflecting increases of 6.5% and 8.3%, respectively. These increases were primarily due to higher Aviation segment income, and the benefits of cost controls and price increases, partially offset by higher interest expense, a decrease in higher-margin virus protection services and work orders, and higher direct and indirect costs, primarily for labor. Net income margin was 2.6% compared to 2.6% last year.
 
Adjusted net income was $60.2 million, or $0.90 per diluted share, compared to $60.2 million, or $0.89 per diluted share recorded in the second quarter of fiscal 2022. Adjusted results exclude items impacting comparability. A description of items impacting comparability can be found in the “Reconciliation of Non-GAAP Financial Measures” table.
 
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ABM Announces Shuttle Transportation Expansion and New Bus Fleet Electrification Project at Tampa International Airport

TAMPA, Fla., June 02, 2023 (GLOBE NEWSWIRE) — ABM (NYSE: ABM), a leading provider of facility services, infrastructure solutions, and parking management today announced a multi-year extension of its long-standing relationship with Tampa International Airport (TPA). Through this extended partnership, ABM will continue its decade-long support of TPA’s employee shuttle service, including the expansion of the airport’s electric vehicle (EV) shuttle fleet with the addition of four new electric buses. ABM also manages customer parking services at TPA.
 
With more than 23 million passengers per year, equating to more than 60,000 travelers per day, TPA is among the top 30 largest airports in the country. These figures, and similarly increasing traveler rates across other leading airports, validate that the aviation industry is seeing a return to normalcy as passenger volumes reach pre-pandemic levels. As a result of these heightened numbers, parking and transportation infrastructure at airports also are experiencing a rise in demand. To meet this escalating need, TPA relies on ABM’s expertise as one of the nation’s largest parking and transportation management providers, which includes supporting over 2,000 client parking locations and shuttling more than 4.5 million passengers daily.
 
“From the airport employee to the traveling customer, our focus remains centered on delivering an outstanding experience for all those we serve across TPA,” said Larry DeLuca, Vice President, Aviation Landside Services Central, ABM. “We are particularly excited to support the continued adoption of electrification at TPA. Through this expansion of the airport’s shuttle fleet electrification, ABM and TPA are helping lead the aviation industry to a more electrified, forward-thinking and sustainable future.”
 
This partnership reflects ABM’s innovation and expansion as a national leader in eMobility infrastructure solutions, while also fitting seamlessly into TPA’s sustainability commitment to design and implement programs that are economically wise and environmentally and socially responsible. As ABM continues to bolster its presence in the eMobility and EV sectors, including the company’s recent introduction of its Smart Parking solution ABMVantage and the growth of its EV charging infrastructure portfolio, supporting electrification across parking and transportation fleets is a key area of focus.
 
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