Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $599 million, reflecting a modest increase when adjusting for the unwinding of the BES business and the sale of U.S. Lawns in the prior year [19] - Adjusted EBITDA for Q1 was $52.1 million, an increase of $5.4 million or 12% year-over-year, with adjusted EBITDA margins expanding by 120 basis points [22][23] - Net leverage at the end of Q1 was 2.3 times, down from 2.9 times in the prior year, driven by lower debt levels and improved profitability [26] Business Line Data and Key Metrics Changes - In the Maintenance segment, adjusted EBITDA margins expanded by 140 basis points, indicating ongoing structural improvements [23] - The Development segment saw a revenue increase of 3.5% due to the conversion of high-quality backlog, with adjusted EBITDA reaching a record $17.5 million [20][23] Market Data and Key Metrics Changes - Snow revenue in the core maintenance business was relatively flat compared to the prior year, indicating stable performance despite seasonal fluctuations [19] - The company is experiencing improved employee turnover and customer retention, which are expected to contribute positively to future growth [19][22] Company Strategy and Development Direction - The company is focused on its "One BrightView" strategy, which aims to unify operations and improve employee and customer experiences [6][10] - Key objectives include enhancing employee turnover, customer retention, and leveraging size and scale to differentiate from competitors [10][16] - The company is committed to returning its land business to growth in the second half of 2025, supported by various initiatives [16][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing transformation and the positive momentum in employee and customer metrics [18][30] - The company is optimistic about achieving record EBITDA in 2025, with significant opportunities for sustainable growth [30] - Management emphasized the importance of customer retention as a critical driver for organic growth [48][49] Other Important Information - The company is hosting an Investor Day on February 19, where further details on growth strategies and financial outlook will be shared [5][34] - Recent capital expenditures were the highest in a single quarter since going public, reflecting a commitment to reinvest in employees and customers [25] Q&A Session Summary Question: Expectations for maintenance land organic growth this year - Management confirmed expectations for core growth to inflect into positive territory in the second half of the year, driven by improved employee turnover and customer retention [40][43] Question: Customer retention progress - Management indicated that customer retention has shown positive momentum, with significant room for improvement compared to historical levels [49][51] Question: Future margin expansion components - Management highlighted that margin expansion will come from various initiatives, including procurement and labor management improvements [60][66] Question: Labor availability and inflation concerns - Management expressed confidence in their labor force, noting a solid average tenure among frontline employees and ongoing efforts to reduce turnover [82][90] Question: Ancillary revenue trends - Management noted that customer retention directly correlates with ancillary revenue, with expectations for improvement as customer satisfaction increases [92][96] Question: Drivers of maintenance margin expansion - Management attributed maintenance margin expansion to restructuring efforts and significant SG&A savings, with expectations for continued improvement [104][108]

Financial Data and Key Metrics Changes - Total revenue for the first quarter was $599 million, showing a modest increase when adjusting for the unwinding of the BES business and the sale of U.S. Lawns in the prior year [12] - Adjusted EBITDA for the first quarter was $52.1 million, an increase of $5.4 million or 12% year-over-year, with adjusted EBITDA margins expanding by 120 basis points [15][16] - Net leverage at the end of the first quarter was 2.3 times, down from 2.9 times in the prior year period, driven by lower debt levels and improved profitability [17] Business Line Data and Key Metrics Changes - In the maintenance segment, revenue was relatively flat compared to the prior year, but improvements in employee turnover and customer retention were noted [13] - The development business saw a revenue increase of 3.5% due to the ongoing conversion of a high-quality backlog [13] - Adjusted EBITDA in the development segment reached $17.5 million, marking a record for the first quarter, with an adjusted EBITDA margin expansion of 80 basis points [16] Market Data and Key Metrics Changes - Employee turnover trends improved significantly, contributing to higher customer retention rates [10] - The company is pivoting to a four-day workweek in certain markets, which has been well received by both employees and customers [9] - The company reported that two-thirds of its markets have returned to stable year-over-year ancillary revenue levels, with only two markets facing headwinds [63] Company Strategy and Development Direction - The company is focused on embracing a unified "One BrightView" culture, prioritizing employees and customers to enhance its position as the employer and service provider of choice [8] - Strategic initiatives are underway to improve employee turnover and customer retention, which are expected to drive sustainable profitable growth [12] - The company plans to leverage its size and scale to differentiate itself from competitors and drive long-term shareholder value [8][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving previously provided 2025 financial guidance, anticipating another record EBITDA year [7] - The management team emphasized that they are still in the early stages of transformation, with significant opportunities for improvement and growth ahead [10][12] - Management highlighted the importance of customer retention as a key metric for future growth, indicating that improvements in this area will drive organic growth [30] Other Important Information - The company is hosting an Investor Day on February 19, where more details on its long-term growth strategy will be shared [4][20] - The company has completed a repricing of its $738 million term loan, reducing the interest rate by 50 basis points, resulting in annual cash interest savings of approximately $7.5 million [18] Q&A Session Summary Question: Expectations for maintenance land organic growth this year - Management confirmed that they expect core growth to inflect into positive territory in the second half of the year, with ongoing improvements in employee turnover and customer retention [25][26] Question: Customer retention progress - Management indicated that customer retention is trending positively, with significant room for improvement compared to historical levels [31][32] Question: Future margin lift components - Management discussed various levers for future margin expansion, including procurement initiatives and fleet management improvements [38][39] Question: Labor availability and inflation concerns - Management expressed confidence in their labor force, noting a solid average tenure among frontline employees and ongoing efforts to reduce turnover [53][54] Question: Ancillary revenue trends - Management highlighted a direct correlation between customer retention and ancillary revenue, indicating that happy customers are more likely to engage in discretionary spending [61][62] Question: Development backlog trends - Management reported that the development backlog is up about 6% to 7% year-over-year, indicating strong growth potential [102] Question: Margin expansion guidance - Management reiterated their confidence in maintenance margin expansion, with a target range of 12.6% to 13% for the year [72]

BrightView Holdings (BV) came out with quarterly earnings of $0.04 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this investment company would post earnings of $0.31 per share when it actually produced earnings of $0.30, delivering a surprise of -3.23%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.BrightView, which ...

Revenue Performance - Total revenue for Q1 fiscal 2025 decreased 4.4% year-over-year to $599.2 million, impacted by a $25.7 million decrease in commercial landscaping and a $7.3 million decrease in snow removal revenue [4]. - Net service revenues decreased to $599.2 million in Q4 2024 from $626.7 million in Q4 2023, representing a decline of approximately 4.5% [33]. - Development services revenue increased 3.5% year-over-year to $191.8 million, driven by higher project volumes [11]. Profitability Metrics - Net loss improved 36.6% year-over-year to $10.4 million, reflecting a 90-basis point increase in net loss margin to 1.7% [4]. - Gross profit for the quarter was $126.8 million, down from $133.8 million year-over-year, indicating a decrease of about 5.2% [33]. - Adjusted EBITDA increased 11.6% to $52.1 million, with an adjusted EBITDA margin expansion of approximately 120 basis points to 8.7% [4]. - Adjusted EBITDA increased to $52.1 million in Q4 2024, compared to $46.7 million in Q4 2023, reflecting a growth of approximately 9.6% [41]. - The net loss attributable to common stockholders improved to $19.4 million in Q4 2024 from $25.3 million in Q4 2023, a reduction of about 23.2% [33]. - Adjusted earnings per share improved to $0.04 in Q4 2024, compared to $0.02 in Q4 2023, reflecting a growth of 100% [41]. Cash Flow and Capital Expenditures - Year-to-date net cash provided by operating activities increased 130.9% to $60.5 million, up from $26.2 million in the prior year [14]. - Adjusted free cash flow decreased 74.6% to $4.4 million, down from $17.3 million in the prior year due to increased capital expenditures [15]. - Capital expenditures for Q1 fiscal 2025 were $58.7 million, significantly up from $10.1 million in the prior year, reflecting a 481.2% increase [15]. - Capital expenditures rose significantly to $58.7 million in Q4 2024, compared to $10.1 million in Q4 2023, marking an increase of approximately 480.2% [35]. - Cash flows provided by operating activities were $60.5 million in Q4 2024, up from $26.2 million in Q4 2023, representing an increase of about 130.5% [41]. Debt and Financial Position - Total financial debt as of December 31, 2024, was $864.4 million, a decrease from $877.3 million as of September 30, 2024 [16]. - Total net financial debt increased to $766.1 million, up $29.2 million from $736.9 million as of September 30, 2024 [16]. - Total net financial debt decreased to $766.1 million as of December 31, 2024, from $859.6 million a year earlier, a reduction of approximately 11% [47]. - The company reported a total financial debt of $864.4 million as of December 31, 2024, down from $924.1 million a year earlier, a decrease of about 6.5% [47]. - Long-term debt, net, slightly decreased from $802.5 million to $796.5 million, a decrease of approximately 0.5% [31]. - Total current liabilities decreased from $543.3 million to $479.3 million, a reduction of about 11.8% [31]. - Total assets decreased from $3,391.8 million as of September 30, 2024, to $3,307.6 million as of December 31, 2024, representing a decline of approximately 2.5% [31]. - Total stockholders' equity decreased from $1,275.3 million to $1,265.5 million, a decline of about 0.8% [31]. Guidance and Definitions - The company reaffirmed fiscal year 2025 guidance with total revenue expected between $2.750 billion and $2.840 billion and adjusted EBITDA between $335 million and $355 million [3]. - Adjusted EBITDA is defined as net income before interest, taxes, depreciation, and amortization, adjusted for certain non-cash and non-recurring items [23]. - Adjusted Free Cash Flow is defined as cash flows from operating activities less capital expenditures, net of proceeds from the sale of property and equipment [26]. - Total Net Financial Debt to Adjusted EBITDA ratio is calculated as Total Net Financial Debt divided by the trailing twelve-month Adjusted EBITDA [27]. - The company utilizes non-GAAP financial measures to provide a clearer understanding of its operating performance and financial position [22].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2024 OR Commission File Number: 001-38579 Securities registered pursuant to Section 12(g) of the Act: None BrightView Holdings, Inc. (Exact name of Registrant a ...

BrightView Holdings, Inc. (NYSE:BV) Q3 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Chris Stoczko - Vice President of Finance and Investor Relations Dale Asplund - President and Chief Executive Officer Brett Urban - Chief Financial Officer Conference Call Participants Tim Mulrooney - William Blair Bob Labick - CJS Securities Andy Wittmann - Robert W. Baird Greg Palm - Craig-Hallum Capital Group Jeffrey Stevenson - Loop Capital George Tong - Goldman Sachs Harold Antor - Jeffer ...

BrightView Holdings, Inc.  (BV) posted fourth-quarter fiscal 2024 results, wherein the top line declined year over year but surpassed the Zacks Consensus Estimate. The bottom line increased year over year but lagged the Consensus Estimate.However, the company’s fourth-quarter results confirm fiscal 2024 as a breakthrough year, highlighting continued business transformation. The One BrightView culture is gaining momentum, positioning the company for fiscal 2025 to be another record-setting year.More on BV’s ...

For the quarter ended September 2024, BrightView Holdings (BV) reported revenue of $728.7 million, down 2% over the same period last year. EPS came in at $0.30, compared to $0.19 in the year-ago quarter.The reported revenue represents a surprise of +0.12% over the Zacks Consensus Estimate of $727.81 million. With the consensus EPS estimate being $0.31, the EPS surprise was -3.23%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...

BrightView Holdings (BV) came out with quarterly earnings of $0.30 per share, missing the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.23%. A quarter ago, it was expected that this investment company would post earnings of $0.31 per share when it actually produced earnings of $0.32, delivering a surprise of 3.23%.Over the last four quarters, ...

Financial Performance - Fourth quarter total revenue decreased 2.0% year-over-year to $728.7 million, while full year revenue decreased 1.7% to $2,767.1 million[2][6] - Fourth quarter net income increased 56.1% year-over-year to $25.6 million, with a net income margin expansion of 10 basis points[2][4] - Fourth quarter Adjusted EBITDA increased 3.5% year-over-year to a record $105.2 million, with an Adjusted EBITDA margin expansion of 70 basis points[2][4] - Full year net cash provided by operating activities increased 58.3% year-over-year to $205.6 million, and free cash flow increased $65.1 million year-over-year to $145.3 million[2][14] - BrightView Holdings reported a net income of $66.4 million for the fiscal year ended September 30, 2024, compared to a net loss of $7.7 million in the previous year[28] - Adjusted EBITDA for the fiscal year 2024 was $324.7 million, an increase from $298.7 million in fiscal year 2023[29] - The company generated $205.6 million in net cash from operating activities, up from $129.9 million in the prior year[28] - Free cash flow for the fiscal year 2024 was $145.3 million, compared to $80.2 million in fiscal year 2023[29] Revenue Breakdown - Maintenance Services revenue decreased by $102.5 million, or 5.0%, for the fiscal year, while Development Services revenue increased by $50.8 million, or 6.7%[10][13] - Maintenance Services revenue decreased to $486.5 million for the three months ended September 30, 2024, down from $520.8 million in the prior year, a decline of 6.5%[26] - Development Services revenue increased to $244.1 million for the three months ended September 30, 2024, compared to $224.7 million in the same period last year, an increase of 8.0%[26] Debt and Financial Ratios - As of September 30, 2024, the Company's Total Net Financial Debt was $736.9 million, a decrease of $133.6 million from $870.5 million as of September 30, 2023[15] - The Total Net Financial Debt to Adjusted EBITDA ratio improved to 2.3x as of September 30, 2024, compared to 2.9x in the previous year and 4.8x in 2022[15] - The decrease in Total Net Financial Debt and the improvement in the debt to EBITDA ratio were primarily driven by an increase in Cash and Equivalents and repayment of $87.3 million under the receivable Financing Agreement[15] - Total Financial Debt as of September 30, 2024, is $877.3 million, down from $937.5 million in 2023[37] - Total Net Financial Debt decreased to $736.9 million in 2024 from $870.5 million in 2023, reflecting a significant reduction[37] - The Total Net Financial Debt to Adjusted EBITDA ratio improved to 2.3x in 2024, compared to 2.9x in 2023[37] - Long-term debt, net, was reported at $802.5 million for September 30, 2024, down from $888.1 million in the previous year[37] Cash and Assets - The company’s cash and cash equivalents increased significantly to $140.4 million as of September 30, 2024, compared to $67.0 million in the prior year, a growth of 109.7%[22] - Total current assets increased to $780.1 million as of September 30, 2024, compared to $742.1 million in the previous year, representing a growth of 5.4%[22] - Cash and cash equivalents at the end of the period increased to $140.4 million from $67.0 million year-over-year[28] Guidance and Future Outlook - Fiscal year 2025 guidance projects total revenue between $2.750 billion and $2.840 billion, and Adjusted EBITDA between $335 million and $355 million[3] - Forward-looking statements indicate potential risks including competitive pressures and the ability to retain customers, which could impact future performance[18] Company Strategy and Operations - The company emphasized a multi-faceted transformation aimed at sustainable growth and value creation for stakeholders[3] - The Company emphasizes sustainable solutions and best practices in its operations, aiming to engage clients and inspire communities[17] Non-GAAP Measures - The Company utilizes non-GAAP financial measures such as Adjusted EBITDA and Free Cash Flow to provide a clearer picture of its operational performance[20] - Adjusted EBITDA is defined as net income before interest, taxes, depreciation, and amortization, adjusted for non-cash and non-recurring items[21] - Total Financial Debt includes long-term debt and finance lease obligations, while Total Net Financial Debt is calculated by subtracting cash and equivalents[21] Other Financial Metrics - The company incurred business transformation and integration costs of $44.1 million for the fiscal year 2024, compared to $23.7 million in the previous year[31] - Equity-based compensation expenses were $20.5 million for the fiscal year 2024, slightly down from $22.3 million in fiscal year 2023[29] - The company reported a realized gain on divestiture of $43.6 million during the fiscal year 2024[29] - Cash paid for interest decreased to $67.7 million from $82.1 million year-over-year[28] - Adjusted earnings per share for the fiscal year 2024 were $0.76, compared to $0.42 in the previous year[29] - The tax impact of pre-tax income adjustments for the year ended September 30, 2024, was $12.8 million, compared to $34.1 million in 2023[34] - The Company experienced losses on the extinguishment of debt related to amendments to the Credit Agreement in fiscal years 2024 and 2023[33]