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Jun 30, 2024
BrightView Q3 2024 Earnings Report
Reported third quarter earnings with record EBITDA and reaffirmed midpoint of full year revenue, EBITDA, and margin guidance, and raised free cash flow guidance.
Key Takeaways
BrightView reported a 3.6% year-over-year decrease in total revenue to $738.8 million, but net income increased by 39.9% to $23.5 million. Adjusted EBITDA increased by 6% to $107.9 million. The company reaffirmed the midpoint of its Revenue, EBITDA and Margin guidance for fiscal 2024, while raising its Free Cash Flow guidance.
Total revenue decreased 3.6% year-over-year to $738.8 million.
Net income increased 39.9% year-over-year to $23.5 million, with a net income margin expansion of 100 basis points.
Adjusted EBITDA increased 6% year-over-year to $107.9 million, with an Adjusted EBITDA margin expansion of 130 basis points.
The company strengthened liquidity by refinancing its Term loan and AR securitization facility.
Revenue by Segment
Forward Guidance
BrightView reaffirmed the midpoint of its Revenue, EBITDA and Margin guidance for fiscal 2024, while raising its Free Cash Flow guidance.
Positive Outlook
- Total Revenue: $2.750 - $2.790 billion
- Adjusted EBITDA: $320 - $330 million
- Adj. EBITDA Margin: +100bps to +120bps
- Free Cash Flow: $65 - $80 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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