ABM Industries Incorporated (NYSE:ABM) Q2 2022 Results Conference Call June 8, 2022 5:00 PM ET

Company Participants

Paul Goldberg - Investor and Media Relations

Scott Salmirs - President and CEO

Earl Ellis - EVP and CFO

Conference Call Participants

Faiza Alwy - Deutsche Bank

Sean Eastman - KeyBanc

David Silver - CL King

Marc Riddick - Sidoti

Operator

Greetings, and welcome to the ABM Industries, Inc. Q2 2022 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Mr. Paul Goldberg, Investor and Media Relations. Please go ahead.

Paul Goldberg

Good afternoon, everyone, and welcome to our second quarter 2022 earnings call. My name is Paul Goldberg, and I’m the Senior Vice President of Investor Relations at ABM.

With me today are Scott Salmirs, our President and Chief Executive Officer; and Earl Ellis, our Executive Vice President and Chief Financial Officer.

Please note that earlier this afternoon, we issued our press release announcing our second quarter fiscal 2022 financial results. A copy of this release and an accompanying slide presentation can be found on our website, abm.com. After Scott and Earl’s prepared remarks, we will host a Q&A session.

But before I begin, I would like to remind you that our call and presentation today contain predictions, estimates and other forward-looking statements. Our use of the words estimate, expect or similar expressions are intended to identify these statements, and they represent our current judgment of what the future holds. While we believe them to be reasonable, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially. These factors are described in a slide that accompanies our presentation as well as our filings with the SEC.

During the course of this call, certain non-GAAP financial information will be presented. A reconciliation of historical non-GAAP numbers to GAAP financial measures is available at the end of the presentation and on the Company’s website under the Investor tab.

With that, I’d like to now turn the call over to Scott.

Scott Salmirs

Thanks, Paul. Good afternoon, and thank you all for joining us today to discuss our second quarter results.

ABM posted strong results in our second quarter, following the excellent results we recorded in our first quarter. Organic revenue growth of 7.5% was driven by solid demand in Business & Industry, Aviation, Manufacturing & Distribution and Technical Solutions, which benefited from robust growth in our e-mobility business. Our teams executed well in a challenging environment, driving high single-digit organic revenue growth while largely mitigating the impacts of labor availability and wage inflation.