ABM INDUSTRIES INC /DE/ Earnings Per Share Disclosure
| Years Ended October 31, | |||||||||||||||||||||||
| (in millions, except per share amounts) | 2025 | 2024 | 2023 | ||||||||||||||||||||
| Net income | $ | 162.4 | $ | 81.4 | $ | 251.3 | |||||||||||||||||
| Weighted-average common and common equivalent shares outstanding — Basic | 62.3 | 63.2 | 66.0 | ||||||||||||||||||||
| Effect of dilutive securities | |||||||||||||||||||||||
| RSUs | 0.3 | 0.3 | 0.2 | ||||||||||||||||||||
| Performance shares | 0.1 | 0.1 | 0.2 | ||||||||||||||||||||
| Weighted-average common and common equivalent shares outstanding — Diluted | 62.7 | 63.6 | 66.3 | ||||||||||||||||||||
Net income per common share | |||||||||||||||||||||||
| Basic | $ | 2.61 | $ | 1.29 | $ | 3.81 | |||||||||||||||||
| Diluted | $ | 2.59 | $ | 1.28 | $ | 3.79 | |||||||||||||||||
| Years Ended October 31, | |||||||||||||||||
| (in millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Anti-dilutive | 0.2 | 0.1 | 0.3 | ||||||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.