ABM Industries Reports Strong Q3 Results, Expands Semiconductor and Data Center Operations
On September 8, 2026, ABM Industries (NYSE:ABM) reported record revenue of $2.3 billion for its fiscal third quarter, up 4.2% year-over-year, with adjusted earnings per diluted share rising by 27% to $1.04. The company also raised full-year guidance and free cash flow forecasts due to strong performance in high-growth areas like semiconductors and data centers. Analysts from Deutsche Bank, Baird, and Truist increased their price targets for ABM while maintaining Hold or Neutral ratings. They cited the firm's progress in scaling its higher-margin business lines despite ongoing competitive pressures elsewhere. Revenue tied to semiconductor facilities, microgrids, and data centers reached $775 million over nine months, now accounting for 11% of total revenue. However, some analysts remain cautious due to weaker performance in other segments such as Business and Industry services, where a large UK client departure caused a 2.6% decline in revenue. Aviation margins also fell amid cost pressures from airline customers.
Tickers: $ABM
Topics: analyst ratings data centers free cash flow semiconductors