Scott Salmirs on share repurchase
From ABM Industries Incorporated Q1 2026 Earnings Call · · Investing 101
“We took the opportunity this quarter to go ahead and cover dilution plus roughly an incremental $60 million of share buyback on top of that. Given that our target range is below three times, I think what you should expect in the near-term future is for us to use our free cash flow to delever back towards that range.”
On , Scott Salmirs, President, Chief Executive Officer & Director at ABM INDUSTRIES INC, spoke about share repurchase during ABM Industries Incorporated Q1 2026 Earnings Call on Investing 101.
About Scott Salmirs
Scott Salmirs, president and CEO of ABM Industries, discussed the company’s first-quarter 2026 results during a March 10 earnings call. He described the quarter as a “solid start” and noted 5.5% organic revenue growth, nearly $50 million in free cash flow, and over $90 million in share repurchases. Salmirs said margin performance in technical solutions fell short of expectations due to project timing and mix, but he stated that underlying demand and backlog trends are healthy and that the company’s full-year outlook is unchanged. Salmirs addressed several strategic topics during the call. He said ABM believes artificial intelligence will “enhance ABM’s capabilities rather than disintermediate our core services,” citing the dynamic nature of the company’s work environments. He highlighted accelerating investment in semiconductor manufacturing, referencing a PwC forecast of over $1.5 trillion in fabrication facility investment through 2030, and noted that ABM’s acquisition of WGMstar strengthened its presence in that sector. Salmirs also said ABM chose not to renew a large contract with Transport for London, worth about $70 million in annual revenue, because the company “didn’t see a path to increasing margin” under the contract’s structure. He added that ABM has not observed deterioration in applicant flow or staffing levels, despite prior narratives around immigration.