BrightView Holdings Reports Strong Second Quarter Growth, Boosts Cash Flow Guidance

BrightView Holdings

BLUE BELL, PA — BrightView Holdings, Inc. (NYSE: BV), a leading landscape services company, has announced significant gains in its fiscal second quarter ending March 31, 2024. The company’s total revenue saw a 3.5% increase from the previous year, rising to $672.9 million. More notably, net income surged by 253% to $33.7 million, marking substantial profitability improvements.

The company also reported an 840 basis-point increase in net income margin and a 38.5% rise in adjusted EBITDA to $64.8 million, indicating enhanced operational efficiency. Furthermore, BrightView’s year-to-date net cash from operating activities grew by $54.5 million to $109.5 million, with free cash flow up $73.5 million to $89.4 million. A significant part of this financial uplift came from a $43.9 million gain on the sale of its non-core U.S. Lawns Business.

President and CEO Dale Asplund attributed these positive outcomes to the company’s strategic focus on profitable growth and a unified market approach under the “One BrightView” initiative. These strategies have not only improved revenue and EBITDA growth but also expanded margins. With the company adjusting its free cash flow guidance upwards, BrightView is signaling confidence in its financial health and operational strategy moving forward. This boost, driven by investing in employees, customer prioritization, and streamlining operations, positions BrightView for continued success in servicing its clientele more effectively.

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