ABM Industries Inc (ABM) plunged 5.23% in pre-market trading on Wednesday after the company reported a net loss of $11.7 million for fiscal Q4 2024, compared to a net income of $62.8 million in the prior year period. However, adjusted net income was $57.5 million, down 13% year-over-year.

The net loss was primarily attributable to a $59.7 million fair value adjustment to increase the contingent consideration related to ABM's acquisition of RavenVolt. The adjustment reflects RavenVolt's strong performance and outlook, leading to higher estimated cash payouts under the original earn-out provision.

Revenue for the quarter grew 4% year-over-year to $2.2 billion, driven by robust growth of 35% in the Technical Solutions segment and 11% in Aviation, offsetting softness in other segments. ABM repurchased $32 million worth of shares during the quarter. For fiscal 2025, the company expects adjusted EPS of $3.60 to $3.80 and adjusted EBITDA margin of 6.3% to 6.5%, reflecting anticipated revenue, margin, and earnings growth.