Financial Data and Key Metrics Changes - Total revenue for the quarter decreased by 4.5% year over year to $627 million, impacted by lower snowfall and a decline in ancillary services [37][38] - Adjusted EBITDA for the first quarter was $19.6 million, an increase of approximately 19% compared to the prior year, with an adjusted EBITDA margin expansion of 110 basis points [38][39] - Net leverage for the quarter improved to 2.9 times compared to 4.9 times in the prior year, reflecting a significant reduction in debt [40] Business Line Data and Key Metrics Changes - Development revenue grew by 6.3% year over year, exceeding the full year guidance range of 2% to 5% for the segment [12][37] - Maintenance revenue was negatively impacted by a $22 million decrease due to lower snowfall, alongside a continued focus on core self-perform business [37][38] - The corporate segment saw a decrease in expenses year-over-year, indicating improved efficiency [62] Market Data and Key Metrics Changes - The company anticipates a continuation of healthy cash flow generation, driven by profitable growth and improved operating performance [43] - The backlog for development projects is strong, with sales extending into the first half of 2025, indicating positive market conditions [15][116] Company Strategy and Development Direction - The company is focused on becoming "one BrightView," emphasizing profitable growth and customer retention while streamlining operations [30][34] - A strategic sale of the non-core US lawn franchise business for approximately $52 million was executed to better align with core business objectives [28][65] - The company aims to leverage its size and scale to drive efficiencies and improve service delivery [35][120] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the development business, citing strong demand and a solid backlog [3][16] - The company reaffirmed its full-year guidance despite challenges in Q1, indicating confidence in snow revenue recovery and overall business momentum [9][11] - Management highlighted the importance of evaluating business performance on a full-year basis due to the variability of snowfall [39] Other Important Information - The company is committed to reinvesting proceeds from the sale of non-core businesses into its core operations to drive further efficiencies and growth [28][65] - The focus on improving customer retention and expanding relationships with existing customers is a key part of the company's strategy [30][59] Q&A Session Summary Question: What are the drivers of strength in the development business? - Management noted that the development business has benefited from the construction cycle and has a strong backlog, with optimism extending into 2025 [3][16] Question: How should we think about the cadence of EBITDA margins for the rest of the year? - Management indicated that Q1 margins were affected by snowfall timing, but they expect a rebound in Q2, maintaining confidence in the full-year margin guidance of 40 to 80 basis points [5][6] Question: Can you elaborate on the assumptions around snow revenue for the rest of the year? - Management reiterated their guidance for snow revenue, expecting it to fall within the range of $210 to $270 million despite Q1 shortfalls [9][11] Question: What are the growth expectations for development for the rest of the year? - Management expects Q2 to be slower due to seasonality but remains confident in achieving the full-year revenue guidance of 2% to 5% [12][14] Question: How does the company plan to measure success in capital allocation? - Management emphasized the need for strategic and cultural alignment in M&A activities, focusing on being better owners of acquired assets [120][132]

CHARLOTTE, N.C., Feb. 1, 2024 /PRNewswire/ -- Today EverSmith Brands announced the acquisition of U.S. Lawns, a franchised provider of commercial landscaping and snow removal services for U.S. commercial properties. This investment is the latest add-on to EverSmith Brands' portfolio of B2B service-based franchise companies.U.S. Lawns was acquired from BrightView Holdings, Inc. (NYSE: BV), a leading commercial landscaping services company in the United States. EverSmith Brands Acquires U.S. Lawns Post thi ...

BrightView Holdings (BV) reported $626.7 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 4.5%. EPS of $0.02 for the same period compares to -$0.01 a year ago.The reported revenue represents a surprise of -3.74% over the Zacks Consensus Estimate of $651.07 million. With the consensus EPS estimate being $0.05, the EPS surprise was -60.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to ...

BLUE BELL, Pa.--(BUSINESS WIRE)--BrightView Holdings, Inc. (NYSE: BV) (the “Company” or “BrightView”), the leading commercial landscaping services company in the United States, today reported unaudited results for the first quarter ended December 31, 2023. FIRST QUARTER FISCAL 2024 SUMMARY Total revenue decreased 4.5% year-over-year to $626.7 million Net loss decreased 13.2% year-over-year to $16.4 million; reflects 30-basis point improvement in Net Loss margin Adjusted EBITDA decreased 3.9% to $46.7 ...

Item 4. Controls and Procedures. We maintain disclosure controls and procedures as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act") that are designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated an ...

In its upcoming report, BrightView Holdings (BV) is predicted by Wall Street analysts to post quarterly earnings of $0.05 per share, reflecting an increase of 600% compared to the same period last year. Revenues are forecasted to be $651.07 million, representing a year-over-year decrease of 0.7%.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this ti ...

BLUE BELL, Pa.--(BUSINESS WIRE)--BrightView (NYSE: BV), the leading commercial landscaping services company in the United States, today published its 2024 Corporate Responsibility Report, highlighting the Company’s commitment to being a good corporate citizen focused on environmental stewardship, social responsibility, and corporate governance. The report is available on BrightView’s website. “This report reflects our team’s hard work over the past year and continued focus on corporate responsibility and ...

BLUE BELL, Pa.--(BUSINESS WIRE)--BrightView Holdings, Inc. (NYSE: BV) will release its earnings results for the first quarter fiscal year 2024 after the market closes on Wednesday, January 31, 2024. BrightView will hold a conference call to discuss its results the following morning, Thursday, February 1, 2024, at 8:30 a.m. EST. Instructions to join the conference call are provided below: Conference telephone number: United States Dial-in:   (833) 470-6205 International Participant Dial- ...

BrightView Holdings, Inc. (NYSE:BV) Q4 2023 Earnings Call Transcript November 16, 2023 10:00 AM ET Company Participants Chris Stoczko - VP, Finance Dale Asplund - President and CEO Brett Urban - CFO Conference Call Participants Bob Labick - CJS Securities George Tong - Goldman Sachs Andy Wittmann - Baird Operator Hello, everyone, and welcome to the BrightView Fourth Quarter Fiscal Year 2023 Earnings Call. My name is Bruno. I'll be operating your call today. [Operator Instructions]. I'll now hand over to you ...

MEDIA CONTACT: 4Q FY2023 Earnings Presentation | 24 • FY23 benefits of ~$25M not expected to occur in FY24 Forward-Looking Statements Leverage Size, Scale to drive profitable growth and operational efficiency Accretive M&A 4Q FY2023 Earnings Presentation | 6 4Q & Fiscal Year 2023 | Earnings Call November 16, 2023 NYSE: BV Included in this presentation are certain non-GAAP financial measures, such as "Adjusted EBITDA", "Adjusted EBITDA Margin", "Adjusted Net Income", "Free Cash Flow", Total Financial Debt", ...