BrightView Reports First Quarter Fiscal 2023 Results – BrightView Hldgs (NYSE:BV… – Press Release

  • Total revenue of $655.9 million, reflects year-over-year growth of 10.8%, including 5.5% total organic growth.
  • Maintenance organic revenue growth of 1.5%, seventh consecutive quarter of land organic growth.
  • Development organic revenue growth of 5.9%, reflecting continuation of solid growth.
  • Net Loss of $18.9 million compared to prior year Net Loss of $12.8 million, reflecting a 70-basis point contraction of Net Loss margin.
  • Adjusted EBITDA of $48.6 million, reflects a 20-basis point Adjusted EBITDA margin expansion and year-over-year growth of 14.1%.

Company Provides Second Quarter Guidance

  • Second Quarter Total Revenue of $610 – $650 million, and Adjusted EBITDA of $33 – $43 million.

Adjusted EBITDA is a non-GAAP measure. Refer to the “Non-GAAP Financial Measures” section for more information. The Company is not providing a quantitative reconciliation of its financial outlook for Adjusted EBITDA to net (loss), its corresponding GAAP measure, because the GAAP measure that is excluded from its non-GAAP financial outlook is difficult to reliably predict or estimate without unreasonable effort due to its dependence on future uncertainties, such as items discussed below. Additionally, information that is currently not available to the Company could have a potentially unpredictable and potentially significant impact on its future GAAP financial results.

BrightView Holdings, Inc. 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, 2022.

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“We are pleased to start fiscal 2023 with a strong first quarter, underpinned by robust organic revenue growth across both segments, acquisition benefits, disciplined cost management and a steadfast focus on executing our growth strategy to continue to drive…