ABM Industries Stock Drops 5.66%: Earnings Miss Shocks Wall Street

ABM Industries Incorporated declined 5.66% intraday. The company reported fiscal second-quarter profit of $42.2 million, with earnings of 67 cents per share, adjusted for one-time gains and costs, were 86 cents per share. The results did not meet Wall Street expectations, with the average estimate of four analysts surveyed by Zacks Investment Research being for earnings of 87 cents per share. The provider of cleaning and other maintenance services for commercial buildings, hospitals, and airports posted revenue of $2.11 billion in the period, surpassing Street forecasts.