Brightview Holdings Stock Price, News & Analysis

BrightView Holdings, Inc. (NYSE: BV) announced the acquisition of West Bay Landscape, enhancing its position in commercial landscaping. Although the transaction terms were undisclosed, West Bay is recognized as a key player in Central Florida's market, focusing on commercial landscape maintenance. CEO Andrew Masterman emphasized the strategic importance of this acquisition, while West Bay President Ron Sikkema noted the opportunities for service enhancement provided by BrightView's resources. This move could strengthen BrightView's market share and service capabilities.

BrightView Holdings, Inc. (NYSE: BV) has acquired Baytree Landscape Contractors, Inc., a full-service landscaping company based in Atlanta, Georgia. The terms of the deal were not disclosed. BrightView's President and CEO, Andrew Masterman, emphasized Baytree's strong reputation and success in landscape services, anticipating positive synergies from the acquisition. Baytree operates six locations and has over 370 employees. This move aims to enhance BrightView's presence in the Southeast and further strengthen its workforce.

BrightView reported a strong Q2 for fiscal 2021, with total revenue rising 16.6% to $651.9 million, driven by a 29.6% increase in Maintenance Services revenue. Net Income improved to $6.3 million, versus a $20.5 million loss last year. Adjusted EBITDA surged 71.7% to $66.8 million, showing a margin expansion to 10.2%. Despite challenges from COVID-19, the company remains optimistic about future growth and shareholder value creation.

BrightView Holdings, Inc. (NYSE: BV) will conduct its second quarter fiscal 2021 earnings conference call on May 6, 2021, at 10 a.m. EDT.

The detailed earnings report will precede the call. Interested parties can join via U.S. dial-in number (877) 273-7124 or international number (647) 689-5396. The conference will be hosted by CEO Andrew Masterman and CFO John Feenan. A recording of the call will be available until May 13, 2021. BrightView is known as the largest provider of commercial landscaping services in the U.S., serving a diverse range of clients.

BrightView Holdings, Inc. (NYSE: BV) announced the acquisition of Green Image, LLC (GTI), a leading landscaping entity based in Las Vegas. The acquisition, enhancing BrightView's presence in the western U.S., will add over 400 skilled team members to its operations. GTI, established in 2004, is known for its excellence in landscape maintenance and development. President and CEO Andrew Masterman highlighted the strategic advantage of GTI's experience in horticulture and engineering. No financial terms of the transaction were disclosed.

BrightView Holdings, Inc. (NYSE: BV) reported its first-quarter results for fiscal 2021, showing a 2.9% decrease in total revenue at $554.4 million year-over-year. Maintenance segment revenue remained stable, while development services revenue fell 10.1%. Despite a net loss of $12 million ($0.11 per share), adjusted EBITDA grew 1.4% to $52.4 million, marking a margin increase of 40 basis points. The company's acquisitions and cost containment strategies are seen as positive factors amidst ongoing COVID-19 challenges.

BrightView Holdings, Inc. (NYSE: BV) announced its first quarter fiscal 2021 earnings conference call scheduled for February 4, 2021, at 10 a.m. EST. Details will be released beforehand. Participants can join via designated U.S. and international numbers provided in the release. BrightView, the largest commercial landscaping service provider in the U.S., employs around 20,000 staff and serves various customers, including corporate properties and healthcare facilities. The call will feature CEO Andrew Masterman and CFO John Feenan, with a replay available until February 11, 2021.

BrightView Holdings, Inc. (NYSE: BV) announced the acquisition of Cutting Edge Property Maintenance, enhancing its commercial landscaping services portfolio. The transaction, whose terms remain undisclosed, brings over 110 skilled workers to BrightView from the Upper Midwest. Cutting Edge is recognized for its superior service and expertise in winter services, landscape maintenance, tree care, and irrigation. The acquisition aligns with BrightView's mission to provide comprehensive landscaping solutions across various market segments, reinforcing its position as a leader in the industry.

BrightView Holdings, Inc. (NYSE: BV) reported its fiscal Q4 and full-year results for 2020, revealing a 2.7% decrease in Q4 revenue to $608.1 million and a 2.4% decline in annual revenue to $2,346.0 million. The company faced a net loss of $6.1 million in Q4, compared to a net income of $25.1 million in the prior year. Adjusted EBITDA for the quarter was $90.0 million, slightly down from $91.9 million. BrightView generated strong cash flow, with Free Cash Flow up 61.9% to $77.4 million. The company anticipates continued challenges from COVID-19 but expects to return to positive growth in FY 2021.