ABM Industries Inc (NYSE: ABM) shares plummeted 6.52% in pre-market trading on Friday, despite the company reporting second-quarter earnings that largely met or exceeded analyst expectations. The significant drop suggests investors may have been hoping for even stronger results or more optimistic guidance from the facilities services contractor.

For the fiscal second quarter ended April 30, ABM reported adjusted earnings of $0.86 per share, meeting the consensus estimate and slightly up from $0.82 a year earlier. Revenue came in at $2.11 billion, surpassing the analyst forecast of $2.06 billion and representing a 4.64% increase from the same period last year. The company's top-line growth was driven by a return to organic revenue growth in its Business & Industry segment.

Despite the seemingly positive results, investors appear to be focusing on potential headwinds. ABM mentioned that some projects were delayed in Q2, although they are expected to be realized in Q3. Additionally, the company maintained its fiscal 2025 adjusted EPS guidance range of $3.65 to $3.80, which may have disappointed investors hoping for an increase. The market's negative reaction suggests concerns about the company's growth trajectory or potential challenges in the coming quarters, overshadowing the solid Q2 performance.