Brightview Holdings Stock Price, News & Analysis

BrightView (NYSE: BV) announces the retirement of Chief Financial Officer John A. Feenan, effective September 30, 2022. Brett Urban has been appointed as his successor, effective October 1, 2022. Urban has been with BrightView since 2016 and has played a key role in the company's financial operations, focusing on the Maintenance Services segment, which represents 75% of the company's results. The transition will include a Separation and Transition Services Agreement with Feenan to ensure continuity. Urban's leadership is expected to continue driving growth and shareholder value.

BrightView reported Q2 fiscal 2022 total revenue of $711.9 million, an increase of 9.2% from $651.9 million year-over-year. However, Net Income fell to $0.7 million, down from $6.3 million. Adjusted EBITDA decreased 10.6% to $59.7 million, with a margin drop to 8.4%. Despite a robust growth in Maintenance Land revenue (+8.1%), Maintenance Snow revenue declined to $196.4 million. Guidance for Q3 sees total revenue between $715 - $735 million. Share repurchases totaled over $161 million in FY 2022, reflecting confidence in long-term growth amidst inflationary pressures.

BrightView celebrates Arbor Day's 150th anniversary by partnering with the Arbor Day Foundation to plant 300,000 trees across the U.S. by March 2023. This initiative aims to restore ecosystems impacted by wildfire, deforestation, and invasive species, spanning nine states. BrightView plans to complement the efforts with over 80,000 trees and various plants annually, supporting vital forest ecosystems and enhancing air quality. The tree planting is crucial for a sustainable environment and reflects BrightView's commitment to environmental solutions.

BrightView Holdings, Inc. (NYSE: BV) will host its second quarter earnings conference call on May 5, 2022, at 10 a.m. EDT. The press release with detailed financial results will be issued before the call. Those interested can join by dial-in or through a webcast, with access codes provided. BrightView is the largest provider of commercial landscaping services in the U.S., employing around 20,000 personnel and serving a wide array of customers including corporate properties and healthcare facilities.

BrightView Holdings (NYSE: BV) announced a plan to repurchase 5.9 million shares at $12.33 each, totaling approximately $72.8 million. This represents a 6% discount from the March 11, 2022, closing price. The buyback will be funded through cash reserves and credit facilities, as part of the previously announced repurchase program initiated on December 6, 2021. The transaction is expected to conclude by April 4, 2022. CEO Andrew Masterman expressed gratitude towards MSD Partners for their long-term support.

BrightView Holdings, Inc. (NYSE: BV) has acquired TDE Group, a snow removal and landscaping company based near Detroit. This strategic acquisition marks the 34th addition to BrightView's portfolio, enhancing its operations in the Upper Midwest. TDE employs over 125 staff and caters to well-known clients, including auto manufacturers and the Detroit Metro Airport. Management anticipates that this partnership will provide growth opportunities for both employees and clients, expanding service offerings and reinforcing BrightView’s strong acquisition strategy.

BrightView Holdings, Inc. (NYSE: BV) has announced the acquisition of Intermountain Plantings, LLC, a commercial landscaping company based in Salt Lake City. The financial terms of the acquisition remain undisclosed. BrightView's CEO, Andrew Masterman, emphasized the strategic importance of the acquisition for enhancing operations in the Mountain West region. Intermountain Plantings employs over 340 team members and has a strong reputation in landscape development and maintenance, with nearly three decades of experience in the industry.

BrightView Holdings, Inc. (NYSE: BV) has acquired NatureScape LLC, enhancing its commercial landscaping services and expanding its market presence in Maricopa County, Arizona. The terms of the acquisition were not disclosed. BrightView's President, Andrew Masterman, emphasized the alignment of values between the two companies, while NatureScape's owner, Brian Smith, highlighted the increased opportunities for employees and improved client services. BrightView remains the largest commercial landscaping provider in the U.S., employing approximately 20,000 team members nationwide.

BrightView Holdings, Inc. (NYSE: BV) has acquired Winter Services Incorporated, a respected snow and ice management firm located in Ringwood, N.J. This acquisition allows BrightView to enhance its snow removal operations in the Tri-State Area. Winter Services adds 125 full-time employees, growing to 450 during peak snow seasons, and contributes advanced equipment and certified professionals to BrightView's offerings. The transaction's terms were not disclosed, but it signifies BrightView's strategy to expand its services and improve operational capabilities in the snow management sector.