NYSE$BV

BrightView Holdings Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported record revenues for the fourth quarter and fiscal year 2022, anchored by land organic growth of 4.4%.

BrightView reported record revenues for the fourth quarter and fiscal year 2022. Total revenue increased by 7.4% to $723.4 million, driven by organic growth and acquisitions. Net income was $15.3 million, and adjusted EBITDA was $91.3 million.

  • Total revenue of $723.4 million, reflects growth of 7.4%, including 3.4% total organic growth.
  • Maintenance land organic revenue growth of 2.2%, sixth consecutive quarter of land organic growth.
  • Development organic revenue growth of 8.5%, reflecting solid recovery.
  • Net Income of $15.3 million compared to prior year of $26.8 million.

Headline financials

Total Revenue

$723M

Previous: $674M+7.4%
EPS (adj)

$0.37

Previous: $0.38-2.6%
Adjusted EBITDA

$91.3M

No prior period
Adjusted EBITDA Margin

12.6%

No prior period
Capital Expenditures

$19.2M

Previous: $16.5M+16.4%
Free Cash Flow

$22M

Previous: $96.7M-77.2%
Net Income

$15.3M

Previous: $26.8M-42.9%
Operating Income

$40.4M

Previous: $33.1M+22.1%
Gross Profit

$189M

Previous: $180M+4.7%
Cash & Equivalents

$20.1M

Previous: $124M-83.8%
Total Assets

$3.31B

Previous: $3.24B+2.1%
Stock-Based Comp

$4.9M

Previous: $4.3M+14.0%

Revenue & EPS history

BrightView · Revenue · Quarterly

$723M

Q4 2022+7.4%vs Q4 2021
Beat estimate in 6 of 16 quarters(38%)
ActualEstimate

Revenue by segment

BrightView · $727M total across 2 segments · Q4 2022

  • Maintenance Services
    $529M+4.8%
  • Development Services
    $198M+16.3%

Forward guidance

The Company Provides First Quarter Fiscal 2023 Guidance with Total Revenue of $610 - $640 million, and Adjusted EBITDA of $38 - $44 million.

Tailwinds

  • Underpinned by Maintenance and Development organic growth
  • Benefits from accretive M&A

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 Q4 2022

Historical avgQ4 2022

-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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