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Mar 31, 2022
BrightView Q2 2022 Earnings Report
BrightView reported second quarter fiscal 2022 results, with revenue increasing and net income decreasing compared to the prior year. The company completed four acquisitions and provided guidance for the third quarter and full year.
Key Takeaways
BrightView reported a 9.2% increase in total revenue to $711.9 million for the second quarter of fiscal 2022. However, net income decreased to $0.7 million from $6.3 million in the prior year. The company completed four acquisitions with approximately $82 million of annualized revenue.
Total revenue increased by 9.2% to $711.9 million compared to the prior year.
Maintenance Land organic revenue grew by 8.1% from the prior year.
Net income decreased to $0.7 million compared to $6.3 million in the prior year.
Adjusted EBITDA decreased to $59.7 million compared to $66.8 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
BrightView provided guidance for the third quarter and full year of fiscal 2022.
Positive Outlook
- Third Quarter Total Revenue of $715 - $735 million
- Third Quarter Adjusted EBITDA of $94 - $100 million
- Full Year Total Revenue of $2,730 - $2,770 million
- Full Year Adjusted EBITDA of $290 - $302 million
- Expected Maintenance Land organic growth of 3-4% in the second half of the fiscal year