BrightView Holdings, Inc. - BV STOCK NEWS

BrightView Holdings reported total revenue of $747.4 million for Q3 2022, a year-over-year increase of 11.0%, driven by 5.6% organic growth and 14% growth in development services. However, net income declined to $10.8 million from $25.2 million in the prior year. Adjusted EBITDA rose slightly to $94.3 million with a margin of 12.6%. For the full year, revenue guidance is set between $2,762 - $2,782 million. The company faces increased costs due to inflation and fuel prices, affecting margins.

BrightView (NYSE: BV) is working with Major League Baseball to prepare the MLB Field of Dreams game, scheduled for August 11, 2022, in Dyersville, Iowa. This iconic event continues the partnership that began in 2019, focusing on maintaining high-standard facilities for the game. BrightView has laid 100,000 square feet of sod, excavated 30,000 cubic yards of material, and installed various features to ensure an optimal baseball experience. The project highlights BrightView's commitment to quality, with a dedicated local team managing the field during the event.

BrightView (NYSE: BV) has announced the purchase of 100 electric Chevrolet Bolt EUVs as part of its commitment to sustainability and carbon reduction. This addition increases its electric and hybrid vehicle count to nearly 400 out of a total fleet of 11,000 vehicles. The company aims to convert all its 3,000 field managers' vehicles to electric and hybrid by 2025, aiming to achieve carbon neutrality by 2035. BrightView's initiatives also include converting landscaping equipment to battery power and utilizing smart technology for irrigation.

BrightView Holdings, Inc. (NYSE: BV) will host its third quarter fiscal year 2022 earnings conference call on August 4, 2022, at 10 a.m. EDT. This call will provide insights into the company's financial performance, following the release of its third quarter results. The conference can be joined via a North American dial-in number of (844) 200-6205 or an international number of (929) 526-1599. A replay will be available until August 11, 2022. BrightView remains committed to delivering landscaping and snow removal services across the United States.

BrightView (NYSE: BV), a leader in commercial landscaping, announced the acquisition of SGS Hawaii, enhancing its presence in the Hawaiian resort sector. SGS Hawaii, founded in 1995, specializes in environmentally friendly landscaping services for hotels and resorts using electric equipment. This acquisition aligns with BrightView’s growth strategy and commitment to sustainability. SGS Hawaii is the second Hawaiian firm acquired by BrightView this year, following the acquisition of Performance Landscapes in January.

BrightView, the leading commercial landscaping services provider in the U.S. (NYSE: BV), announced participation in two upcoming investor conferences in New York City. Management will conduct a fireside chat on June 7 at 10:15 am ET during the Baird 2022 Global Consumer, Technology & Services Conference, and another on June 8 at 8:00 am ET at the UBS Global Industrials & Transportation Conference. Live webcasts and replays will be available on BrightView’s investor website.

BrightView (NYSE: BV) has introduced a comprehensive hurricane preparedness checklist aimed at assisting businesses and homeowners in safeguarding their landscaping against severe weather. Key recommendations include tree pruning to remove weak branches and pre-authorizing clean-up plans post-storm. Charles Gonzalez, a senior vice president with over 30 years in landscaping, emphasizes proactive measures to mitigate property damage. With extensive experience in hurricane recovery, BrightView is poised to deliver swift responses in the aftermath of storms, aiding emergency crews and ensuring essential services remain operational.

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.