NEW YORK, March 08, 2023 (GLOBE NEWSWIRE) 鈥 色花堂(NYSE: ABM), a leading provider of facility solutions, today announced financial results for the first quarter of fiscal 2023.
鈥淥ur teams executed well to help mitigate labor and other inflationary pressures, as well as the anticipated reduction in disinfection-related work orders, to deliver a solid first quarter鈥, said Scott Salmirs, ABM鈥檚 President & Chief Executive Officer. 鈥淥ur performance also reflected favorable demand for our core janitorial, engineering, and parking services, most notably in Manufacturing & Distribution, Aviation and Education, offset by higher interest expense and the protracted timing of programs in Technical Solutions as we manage through supply chain delays.鈥
Mr. Salmirs continued, 鈥淭hrough varied economic cycles, ABM鈥檚 financial resilience remains a hallmark. We continue to expect demand to remain solid, but more modest than the pandemic-driven recovery we experienced last year. I am confident in our team鈥檚 ability to deliver on our strong ATS backlog, and achieve our 2023 commitments through continued implementation of price increases, strong execution in the field, deployment of our ELEVATE initiatives and effective cost management actions.鈥
鈥淭he essential nature of the services we provide remains uniquely valuable to our clients as they strive to create and maintain environments that are clean, healthy, energy efficient and attractive for both employees and customers. Our financial strength enables us to invest in initiatives that advance these objectives, positioning 色花堂for sustained success over the long-term.鈥
First Quarter Fiscal 2023 Results
For the first quarter of fiscal 2023, the Company reported revenue of $2.0 billion...