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Dec 31, 2023
BrightView Q1 2024 Earnings Report
BrightView reported first quarter fiscal 2024 results, reaffirmed 2024 guidance, and announced the sale of non-core business.
Key Takeaways
BrightView's first quarter fiscal 2024 saw a 4.5% decrease in total revenue to $626.7 million, but the company achieved a 13.2% decrease in net loss to $16.4 million and an adjusted EBITDA decrease of 3.9% to $46.7 million. The company reaffirmed its fiscal year 2024 guidance.
Total revenue decreased 4.5% year-over-year to $626.7 million.
Net loss decreased 13.2% year-over-year to $16.4 million, reflecting a 30-basis point improvement in net loss margin.
Adjusted EBITDA decreased 3.9% to $46.7 million, with adjusted EBITDA margin expansion of 10-basis points.
Free cash inflow of $17.3 million, an increase of $72.7 million compared to an outflow of $55.4 million in the prior year.
BrightView
BrightView
BrightView Revenue by Segment
Revenue by Segment
Maintenance Services Revenue
CapyFin.comDevelopment Services Revenue
CapyFin.com Forward Guidance
The company reaffirmed its fiscal year 2024 guidance.
Positive Outlook
- Total Revenue $2.825 - $2.975 billion
- Adjusted EBITDA $310 - $340 million
- Free Cash Flow $45 - $75 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income