The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Samuel Kusswurm - William Blair & Company L.L.C., Research Division - Analyst
: Hey, this is Sam Kusswurm on for Tim. Scott, Earl, hope you both are doing well. I guess to start here, you shared that you're expecting the commercial
real estate market to remain soft in 2024 and EPS may be down year-over-year. if that proves true, I guess I'm wondering how you think about that
in terms of reaching your ELEVATE goals in 2025.
Question: Samuel Kusswurm - William Blair & Company L.L.C., Research Division - Analyst
: I appreciate that response. Maybe pivoting to your technical solution, but I think it was last quarter, there was some hope that the (inaudible) in
some of your technical solution projects was going to reverse in the back half here. But now that's looking more like in 2024. Can you give us a
pulse on how clients are viewing right now? And are the projects still considered paused? Or have any clients canceled them altogether.
Question: Joshua K. Chan - UBS Investment Bank, Research Division - Analyst
: Yes, I guess on your comments about 2024 EPS being slightly down, I guess does that scenario require total revenue to be down? Because otherwise,
I would have thought that the ATS recovery and a couple of small items could at least give you some EPS growth next year.
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SEPTEMBER 07, 2023 / 12:30PM, ABM.N - Q3 2023 ABM Industries Inc Earnings Call
Question: Joshua K. Chan - UBS Investment Bank, Research Division - Analyst
: That's right. That's good color there. And then my follow up. So I guess in the past, you've been able to do a good job of maintaining margins flattish
to maybe even higher during downturn. You mentioned the flexible labor model. Could you talk about the ability to do that again in this downturn
within B&I? What are the pluses and minuses of achieving that next year?
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