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Jun 30, 2023
BrightView Q3 2023 Earnings Report
Reported solid third quarter results with topline growth, meaningful margin expansion, and continued improvement in free cash flow.
Key Takeaways
BrightView reported a 2.5% increase in total revenue year-over-year to $766.0 million. Net income increased by 55.6% to $16.8 million, and Adjusted EBITDA increased by 8.0% to $101.8 million. The company is focused on operational excellence and strategic initiatives to drive value creation and shareholder return.
Total revenue increased 2.5% year-over-year to $766.0 million.
Net income increased 55.6% year-over-year to $16.8 million, reflecting an 80-basis point expansion in Net income margin.
Adjusted EBITDA increased 8.0% to $101.8 million, with Adjusted EBITDA margin expansion of 70-basis points.
Year-to-date free cash inflow was $38.2 million, an increase of $55.2 million compared to an outflow of $17.0 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 provides fourth quarter and full year fiscal 2023 guidance.
Positive Outlook
- Fourth Quarter Total Revenue of $730 - $750 million.
- Fourth Quarter Adjusted EBITDA of $98 - $102 million.
- Full Year Total Revenue of $2.80 - $2.82 billion.
- Full Year Adjusted EBITDA of $295 - $300 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income