BrightView Holdings, Inc. (NYSE:BV) Q3 2023 Earnings Conference Call August 3, 2023 10:00 AM ET Company Participants Jim Abrahamson - interim President & CEO Brett Urban - CFO Chris Stoczko - VP, Finance Conference Call Participants Sam Kusswurm - William Blair Pete Lukas - CJS Securities George Tong - Goldman Sachs Justin Hauke - Robert W. Baird Operator Greetings, and welcome to the BrightView Q3 Fiscal 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being rec ...

During the nine months ended June 30, 2023, the Company acquired, through a series of separate transactions, 100% of the operations of three unrelated companies, all of which were allocated to Maintenance Services. The Company paid approximately $13.8 in aggregate consideration for the acquisitions, net of cash acquired. The Company accounted for the business combinations under the acquisition method and, accordingly, recorded the assets acquired and liabilities assumed at their estimated fair market values ...

BrightView Holdings, Inc. (NYSE:BV) Q2 2023 Earnings Conference Call May 4, 2023 10:00 AM ET Company Participants Faten Freiha - Vice President of Investor Relations Paul Raether - Chairman Andrew Masterman - Chief Executive Officer Brett Urban - Chief Financial Officer Conference Call Participants Tim Mulrooney - William Blair Bob Labick - CJS Securities George Tong - Goldman Sachs Andy Wittmann - Robert W. Baird Operator Good morning, ladies and gentlemen and welcome to the BrightView Q2 Fiscal 2023 Earni ...

Project Accelerate Existing Initiatives Strong material cost management delivers margin improvement 2Q FY2023 Earnings Presentation | 7 ➢ Leader in a fragmented industry with multiple growth opportunities; organic and M&A ➢ Disciplined approach to enhance operational performance and optimize costs Introductory Information This presentation contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 th ...

8. Fair Value Measurements and Derivative Instruments Fair value is defined as the price at which an orderly transaction to sell an asset or to transfer a liability would take place between market participants at the measurement date under current market conditions (that is, an exit price at the measurement date from the perspective of a market participant that holds the asset or owes the liability). Fair Value Hierarchy The following hierarchy for inputs used in measuring fair value should maximize the use ...

BrightView Holdings, Inc. (NYSE:BV) Q1 2023 Earnings Conference Call February 7, 2023 10:00 AM ET Company Participants Faten Freiha - VP of IR Andrew Masterman - CEO Brett Urban - CFO Conference Call Participants Bob Labick - CJS Securities Tim Mulrooney - William Blair George Tong - Goldman Sachs Justin Hauke - Robert W. Baird Andrew Steinerman - JPMorgan Operator Good morning, and a warm welcome to the BrightView First Quarter Fiscal Year 2023 Earnings Conference Call. My name is Candice, and I will be yo ...

Title of Each Class Trading Symbol Name of exchange on which registered ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant ☒ ☐ Table of Contents Table of Contents For the three months ended December 31, 2022, Net loss was $18.9 million, compared to $12.8 million in the 2021 period due to the changes noted above. Net loss as a percentage of revenue was 2.9% and 2.2% for the three months ended December 31, 2022 and 2021, respectively. | -- ...

BrightView Holdings, Inc. (NYSE:BV) Q4 2022 Earnings Conference Call November 17, 2022 10:00 AM ET Company Participants Faten Freiha - VP of IR Andrew Masterman - CEO Brett Urban - CFO Conference Call Participants George Tong - Goldman Sachs Sam Kusswurm - William Blair Peter Lukas - CJS Securities Operator Hello, and welcome to today's BrightView Holdings, Incorporated Fourth Quarter Fiscal 2022 Results Call. My name is Bailey, and I'll be the moderator for today's call. [Operator Instructions] I would now ...

Financial Performance - BrightView generated net service revenues of $2,774.6 million for the fiscal year ended September 30, 2022, with a net income of $14.0 million and an Adjusted EBITDA of $287.9 million, resulting in a net income margin of 0.5% and an Adjusted EBITDA margin of 10.4%[27]. - Net service revenues for the fiscal year ended September 30, 2022 increased by $221.0 million, or 8.7%, to $2,774.6 million from $2,553.6 million in 2021[190]. - Gross profit for the fiscal year ended September 30, 2022 increased by $24.0 million, or 3.7%, to $674.8 million, with a gross margin decrease of 120 basis points to 24.3%[191]. - Selling, general and administrative expense for the fiscal year ended September 30, 2022 increased by $26.9 million, or 5.3%, to $534.9 million, while as a percentage of revenue decreased to 19.3%[192]. - Adjusted Net Income for the fiscal year ended September 30, 2022 was $100.9 million, compared to $126.3 million in 2021[188]. - Free Cash Flow for the fiscal year ended September 30, 2022 was $6.7 million, a significant decrease from $96.7 million in 2021[188]. - For the fiscal year ended September 30, 2022, net income decreased by $32.3 million, to $14.0 million, from $46.3 million in the 2021 period[197]. Segment Performance - The Maintenance Services segment accounted for $2,082.0 million in net service revenues, including $256.3 million from snow removal services, with a Segment Adjusted EBITDA of $278.8 million and a Segment Adjusted EBITDA Margin of 13.4%[34]. - The Development Services segment generated net service revenues of $698.8 million and a Segment Adjusted EBITDA of $73.7 million, with a Segment Adjusted EBITDA Margin of 10.5%[37]. - Maintenance Services net service revenues increased by $99.1 million, or 5.0%, to $2,082.0 million for the fiscal year ended September 30, 2022, compared to $1,982.9 million in 2021[203]. - Development Services net service revenues increased by $123.9 million, or 21.6%, to $698.8 million for the fiscal year ended September 30, 2022, compared to $574.9 million in 2021[206]. - Segment Adjusted EBITDA for Maintenance Services decreased by $20.8 million, to $278.8 million, with a margin decrease of 170 basis points to 13.4%[205]. - Segment Adjusted EBITDA for Development Services increased by $8.5 million, to $73.7 million, with a margin decrease of 80 basis points to 10.5%[209]. Market Position and Growth Potential - BrightView holds a 2.5% market share in the $83 billion commercial landscape maintenance and snow removal market, indicating significant potential for future consolidation[42]. - The commercial landscaping services industry is projected to grow at a 3.5% CAGR from 2017 through 2026, driven by stable demand for essential services[39]. - BrightView serves approximately 9,500 office parks and corporate campuses, 7,500 residential communities, and 550 educational institutions, showcasing its extensive customer base[27]. - The company is the largest provider of commercial landscaping services in the U.S., with revenues approximately 6 times those of its next largest competitor[162]. Workforce and Employment - As of September 30, 2022, the company had approximately 21,000 employees, including 20,300 full-time and 700 part-time employees, with 4% covered by collective bargaining agreements[49]. - The company employed approximately 2,100 seasonal workers in 2022 through the H-2B visa program[49]. - The Maintenance Services segment had 17,300 full-time employees, while the Development Services segment had 2,700 full-time employees[49]. - The company faces high competition for talent, which may lead to increased labor costs and challenges in attracting and retaining qualified employees[94]. - The landscape services industry is labor-intensive, and high turnover rates among hourly workers could disrupt service delivery and increase operational costs[94]. Operational Efficiency and Technology - The company has invested in technology to enhance operational efficiencies, including the BrightView Connect application for customer service requests[64]. - The company operates a fleet of approximately 16,000 trucks and trailers, believed to be the largest in the commercial landscape maintenance industry[68]. - The company focuses on developing new customers and increasing penetration at existing customers through a field-based sales approach with over 210 business developers[67]. Financial Obligations and Risks - As of September 30, 2022, the company had total indebtedness of $1,342.7 million, with availability under the Revolving Credit Facility and the Receivables Financing Agreement of $250.9 million and $76.6 million, respectively[112]. - For the year ended September 30, 2022, the company's interest expense was $53.3 million, compared to $42.3 million for the year ended September 30, 2021, indicating a significant increase in debt service obligations[113]. - The company may not be able to generate sufficient cash flow to satisfy its significant debt service obligations, which could adversely affect its financial condition and results of operations[116]. - The company faced significant liquidity requirements primarily due to debt service obligations[220]. Regulatory and Compliance Challenges - The company is subject to various federal, state, and local laws and regulations, which can increase operating costs and impact service delivery[61]. - The company is subject to various federal, state, and local regulations, and non-compliance could result in significant fines, penalties, and operational restrictions[100]. - Changes in environmental regulations could lead to significant costs and liabilities, adversely affecting the company's reputation and financial performance[102]. - The company is subject to new and emerging data privacy laws, and failure to comply could result in substantial fines or penalties, adversely affecting its business[110]. Acquisitions and Growth Strategy - The company has completed 36 acquisitions since 2017, which have involved various amounts of goodwill, impacting its financial position[99]. - The company continues to consider acquisition opportunities, with liquidity supported by cash generated from operations and existing cash and cash equivalents[217]. - The company acquired eight businesses during the fiscal year ended September 30, 2022, paying approximately $93.1 million in aggregate consideration[183]. Seasonal Variability and External Factors - The company’s services experience seasonal variability, with higher revenues typically in the spring and summer seasons[56]. - Weather conditions and climate change significantly impact service demand and operational capabilities, potentially leading to lost revenues[86]. - Revenues from snow removal services are highly dependent on snowfall levels, with historical averages of 3,865.0 inches and 3,755.0 inches of annual snowfall over the past ten and thirty years, respectively[91]. - The ongoing effects of the COVID-19 pandemic have disrupted operations and reduced demand for ancillary services, adversely affecting financial performance[88].

BrightView Holdings, Inc. (NYSE:BV) Q3 2022 Earnings Conference Call August 4, 2022 10:00 AM ET Company Participants Faten Freiha - Vice President of Investor Relations Andrew Masterman - Chief Executive Officer John Feenan - Chief Financial Officer Brett Urban - Incoming Chief Financial Officer Conference Call Participants Tim Mulrooney - William Blair George Tong - Goldman Sachs Justin Hauke - Baird Pete Lukas - CJS Securities Operator Good morning and welcome to today's BrightView Holdings Incorporated T ...