ABM Industries Inc (ABM) released its second quarter results on Wednesday, June 9, 2021. The company reported net earnings of $0.46 per share for the second quarter ending April 30, 2021. Earnings for this past quarter were up 122 percent compared to the same period a year ago.
The company was founded in 1909 and is headquartered in New York, New York. ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments.
ABM Industries' revenue decreased 8 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 15.65% for the second quarter compared to the same period in the previous year, and operating margins decreased to 3.36% over the same period. Net earnings for past trailing twelve months were $214.8 million, up 984% from the prior year.
Moving on to the balance sheet, ABM Industries' cash levels dropped 22% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 22.71% this past year. The current ratio for ABM Industries now stands at 1.41. The company increased shares outstanding by 0.49%.
Shares of ABM are currently trading around $48.54. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 15.25 and price to book ratio of 2.06.