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BrightView Holdings, Inc. (NYSE: BV) is the United States' leading commercial landscaping services provider. With over 20,000 dedicated team members, BrightView offers a comprehensive suite of landscaping and snow services, ensuring high-quality, dependable solutions for thousands of clients nationwide.
From initial design to ongoing maintenance and enhancements, BrightView serves the entire lifecycle of a property’s landscape. The company operates through two primary segments: Maintenance Services and Development Services. Maintenance Services, which generate the majority of the company's revenue, are self-performed through a national branch network and are route-based, providing consistent, reliable care. Development Services focus on the sophisticated design, coordination, and installation of landscapes at high-profile corporate, athletic, and university complexes.
Since its formation in 2014, through the merger of Brickman and ValleyCrest, BrightView has been a trusted partner across various industries, including housing communities, corporate campuses, healthcare facilities, universities, retail establishments, and resorts. The company prides itself on fostering collaborative relationships with clients to drive mutual success.
BrightView is committed to delivering exceptional landscapes through its extensive capabilities, making it a single-source solution for landscape needs. The company's recent projects and achievements underscore its dedication to quality and client satisfaction.
- Recent News: BrightView recently sold U.S. Lawns, a franchised provider of commercial landscaping and snow removal services, to EverSmith Brands. This strategic move allows BrightView to focus more on its core operations while U.S. Lawns continues to grow under new ownership.
BrightView remains dedicated to innovative growth and excellence in the landscaping industry, leveraging its comprehensive services and experienced team to meet and exceed client expectations.
BrightView Holdings reported mixed Q4 and full-year 2024 results. Q4 revenue decreased 2.0% to $728.7M, while net income increased 56.1% to $25.6M. Q4 Adjusted EBITDA reached a record $105.2M, up 3.5%. Full-year revenue declined 1.7% to $2.77B, but net income improved significantly from a loss of $7.7M to a profit of $66.4M. Operating cash flow increased 58.3% to $205.6M. The company provided FY2025 guidance projecting revenue of $2.75-2.84B and Adjusted EBITDA of $335-355M. Total net financial debt decreased to $736.9M, with debt-to-EBITDA ratio improving to 2.3x.
BrightView Holdings (NYSE: BV), the leading U.S. commercial landscaping services company, announced its management team's participation in the upcoming Craig-Hallum Capital Group Alpha Select Conference. The event will take place on Tuesday, November 19, 2024, in New York City. Dale Asplund, President and CEO, and Brett Urban, Executive Vice President and CFO, will attend the conference, which will feature one-on-one and small group meetings. An updated investor presentation will be available on BrightView's investor website.
Azenta (NASDAQ: AZTA) has appointed three new independent directors to its Board: William Cornog (former head of KKR Capstone), Quentin Koffey (Founder of Politan Capital Management, owning 9.4% of Azenta), and Alan Malus (former Executive VP of Thermo Fisher). The company established a new Value Creation Committee to focus on long-term value creation, growth initiatives, and capital deployment. The committee will be chaired by William Cornog and includes the new directors along with CEO John Marotta and current director Martin Madaus. Azenta has also reaffirmed its full-year 2024 financial guidance previously announced on August 6th, 2024.
BrightView Holdings (NYSE: BV) announced it will release its fourth quarter and fiscal year 2024 earnings after market close on November 13, 2024. The company will host a conference call to discuss results on November 14, 2024, at 8:30 a.m. EST. CEO Dale Asplund and CFO Brett Urban will lead the call. The earnings presentation and webcast will be available on the company's investor website, with replay access until November 28, 2024.
BrightView, the leading commercial landscaping company in the US, is distributing pink hats to all 21,000 team members nationwide for Breast Cancer Awareness Month in October. This initiative aims to raise awareness, promote early detection, and support ongoing research.
The pink hats will serve as a visible symbol of solidarity as employees work in communities across the country. Amanda Orders, Executive Vice President and Chief Human Resources Officer at BrightView, emphasized the company's commitment to leveraging its national presence for impact.
In addition to the pink hat initiative, BrightView will make a charitable contribution to Susan G. Komen for the Cure, a leading organization dedicated to breast cancer research, education, and advocacy. This effort underscores BrightView's dedication to making a difference in the fight against breast cancer.
BrightView Holdings (NYSE: BV), the leading U.S. commercial landscaping services company, has announced a $9.0 million cash dividend on its Series A Preferred Stock. This dividend covers the period from June 30, 2024 to September 29, 2024, and will be paid on October 1, 2024 to holders of record as of September 15, 2024. This marks the third consecutive quarterly cash payment, demonstrating the company's balance sheet flexibility and commitment to avoid dilutive impact.
BrightView issued 500,000 shares of Series A Convertible Preferred Stock on August 28, 2023, for a total of $500 million. These shares are convertible into common stock at $9.44 per share and carry a 7.0% annual dividend, compounding quarterly, which can be paid in kind or cash at the company's discretion.
BrightView Holdings (NYSE: BV) reported Q3 fiscal 2024 results with total revenue decreasing 3.6% year-over-year to $738.8 million. However, net income increased 39.9% to $23.5 million, and Adjusted EBITDA rose 6% to $107.9 million. The company reaffirmed the midpoint of its full-year guidance for revenue, EBITDA, and margin, while raising free cash flow guidance. Key highlights include:
- Net income margin expansion of 100 basis points
- Adjusted EBITDA margin expansion of 130 basis points
- Year-to-date free cash flow of $120.2 million, an increase of $82.0 million
- Strengthened liquidity by refinancing Term loan and AR securitization facility
BrightView's CEO Dale Asplund noted progress with One BrightView initiatives and margin improvement across all segments for both Q3 and year-to-date results.
BrightView Holdings, Inc. (NYSE: BV) has announced its upcoming third quarter fiscal year 2024 earnings release and conference call schedule. The company will release its earnings results after market close on Wednesday, July 31, 2024. A conference call to discuss the results will be held the following morning, Thursday, August 1, 2024, at 8:30 a.m. EDT.
Investors can join the conference call using the provided dial-in numbers and access code. The call will be recorded and available for replay until August 15, 2024. Additionally, a live webcast of the call will be accessible on the company's investor website. BrightView's President and CEO Dale Asplund, along with EVP and CFO Brett Urban, will host the conference call and webcast.
BrightView Holdings (NYSE: BV), the leading commercial landscaping services firm in the U.S., has announced its participation in the CJS Securities 24th Annual New Ideas Summer Conference. Key members of the management team, including CEO Dale Asplund and VP of Finance Chris Stoczko, will represent the company.
The conference is scheduled for July 10, 2024, at 9:20 a.m. ET in White Plains, New York. Management will refer to an investor presentation available on BrightView's investor website.
BrightView Holdings announced an update to its receivables financing agreement, increasing the facility from $275 million to $325 million and extending its maturity to June 2027. The new structure includes an accordion feature allowing an additional $100 million increase in borrowing capacity. Improvements include better leverage-based pricing tiers, reduced interest margins, and fees for unused capacity. These adjustments are expected to save over $5 million in interest expenses annually. BrightView will also use excess cash to pay down $75 million of its debt under this facility, enhancing balance sheet flexibility and reducing costs.
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