ABM Industries Files 2024 10-K Report

Ticker: ABM · Form: 10-K · Filed: Dec 19, 2024 · CIK: 771497

Abm Industries INC /De/ 10-K Filing Summary
FieldDetail
CompanyAbm Industries INC /De/ (ABM)
Form Type10-K
Filed DateDec 19, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$0.01, $8.0 billion, $1.3 b, $200, $215 m
Sentimentneutral

Sentiment: neutral

Topics: 10-K, annual-report, financials

TL;DR

ABM dropped its 2024 10-K. Full year results are in.

AI Summary

ABM Industries Inc. reported its fiscal year 2024 results ending October 31, 2024. The company, headquartered at One Liberty Plaza in New York, NY, filed its 10-K report on December 19, 2024. Key financial details and operational performance for the fiscal year are outlined in this comprehensive filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of ABM Industries' financial health and operational performance for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard annual financial filing for a publicly traded company.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of ABM Industries Inc.?

ABM Industries Inc. operates in the Services-to-Dwellings & Other Buildings sector, SIC code 7340.

When was the company incorporated or organized?

The company is incorporated in Delaware (DE).

What is the filing date of this 10-K report?

This 10-K report was filed on December 19, 2024.

What is the fiscal year end for ABM Industries?

The fiscal year end for ABM Industries is October 31st.

What are the company's previous names?

The company was formerly known as ABM INDUSTRIES INC and AMERICAN BUILDING MAINTENANCE INDUSTRIES INC, with name changes occurring on January 10, 1995, and July 3, 1992, respectively.

Filing Stats: 4,270 words · 17 min read · ~14 pages · Grade level 15.4 · Accepted 2024-12-19 16:14:11

Key Financial Figures

Filing Documents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 1 PART I 2

Business

Item 1. Business. 2

Risk Factors

Item 1A. Risk Factors. 10

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments. 17

Cybersecurity

Item 1C. Cybersecurity 18

Properties

Item 2. Properties. 19

Legal Proceedings

Item 3. Legal Proceedings. 19

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 19 PART II 20

Market for Registrant's Common Equity, Related Stockholder Matters , and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters , and Issuer Purchases of Equity Securities. 20

[Reserved]

Item 6. [Reserved]. 22

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. 22

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. 40

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data. 41

Changes in and Disagreements w ith Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements w ith Accountants on Accounting and Financial Disclosure. 86

Controls and Procedures

Item 9A. Controls and Procedures. 86

Other Information

Item 9B. Other Information. 87

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 87 PART III 88

Directors, Executive Officers , and Corporate Governance

Item 10. Directors, Executive Officers , and Corporate Governance. 88

Executive Compensation

Item 11. Executive Compensation. 88

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 88

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence. 88

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services. 88 PART IV 89

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules. 89

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K for ABM Industries Incorporated and its subsidiaries (collectively referred to as "ABM," "we," "us," "our," or the "Company") contains both historical and forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. We make forward-looking statements related to future expectations, estimates, and projections that are uncertain and often contain words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "likely," "may," "outlook," "plan," "predict," "should," "target," or other similar words or phrases. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and assumptions that are difficult to predict. Factors that might cause such differences include, but are not limited to, those discussed in Part 1 of this Form 10-K under Item 1A., "Risk Factors," and we urge readers to consider these risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. 1 PART I

BUSINESS

ITEM 1. BUSINESS. General ABM Industries Incorporated, which operates through its subsidiaries (collectively referred to as "ABM," "we," "us," "our," or the "Company"), is a leading provider of integrated facility, infrastructure, and mobility solutions with a mission to make a difference, every person, every day . Our history dates back to 1909, when American Building Maintenance Company began as a window washing company in San Francisco with one employee. In 1985, we were incorporated in Delaware under the name American Building Maintenance Industries, Inc., as the successor to the business originally founded in 1909. In 1994, we changed our name to ABM Industries Incorporated. Since that time, we have grown into a multi-segment facility solutions company, primarily through strategic acquisitions and new service offerings, increasing our revenue to more than $8.0 billion. The acquisitions of OneSource and Linc Group in the early 2000s established ABM as a leader in the commercial janitorial market and also enhanced our ability to be a full-service facility solutions provider with new service offerings, including lighting, mechanical, and electrical "technical solutions." With demand increasing for industry-specific service providers, the acquisition of Air Serv established "Aviation" as our first industry group. In recent years, we have strategically acquired companies in the United Kingdom ("UK") and the Republic of Ireland ("Ireland"), which expanded our janitorial and technical solutions businesses overseas. In 2015, we began a comprehensive transformational initiative (" 2020 Vision ") to drive long-term, profitable growth through an industry-based, go-to-market approach. Through this initiative, we centralized key functional areas and industry groups, strengthened our sales capabilities, and initiated investments in service delivery tools and processes to help support standard operating practices that we believe remain foundational to our long-term succe

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