RTTNews | Dec 15, 2021 10:53AM EST

10:53 Wednesday, December 15, 2021 (RTTNews.com) - Specialty business service provider ABM Industries Incorporated (ABM) is trading 8% lower on the market despite reporting a better-than-expected fourth quarter. Earnings also managed to beat Street estimates. Net income reported by ABM Industries was $34.3 million or $0.50 per share compared to $53.1 million or $0.78 per share last term. On an adjusted basis, the earnings were $58.2 million or $0.85 per share, higher than $46.7 million or $0.69 per share last year. On average 6 analysts polled by Thomson Reuters expected the earnings to come at $0.80 per share. For 2022, ABM forecast earnings of $2.05 to $2.30 per share and $3.30 to $3.55 excluding special items. The analysts expect the earnings to be $3.52. The stock is currently trading at $42.09, down $3.85 or 8.38% since the previous close at $45.94. The stock opened at $45.97 in the morning. In the 52-week period, the shares have ranged between $36.31 and $55.48.

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