Why did ABM's EPS consistently beat forecasts in 2024?

ABM's EPS consistently beat forecasts in 2024 due to several key factors: 1. **Revenue Growth**: ABM's revenue increased by 3.3% year-over-year to $2.1 billion in Q3 2024, surpassing estimates of $2.04 billion. This growth was driven by strategic expansions and product innovations, which positioned the company well within its industry. The company's full-year revenue reached $8.36 billion, up 3.2% from FY 2023, exceeding analyst expectations. 2. **Segment Performance**: The Technical Solutions and Aviation segments experienced significant growth, with revenue increases of 25% and 13%, respectively. The Education segment also saw a 4% increase. These segments' strong performance contributed to the overall revenue outperformance. 3. **Adjusted EPS Improvement**: ABM's adjusted EPS at $0.94 in Q3 2024, represented a 19% increase year-over-year. The company raised its full-year EPS guidance to a range of $3.48-$3.55, reflecting confidence in future performance. 4. **Organic Growth**: ABM achieved organic growth of 2.8%, which, although modest, was a positive contributor to the revenue and EPS growth. 5. **Strategic Initiatives**: ABM's focus on new product launches and acquisitions, such as the acquisition of Quality Uptime Services, enhanced its market capabilities and contributed to revenue growth. In summary, ABM's EPS consistently beat forecasts in 2024 due to strong revenue growth, particularly in key segments, improved adjusted EPS, strategic initiatives, organic growth, and successful acquisitions. These factors collectively supported the company's financial performance and exceeded market expectations.