BLUE BELL, PA — BrightView Holdings (NYSE: BV) raised its full-year revenue guidance after reporting higher second-quarter sales driven by growth in commercial landscaping and increased snow removal activity, even as quarterly net income declined.
The company reported second-quarter net service revenue of $702.9 million for the period ended March 31, up 6.1% from a year earlier. Commercial landscaping revenue increased 4%, marking the first year-over-year growth in the category since the third quarter of fiscal 2023, while snow removal revenue rose $49.1 million due to heavier snowfall during the quarter.
Net income fell to $1.7 million from $6.4 million a year earlier, while adjusted EBITDA increased to a quarterly record of $79.1 million from $73.5 million.
Dale Asplund indicated the quarter represented an “inflection point” for the company as it continued executing a broader operational transformation strategy focused on workforce investment, customer retention and sales expansion.
For the first six months of fiscal 2026, total revenue increased 4.4% to $1.32 billion. Maintenance Services revenue rose 9.9%, supported primarily by a 41.6% increase in snow removal revenue.
The company’s Development Services segment continued to weaken, however. Second-quarter revenue in the segment declined 13% year over year, which BrightView attributed to project timing and mix changes. Segment adjusted EBITDA fell to $9.6 million from $17.2 million a year earlier.
BrightView also reported weaker cash flow metrics during the first half of the fiscal year.
Net cash provided by operating activities declined to $82.3 million from $151.7 million a year earlier, while adjusted free cash flow shifted to a $24.5 million outflow from a positive $67 million in the prior-year period.
Capital expenditures increased to $113.5 million during the first six months of fiscal 2026, compared with $92.3 million a year earlier.
As of March 31, the company’s total net financial debt stood at $900.1 million, up from $802.9 million at the end of fiscal 2025. BrightView’s net debt-to-adjusted EBITDA ratio increased to 2.5x from 2.3x.
The company also disclosed that it repriced and extended its revolving credit facility during the quarter and repurchased approximately 1.1 million shares of common stock.
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