ABM INDUSTRIES INC /DE/ 10-Q

Financial Statements (unaudited)

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS. ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in millions, except share and per share amounts) July 31, 2026 October 31, 2025 ASSETS Current assets Cash and cash equivalents $ 110.5 $ 104.1 Trade accounts receivable, net of allowances of $ 24.0 and $ 25.5 at July 31, 2026 and October 31, 2025, respectively 1,478.8 1,471.1 Costs incurred in excess of amounts billed 209.8 193.7 Prepaid expenses 111.3 91.2 Other current assets 82.0 78.6 Total current assets 1,992.4 1,938.7 Other investments 32.1 48.6 Property, plant and equipment, net of accumulated depreciation of $ 415.8 and $ 379.8 at July 31, 2026 and October 31, 2025, respectively 211.9 177.2 Right-of-use assets 91.8 95.1 Other intangible assets, net of accumulated amortizati on of $ 575.8 and $ 532.2 at July 31, 2026 and October 31, 2025, respectively 328.5 243.2 Goodwill 2,741.2 2,591.1 Other noncurrent assets 203.0 175.5 Total assets $ 5,601.0 $ 5,269.5 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Current portion of debt, net $ 41.8 $ 29.4 Trade accounts payable 430.8 401.2 Accrued compensation 190.5 195.0 Accrued taxes — other than income 44.6 48.1 Deferred revenue 153.4 74.7 Insurance claims 204.5 200.8 Income taxes payable 3.8 4.0 Current portion of lease liabilities 27.7 28.2 Other accrued liabilities 304.7 324.1 Total current liabilities 1,401.8 1,305.7 Long-term debt, net 1,732.2 1,537.1 Long-term lease liabilities 80.4 83.7 Deferred income tax liability, net 69.0 39.9 Noncurrent insurance claims 470.2 459.3 Other noncurrent liabilities 53.1 54.3 Noncurrent income taxes payable 4.1 3.9 Total liabilities 3,810.8 3,483.8 Commitments and contingencies Stockholders’ Equity Preferred stock, $ 0.01 par value; 500,000 shares authorized; none issued — — Common stock, $ 0.01 par value; 100,000,000 shares authorized; 58,614,592 and 60,176,611 shares issued and outstanding at July 31, 2026 and October 31, 2025, respectively 0.6 0.6 Additional paid-in capital 360.7 437.4 Accumulated other comprehensive loss, net of taxes ( 17.9 ) ( 20.5 ) Retained earnings 1,446.8 1,368.1 Total stockholders’ equity 1,790.2 1,785.6 Total liabilities and stockholders’ equity $ 5,601.0 $ 5,269.5 See accompanying notes to unaudited consolidated financial statements. 3 ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES CONSOLIDATED STATEMENTS