BrightView Holdings (BV) Company Report

BrightView reported record Adjusted EBITDA of $352 million and a 13.2% margin for fiscal year 2025, representing an 8% increase in EBITDA and 150 basis point margin expansion year-over-year.
The company increased its share repurchase authorization from $100 million to $150 million, indicating a belief that its current valuation is dislocated from its progress and future opportunities.
For fiscal year 2026, BrightView expects revenue in the range of $2.67 billion to $2.73 billion, Adjusted EBITDA between $363 million and $377 million, and Adjusted free cash flow between $100 million and $115 million.
Strategic investments in fiscal 2025 included hiring approximately 100 new sellers and investing over $300 million in fleet refresh over the past two years, contributing to an improvement in customer retention to approximately 83%.
BrightView plans to prioritize share repurchases over M&A, as its stock is perceived to be undervalued (trading around 7x EBITDA) compared to potential acquisition targets (8x-10x).

Nov 20, 2025, 1:30 PM

Transcript

BV Announces Q4 and Full Year 2025 Results and Provides FY 2026 Guidance

Earnings

Guidance Update

Share Buyback

BV reported FY 2025 Adjusted EBITDA of $352.3 million, representing an approximate 8% increase compared to the prior year, accompanied by a 150 basis point margin expansion.
The company provided FY 2026 guidance, projecting Total Revenue between $2.670 billion and $2.730 billion, Adjusted EBITDA between $363 million and $377 million, and Adjusted Free Cash Flow between $100 million and $115 million.
On November 19, 2025, BV announced an increase in its share repurchase authorization to $150 million. During the fourth fiscal quarter of 2025, the company repurchased 513,163 shares at an average price of $14.62.
The Leverage ratio for FY 2025 remained stable at 2.3x, consistent with FY 2024.

Nov 20, 2025, 1:30 PM

Presentation

BrightView Reports Record FY 2025 Adjusted EBITDA and Provides Strong FY 2026 Guidance

Earnings

Guidance Update

Share Buyback

BrightView (BV) reported record adjusted EBITDA of $352 million and a 13.2% margin for fiscal year 2025, an 8% increase in EBITDA and 150 basis point margin expansion year over year.
For fiscal year 2026, the company issued guidance projecting revenue between $2.67 billion and $2.73 billion, adjusted EBITDA between $363 million and $377 million, and adjusted free cash flow between $100 million and $115 million.
Operational highlights include customer retention improving by 400 basis points since October 2023 to approximately 83%, and significant reductions in frontline employee turnover.
Strategic investments in fiscal year 2025 included adding approximately 100 new sellers and over $300 million in fleet refresh, reducing the average age of core production vehicles to five years and mowers to one year.
The company increased its share repurchase authorization from $100 million to $150 million, reflecting confidence in its valuation and growth outlook.

Nov 20, 2025, 1:30 PM

Transcript

BrightView Holdings Reports Q4 and FY 2025 Earnings, Provides 2026 Guidance, and Increases Share Repurchase Authorization

Earnings

Guidance Update

Share Buyback

BrightView Holdings, Inc. reported Q4 2025 net income increased by 8.2% to $27.7 million and Adjusted EBITDA increased by 7.9% to $113.5 million, despite a 3.6% decrease in total revenue to $702.8 million year-over-year for the three months ended September 30, 2025.
For the full fiscal year ended September 30, 2025, the company achieved a record Adjusted EBITDA of $352.3 million, an 8.5% increase year-over-year, and net cash provided by operating activities increased by 41.9% to $291.8 million.
The company provided Fiscal Year 2026 guidance, projecting total revenue between $2.670 billion and $2.730 billion (approximately 0% to +2% growth) and Adjusted EBITDA between $363 million and $377 million (+40 to +60 bps margin expansion).
BrightView Holdings, Inc. increased its existing share repurchase authorization to $150 million as part of its capital allocation strategy.

Nov 19, 2025, 9:15 PM

8-K

Brightview Holdings Inc. Announces Q3 2025 Results and Reaffirms Full-Year Guidance

Earnings

Guidance Update

Share Buyback

Brightview Holdings Inc. reported Q3 2025 total revenue of $708.3 million, a ~4% decrease compared to Q3 2024, while Adjusted EBITDA increased by ~5% to $113.2 million, with margin expanding by +140bps to 16.0%.
The company reaffirmed its full-year 2025 guidance, projecting total revenue between $2.68 billion and $2.73 billion, Adjusted EBITDA between $348 million and $362 million, and Adjusted Free Cash Flow between $60 million and $75 million.
Operational efficiencies, driven by the "One BrightView" strategy, contributed to margin expansion across all segments, and TTM Land Maintenance Customer Retention improved to ~82%.
During Q3 2025 (April 1, 2025 - June 30, 2025), the company repurchased 487,480 shares at an average price of $14.12 per share, with approximately $91.3 million remaining under the share repurchase program.

Aug 7, 2025, 12:30 PM

Presentation

BrightView Holdings, Inc. Updates Fiscal 2025 Financial Guidance

Guidance Update

Demand Weakening

Profit Warning

BrightView Holdings, Inc. updated its fiscal year 2025 financial guidance on July 1, 2025, revising its total revenue outlook downwards to $2.68 billion to $2.73 billion.
Despite the revenue adjustment, the company raised its Adjusted Free Cash Flow guidance to $60 million to $75 million and anticipates record Adjusted EBITDA and Adjusted EBITDA Margin performance for fiscal 2025.
The revision in revenue guidance is attributed to the uncertain macro-economic environment, including timing delays in development projects and reduced discretionary spending.

Jul 1, 2025, 12:00 AM

8-K

BrightView Holdings: Secondary Offering of Common Stock

On June 4, 2025, BrightView Holdings, Inc. entered into an Underwriting Agreement for an underwritten offering of 11,600,000 shares of its common stock.
The shares were sold by KKR BrightView Aggregator L.P. (the "Selling Stockholder") to the underwriters at a price of $14.40 per share.
BrightView Holdings, Inc. did not receive any proceeds from this offering.
The offering was completed on June 6, 2025.

Jun 6, 2025, 12:00 AM

8-K

BrightView Reports Q2 2025 Earnings, Raises Full Year Guidance, and Announces Share Repurchase Program

Earnings

Guidance Update

Share Buyback

BrightView Holdings, Inc. reported record Adjusted EBITDA of $73.5 million for the second quarter of fiscal 2025, a 13.4% increase year-over-year, despite a 1.5% decrease in net service revenues to $662.6 million.
The company raised its fiscal year 2025 guidance for Adjusted EBITDA to $345 - $365 million and Adjusted Free Cash Flow to $50 - $70 million. Total Revenue guidance remained unchanged at $2.750 - $2.840 billion.
BrightView announced a $100 million share repurchase program.
As of March 31, 2025, the company's Total Net Financial Debt was $718.6 million, with a Total Net Financial Debt to Adjusted EBITDA ratio of 2.1x.

May 7, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for BrightView Holdings.

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