Stock Track | ABM Industries Soars 6.08% on Strong Q4 Revenue, WGNSTAR Acquisition, and Dividend Hike

Stock Track12-17

ABM Industries Inc (ABM) saw its stock price surge 6.08% during intraday trading on Wednesday, driven by a combination of positive financial results, a strategic acquisition, and a dividend increase.

The company reported Q4 revenue of $2.3 billion, slightly beating analyst estimates of $2.28 billion. The Technical Solutions segment was a standout performer, with revenue growing 16% year-over-year due to increased microgrid project activity. ABM also announced the acquisition of WGNSTAR, a provider of managed workforce solutions for the semiconductor industry, in a $275 million deal. Additionally, the company raised its quarterly dividend by 9.4% to $0.29 per share, marking its 58th consecutive annual increase.

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