The ADP of facility management.

IBM Global Services for physical infrastructure.

• Janitorial Services: Provides cleaning and sanitation solutions for various types of facilities.
• Facilities Engineering: Offers technical management and maintenance for building systems and infrastructure.
• Parking Services: Manages and operates parking facilities, including staffing and revenue control.
• Custodial Services: Delivers general upkeep and cleaning services to maintain facility appearance and hygiene.
• Landscaping and Ground Services: Provides maintenance for outdoor areas, including lawn care, plant management, and groundskeeping.
• Mechanical and Electrical Services: Offers maintenance, repair, and operational services for building mechanical and electrical systems.
• Vehicle Maintenance Services: Provides maintenance and other support services specifically for vehicle fleets, primarily for rental car providers.

ABM Industries (ABM) sells its integrated facility solutions primarily to other companies, not individuals. The company serves a diverse range of commercial, industrial, institutional, and government clients. Due to this diversified client base, ABM Industries does not typically have customer concentration where a single customer accounts for a significant portion (e.g., 10% or more) of its consolidated revenues. Therefore, specific names of "major customers" (individual companies) are not publicly disclosed.

Instead, ABM Industries serves various sectors, which can be considered its major customer categories:

• Business & Industry: Including general commercial enterprises, offices, and industrial facilities.
• Technology & Manufacturing: Companies within the technology sector and manufacturing plants.
• Education: Public and private educational institutions, from K-12 schools to universities.
• Aviation: Airports, airlines, and related services, such as vehicle maintenance for rental car providers at airports.
• Technical Solutions: Clients requiring specialized mechanical, electrical, and energy efficiency services.

Scott Salmirs, President and Chief Executive Officer

Scott Salmirs has served as President and Chief Executive Officer of ABM since January 2015. He joined ABM in 2003. Before his tenure at ABM, Salmirs spent over 20 years on the client side of the facilities business, holding leadership positions where he managed the building portfolios for companies such as CBRE, Goldman Sachs, and Lehman Brothers.

David Orr, Executive Vice President and Chief Financial Officer

David Orr was appointed Executive Vice President and Chief Financial Officer of ABM effective June 6, 2025. He has been with ABM since 2001, starting his career in the lighting services division. Prior to becoming CFO, Orr held various roles within the company, including Senior Vice President of Financial Planning and Analysis, where he was key in leading enterprise-wide financial forecasting, budgeting, and strategic financial planning.

Rene Jacobsen, Executive Vice President and Chief Operating Officer

Rene Jacobsen is the Executive Vice President and Chief Operating Officer at ABM, having joined the company in 2012. In this role, he is responsible for the overall operational performance and profitability of all ABM industry groups globally. Before joining ABM, Jacobsen held executive positions for over 30 years in large, complex service organizations within the facility services and integrated facilities management industries across Europe and North America. His previous roles include Executive Vice President and Chief Operating Officer at Temco Service Industries, Inc., and President and Chief Operating Officer of its European division.

Raúl Valentín, Executive Vice President and Chief Human Resources Officer

Raúl Valentín serves as Executive Vice President and Chief Human Resources Officer at ABM, a role he has held since September 2021, after joining ABM in 2019. He leads ABM's global human resources operations, communications, culture and inclusion, and philanthropy for over 100,000 team members. With more than 30 years of human resources and management experience, Valentín has held key HR leadership roles at companies such as Coty, Comcast, Covance Inc., Frito-Lay North America (a division of PepsiCo), and R.H. Macy & Co., Inc. He also serves on the board of Quanta Services Inc.

Miranda Tolar, Executive Vice President, General Counsel

Miranda Tolar was appointed Executive Vice President and General Counsel of ABM, effective January 1, 2025. She oversees the company's legal, compliance, risk, and safety organization. Tolar joined ABM in 2011 and most recently served as Senior Vice President and Deputy General Counsel, where she oversaw litigation and employment law. Prior to her time at ABM, she was a Partner in the labor and employment practice at the law firm Locke Lord LLP.

• Labor Challenges and Rising Costs: As a labor-intensive service provider, ABM is highly susceptible to risks associated with labor shortages, high employee turnover, and escalating labor costs. A significant portion of its workforce is unionized, further limiting the company's flexibility in managing labor expenses. These factors can directly impact service delivery, operational efficiency, and overall profitability.
• Highly Competitive Market and Pricing Pressures: The facility services industry in which ABM operates is characterized by intense competition and low barriers to entry. This competitive landscape often leads to pricing pressures, which can constrain ABM's ability to gain profitable business and maintain healthy profit margins. The company competes with numerous regional and local firms, as well as clients who may perform services in-house.
• Macroeconomic Headwinds and Reduced Demand: ABM's business is vulnerable to macroeconomic downturns and shifts in market dynamics. Ongoing prevalence of hybrid work models and elevated office vacancy rates, particularly in commercial office spaces, can reduce the demand for its services. Economic slowdowns, high interest rates, and changes in client spending habits can further negatively impact service demand and financial performance across various segments.

Here are some clear emerging threats for ABM Industries:

• Automation and Robotics in Facility Services: The increasing sophistication and cost-effectiveness of automated cleaning robots (for floors, windows, etc.) and robotic landscaping equipment could significantly reduce the demand for human labor in janitorial, custodial, and landscaping services. This automation has the potential to disrupt ABM's labor-intensive service delivery model and alter client expectations for facility maintenance.
• Disruption to Parking Services from Autonomous Vehicles and Ride-Sharing: The rise of autonomous vehicle fleets and the continued growth of ride-sharing services could lead to a significant decrease in personal car ownership and the overall demand for parking facilities. As vehicle utilization increases and parking needs diminish, a core segment of ABM's business could face substantial pressure.
• Impact of Electric Vehicles (EVs) on Vehicle Maintenance Services: The transition of rental car fleets to electric vehicles will fundamentally alter maintenance requirements. EVs have fewer moving parts, different service schedules, and new specialized repair needs compared to internal combustion engine vehicles. This shift could reduce the volume and change the nature of existing vehicle maintenance services provided by ABM to rental car companies, requiring significant adaptation or potentially leading to reduced revenue in this segment.

ABM Industries Incorporated provides integrated facility solutions across several key sectors. The addressable markets for its main products and services are substantial, primarily within the United States and globally.

Janitorial and Custodial Services

The global janitorial services market was valued at approximately USD 301.60 billion in 2024 and is projected to reach USD 412.76 billion by 2033, demonstrating a Compound Annual Growth Rate (CAGR) of 4% during this forecast period. In North America, this market is a significant contributor, with the U.S. janitorial service market estimated at over USD 97.6 billion. Another report estimates the U.S. contract cleaning services market reached USD 90.37 billion in 2024 and is projected to attain USD 163.74 billion by 2033, growing at a CAGR of 6.85%.

Facilities Engineering and Maintenance (Mechanical and Electrical Services)

The broader U.S. facility management market, which includes facilities engineering and maintenance, was valued at USD 365.93 billion in 2025 and is estimated to grow to USD 434.16 billion by 2031, with a CAGR of 2.89%. For engineering services globally, the market was valued at USD 3.50 trillion in 2024 and is projected to reach USD 5.51 trillion by 2034, growing at a CAGR of 4.64%. Specifically, the U.S. engineering services market size is estimated to be USD 0.45 trillion in 2026.

Parking Services

The U.S. parking services market is expected to reach USD 30 billion in 2026 and expand to USD 42 billion by 2033, with a CAGR of 4.9%. Within this, the parking management services segment is projected to account for 64% of the U.S. parking services market in 2026. Separately, the U.S. parking management market size was valued at USD 5.20 billion in 2024 and is projected to grow to USD 15.05 billion by 2030, at a CAGR of 20.4%. Globally, the parking management market is valued at USD 6.99 billion in 2025 and is predicted to reach approximately USD 16.60 billion by 2035, growing at a CAGR of 9.03%.

Landscaping and Ground Services

The U.S. landscaping services industry has a market size of USD 188.8 billion in 2025. Other estimates indicate the U.S. landscaping services market size was USD 86.86 billion in 2025 and is projected to reach USD 152.59 billion by 2034, with a CAGR of 6.46% during the 2026-2034 period. Another report states the U.S. landscaping services market is expected to reach a projected revenue of USD 203,803.4 million by 2030, growing at a CAGR of 7.3% from 2023 to 2030.

Vehicle Maintenance and Other Services to Rental Car Providers

The U.S. automotive repair and maintenance service market was around USD 183.4 billion in 2023 and is estimated to grow at a CAGR of 10.1% between 2024 and 2032, reaching USD 473.9 billion by 2032. The maintenance segment alone generated over USD 65.8 billion in 2024. The United States vehicle rental market is estimated at USD 51.13 billion in 2026 and is expected to reach USD 66.72 billion by 2031, at a 5.47% CAGR. The U.S. car rental and leasing market is projected to reach USD 242.43 billion by 2026.

ABM Industries (ABM) anticipates several key drivers for its future revenue growth over the next two to three years:

1. Organic Growth in Key Segments: The company expects robust organic growth, particularly within its Aviation, Technical Solutions, and Manufacturing & Distribution (M&D) segments. In Q1 2026, Aviation revenue grew 10% year-over-year, supported by healthy global travel demand and the ongoing ramp-up of new contract wins, including a significant passenger services contract at Heathrow Airport expected to fully contribute in the second quarter of 2026. M&D revenue increased 7% in Q1 2026, driven by new contract acquisitions in the technology sector and continued client expansions. Technical Solutions saw 14% revenue growth (7% organic) in Q1 2026, fueled by strong demand for electrification-related services and microgrids.
2. Strategic Acquisitions: The acquisition of WGNSTAR, which closed after Q1 2026, is a significant driver. This acquisition is projected to add approximately one point of revenue growth for fiscal year 2026, contributing to a total projected growth of 4% to 5%. WGNSTAR strategically enhances ABM's presence and technical capabilities in the rapidly expanding semiconductor fabrication market.
3. New Sales Bookings and Client Expansions: ABM reported record new sales bookings of $1.9 billion in fiscal year 2025, representing a 12% increase over the previous year. These diversified bookings provide confidence in the company's growth trajectory for fiscal 2026. The onboarding and ramp-up of large new clients, alongside continued expansions with existing clients, particularly in the technology sector, are expected to fuel future revenue.
4. Price Escalations: Price escalations are contributing to revenue growth, as noted in the Business & Industry segment during Q1 2026. This indicates the company's ability to implement price adjustments and manage its contract economics effectively.
5. Expansion into High-Growth Service Areas: ABM is strategically positioning itself to move further up the value stream and expand its technical capabilities. This includes focusing on high-growth markets such as semiconductors (supported by the WGNSTAR acquisition) and energy resiliency, as well as expanding services within the education sector, targeting larger universities and multi-campus systems.

Share Repurchases

• ABM Industries repurchased $121.3 million in fiscal year 2025.
• The company executed share repurchases of $138.1 million in fiscal year 2023 and $97.5 million in fiscal year 2022.
• In fiscal year 2024, ABM repurchased $55.8 million of common stock, with $32.0 million occurring in the fourth quarter.
• As of December 2023, the total share repurchase authorization was increased to $450 million.

Share Issuance

• The number of common shares outstanding decreased over the last few fiscal years, indicating that share repurchases have outweighed any share issuances (e.g., for employee compensation). Common shares outstanding were 65.59 million in fiscal 2021, decreasing to 62.85 million in fiscal 2022, 62.20 million in fiscal 2023, and 60.18 million in fiscal 2024.

Outbound Investments

• In December 2025, ABM acquired WGNSTAR for $275 million, expanding its services in the semiconductor and high-technology industries.
• ABM acquired Quality Uptime Services in June 2024 for $119 million, enhancing its critical power infrastructure maintenance and support offerings.
• Other significant acquisitions include RavenVolt for $170 million in August 2022, focusing on microgrid solutions, and Able Services for $830 million in August 2021, which bolstered engineering and janitorial services.

Capital Expenditures

• ABM Industries reported capital expenditures of $79.3 million in fiscal year 2025.
• Capital expenditures were $59.4 million in fiscal year 2024, $65.0 million in fiscal year 2023, and $52.9 million in fiscal year 2022.
• In fiscal year 2021, the company's capital expenditures amounted to $34.3 million.