BrightView(BV) - 2021 Q1 - Earnings Call Presentation

Financial Performance & Guidance - BrightView's Q2 2021 revenue increased by 16.6% to $651.9 million, compared to $559.1 million in Q2 2020[26] - Adjusted EBITDA for Q2 2021 was $66.8 million, a 71.7% increase from $38.9 million in Q2 2020, with a margin increase of 320 bps to 10.2%[4, 28] - The company anticipates total revenue between $2.48 billion and $2.52 billion and Adjusted EBITDA between $302 million and $310 million[7, 8] - For the first half of FY2021, total revenue reached $1,206.3 million compared to $1,129.8 million in the first half of FY2020, and Adjusted EBITDA was $119.3 million compared to $90.5 million[29] Segment Performance - Maintenance Services revenue increased by 29.6% to $535.7 million in Q2 2021, compared to $413.5 million in Q2 2020[26] - Development Services revenue decreased by 20.0% to $117.1 million in Q2 2021, compared to $146.3 million in Q2 2020[26] - Maintenance Services Adjusted EBITDA increased by 77.6% with a 370 basis point margin expansion to 13.5%[28] - Development Services Adjusted EBITDA decreased by 23.2% with a 40 basis point contraction to 9.3%[28] M&A and Growth - BrightView completed 5 acquisitions during FY21, with a pipeline exceeding $400 million in revenue[5] - The company's annualized revenue in 2021 from acquisitions is approximately $100 million[12] - The company experienced 10% organic growth in its contract snow book of business[4] Leverage and Liquidity - BrightView's leverage ratio as of Q2 2021 was 3.5x, with total liquidity of $401.5 million[4] - Net debt to TTM Adjusted EBITDA ratio improved to 3.5x at Q2 2021 from 4.1x at Q2 2020[32] - Total liquidity increased to $401.5 million as of March 31, 2021, compared to $235.5 million as of March 31, 2020[33]