NYSE$BV

BrightView Holdings Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Reported first quarter fiscal 2021 results, reflecting solid contract-based business and Adjusted EBITDA growth combined with meaningful margin expansion.

BrightView reported a decrease in total revenue to $554.4 million, driven by a decrease in Development Services revenues. Net Loss was $12.0 million. Adjusted EBITDA increased to $52.4 million. The company completed four acquisitions since the beginning of fiscal 2021, with approximately $80 million in annualized revenue.

  • Total revenue was $554.4 million compared to $570.7 million in the prior year.
  • Net Loss was $12.0 million compared to $12.6 million in the prior year.
  • Adjusted EBITDA was $52.4 million compared to $51.7 million in the prior year.
  • Completed four acquisitions since the beginning of fiscal 2021, with approximately $80 million in annualized revenue.

Headline financials

Total Revenue

$554M

Previous: $571M-2.9%
EPS (adj)

$0.12

Previous: $0.10+20.0%
Adjusted EBITDA

$52.4M

Previous: $51.7M+1.4%
Adjusted EBITDA Margin

9.5%

Previous: 9.1%+4.4%
Maintenance Adjusted EBITDA

$49.6M

Previous: $47.7M+4.0%
Maintenance Adjusted EBITDA Margin

11.9%

Previous: 11.4%+4.4%
Capital Expenditures

-$9.7M

Previous: -$14.5M+33.1%
Free Cash Flow

-$21.7M

Previous: -$27.1M+19.9%
Net Income

-$12M

Previous: -$12.6M+4.8%
Operating Income

-$3.6M

Previous: -$800K-350.0%
Gross Profit

$134M

Previous: $143M-6.6%
Cash & Equivalents

$81.6M

Previous: $10.3M+692.2%
Total Assets

$3.06B

Previous: $2.99B+2.4%

Revenue & EPS history

BrightView · Revenue · Quarterly

$554M

Q1 2021-2.9%vs Q1 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

BrightView · $555M total across 2 segments · Q1 2021

  • Maintenance Services
    $418M—
  • Development Services
    $137M—

Forward guidance

Provides second quarter fiscal 2021 guidance of $550 million to $600 million in Total Revenue and $44 million to $54 million in Adjusted EBITDA.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

-2.8%

Avg return

Earnings day

-3.3%

Avg return

5 days after

-1.2%

Avg return

30 days after

35%

11 / 31 earnings

Positive

+25.0%

Q2 2023

Best reaction

-17.9%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2025———
Q2 2026-1.4%+10.2%+4.3%
Q1 2026-7.0%-1.5%-6.8%
Q4 2025-0.8%+5.5%+7.4%
Q2 2025+8.5%+14.9%+14.1%
Q1 2025-6.6%-9.3%-23.1%
Q4 2024-14.0%-14.9%-8.3%
Q3 2024+10.5%+0.8%+14.4%
Q2 2024+11.5%+10.1%+22.8%
Q1 2024-2.3%-4.2%-2.7%
Q4 2023-6.9%-5.3%+8.8%
Q3 2023+0.9%+0.8%+4.9%
Q2 2023+25.0%+22.9%+37.3%
Q1 2023-15.3%-21.7%-25.8%
Q4 2022-16.7%-18.4%-26.8%
Q3 2022-17.9%-19.9%-26.4%
Q2 2022+3.1%-1.5%+7.1%
Q1 2022-6.6%-2.0%+0.7%
Q4 2021-9.8%-10.1%-13.2%
Q3 2021-1.7%-8.4%-2.5%
Q2 2021+3.1%-2.3%-3.5%
Q1 2021-1.1%-0.9%+8.7%
Q4 2020-6.1%-0.5%+0.9%
Q3 2020+2.0%+6.2%+1.5%
Q2 2020+1.1%+2.2%+27.5%
Q1 2020-4.8%-1.3%-14.7%
Q4 2019-12.4%-15.2%-13.2%
Q3 2019-4.7%-4.0%-1.9%
Q2 2019+1.3%-2.2%+10.5%
Q1 2019-13.5%-10.0%-4.8%
Q4 2018+12.0%+4.7%-17.1%
Q3 2018-15.2%-26.3%-16.7%
Q2 2018———
Q1 2018———
Q4 2017———
Q3 2017———
Q2 2017———
Q1 2017———
Q4 2016———
Q3 2016———
Q2 2016———
Q1 2016———
Q4 2015———
Q3 2015———

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