BrightView Holdings, Inc. - BV STOCK NEWS

BrightView Holdings, Inc. (NYSE: BV) announced a buyback of 5.9 million shares from MSD Partners at $13.98 per share, totaling approximately $82.5 million. This transaction represents a 2% discount compared to the closing price on December 7, 2021, and accounts for half of MSD Partners' stake in BrightView. The repurchase will be funded through existing cash and credit facilities, with completion anticipated in January 2022. This action aligns with BrightView's share repurchase program initiated on December 6, 2021.

BrightView Holdings has announced a $250 million share repurchase program authorized by its Board of Directors. This initiative aims to facilitate ongoing investments while utilizing moderate leverage and enhancing shareholder value. The program is effective immediately and allows for repurchases through various methods, including open-market transactions and accelerated buybacks. It supports BrightView's established mergers and acquisitions strategy, which has seen the company acquire 29 landscape services firms since 2017, strengthening its market position as the largest commercial landscaping provider in the U.S.

BrightView reported a strong fourth quarter for fiscal 2021, achieving total revenue of $673.7 million, a 10.8% increase from $608.1 million the previous year. The company improved from a net loss of $6.1 million to a net income of $26.8 million. Full-year revenue reached $2.553 billion, an 8.8% rise year-over-year. Adjusted EBITDA stood at $302.3 million, up 11.3%, with significant contributions from Maintenance Services. The company completed eight acquisitions in FY21, generating $158.6 million in annualized revenue. Q1 2022 guidance indicates revenue between $570 million and $600 million.

BrightView Holdings, Inc. (NYSE: BV) is set to hold its fourth quarter and fiscal year 2021 earnings conference call on November 17, 2021, at 10 a.m. EST. A press release outlining the company's financial results will be available prior to the call. Investors can join the call via designated North American and international dial-in numbers. BrightView is recognized as the largest provider of commercial landscaping services in the U.S., employing around 20,000 individuals to service various sectors including corporate properties and public institutions.

BrightView Holdings (NYSE:BV) will conduct its 2021 Virtual Investor Day on September 21, 2021, at 9 a.m. EDT. The event will feature presentations from key executives, including President & CEO Andrew Masterman, CFO John Feenan, and other senior leaders. Participants can join via a webcast or phone. BrightView is the largest provider of commercial landscaping services in the U.S., employing around 21,000 staff to serve various sectors including healthcare, hospitality, and education.

BrightView Holdings, Inc. (NYSE: BV) will host a Virtual Investor Day on September 21, 2021, at 9 a.m. EDT. CEO Andrew Masterman and CFO John Feenan will lead the event with key executives, including Tom Donnelly, Jamie Gollotto, and Amanda Orders, presenting their insights. The agenda, registration, and webcast details will be released later. BrightView is the largest commercial landscaping service provider in the U.S., employing around 20,000 individuals and offering diverse landscaping services to a variety of clients, including major corporations and healthcare facilities.

BrightView reported strong Q3 results for fiscal 2021, with total revenue of $673.6 million, up 10.8% year-over-year, primarily driven by a 15.0% increase in Maintenance revenue to $524.6 million. Net income surged to $25.2 million or $0.24 per share compared to a loss in the prior year. Adjusted EBITDA rose 2.9% to $93.6 million despite a decrease in Adjusted EBITDA margin. The company generated $37.3 million in free cash flow. Challenges included a 1.6% decline in Development revenue.

BrightView Holdings, Inc. (NYSE: BV) will host its third quarter fiscal 2021 earnings conference call on August 5, 2021, at 10 a.m. EDT. The call will feature President and CEO Andrew Masterman and CFO John Feenan. Participants can join via U.S. dial-in (877) 273-7124 or international dial-in (647) 689-5396, using conference ID 9518947. The replay will be available until August 12, 2021. BrightView is the leading provider of commercial landscaping services in the U.S., employing approximately 20,000 individuals and serving diverse sectors including healthcare and hospitality.

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.