BrightView Holdings, Inc. (NYSE: BV) (the “Company” or “BrightView”), the leading commercial landscaping services company in the United States, today reported unaudited results for the third quarter ended June 30, 2020.

“Our quarterly results highlight the resiliency of our contract-based business and reflect the positive underlying trends of our strong-on-strong acquisition strategy, cash generation and liquidity, and our on-going focus on working capital and reducing capital expenditures,” said Andrew Masterman, BrightView President and Chief Executive Officer. “Our services and results of operations continue to benefit from a designation as an essential service. Our team has done an incredible job responding to the COVID-19 crisis by prioritizing health and safety and by delivering solid results in a challenging operating environment.”

“Despite ancillary softness and project delays, COVID-19 impacts to date have been modest due to our resilient contract revenue base and our earnings have benefited from cost management actions. Cash generation remains exceptional, margins strong, our capex requirements are modest, and we expect our M&A pipeline to continue to be a reliable and sustainable source of revenue growth,” Masterman said.” “We expect COVID-19 impacts will be felt over the next few quarters as conditions remain fluid. That said, we believe we are in a strong position to generate near-term solid EBITDA results, continued strong cash generation and stable top line performance.”

Read the full report here.

BrightView Holdings, Inc. (NYSE:BV) (the “Company” or “BrightView”), the leading commercial landscaping services company in the United States, today reported unaudited results for the second quarter ended March 31, 2020.

“We are very pleased with our Landscape maintenance organic revenue growth of 1.9% in the quarter, which was the strongest since our 2018 IPO. Free Cash Flow remains robust and our Development Segment delivered its third straight quarter of double-digit revenue growth,” said Andrew Masterman, BrightView President and Chief Executive Officer. “Historically low snowfall in many of our key regions had an adverse impact on both revenue and Adjusted EBITDA, but we are encouraged by the growth trend on snow contracts. Further, our acquisition strategy continued to be a reliable and sustainable source of revenue growth. As an essential service as defined by the Department of Homeland Security, all branches are operational at this time, with only isolated limitations as to the scope of services we can provide, specifically in the city of Boston, New York City and the San Francisco Bay Area. Keeping our employees, their families and our customers safe is our number one priority. BrightView is well positioned to overcome potential headwinds due to the COVID-19 outbreak and emerge from this crisis a stronger company.”

Read the full report here.

As the largest provider of commercial landscaping services in the United States, BrightView is monitoring the COVID-19 outbreak closely. During this difficult time, BrightView remains committed to the health and safety of not just our nearly 22,000 team members, but of our many valued customers and the hundreds of communities across America in which we operate. In response to these events, we have made significant changes to operations across all of our service lines, following and often exceeding the recommendations of public health authorities. We are committed to helping keep essential services open and best caring for our customers’ living assets.

 

We thank you for your interest in BrightView and ask that you please take care of yourselves and one another.

 

Your friends at BrightView Landscapes

BrightView Holdings, Inc. (NYSE: BV) (the “Company” or “BrightView”), the leading commercial landscaping services company in the United States, today reported unaudited results for the first quarter ended December 31, 2019.

“We are pleased with our start to fiscal 2020. We saw another quarter of solid revenue growth in both operating segments and overall Adjusted EBITDA growth for the Enterprise. Our net new sales, which will benefit the upcoming ‘green’ maintenance season, are the highest ever generated; our development project bookings are ahead of last year’s pace and our strong-on-strong acquisition strategy already has to date added four companies with enough expected revenue impact to reach our full year fiscal 2020 targets,” said Andrew Masterman, BrightView President and Chief Executive Officer. “We also continue to make our planned investments in people and technology to support our sales and account manager teams, enhancing our customer relationships and driving both revenue growth and cash generation, that will drive continued value creation for our stockholders.”

Read the full report here.

BrightView Holdings, Inc. (NYSE: BV), the leading commercial landscaping services company in the United States, today announced that Amanda Orders, Senior Vice President of Human Resources for the company’s

Maintenance Services segment, has been promoted to Executive Vice President and Chief Human Resources Officer, effective today.

Orders will serve on the company’s Executive Leadership Team and report directly to President and Chief Executive Officer Andrew Masterman.

“Mandy is an exceptional human resources executive, leader, and tireless advocate for our nearly 21,500 team members across the nation,” Masterman said. “She has made significant contributions in every dimension of human resources for this company and will be a great addition to senior leadership.”

Orders will be responsible for the overarching BrightView People Strategy, which includes talent acquisition, compensation, benefits management, career development, performance management, succession planning, equity administration, retention, training, and leadership and organizational development across all BrightView service lines.

Orders started with the company in 2012 as Human Resources Vice President.  She was promoted to Senior Vice President of Human Resources for Maintenance Services in 2016. Orders was a key contributor to the Brickman/ValleyCrest merger that created BrightView in 2014, and has played a central role in GROW, an internal advocacy program for the women of BrightView.

Prior to joining BrightView, Orders held leadership positions in Human Resources at Alliance Data, a leading provider of co-branded affinity credit cards, and the ScottsMiracle-Gro Company, the world’s leading marketer of consumer lawn and garden products. 

Orders, a graduate of the Ohio State University’s Fisher College of Business, will work out of the company’s headquarters campus in Blue Bell, Pa.

BrightView Holdings, Inc. (NYSE: BV) (the “Company” or “BrightView”), the leading commercial landscaping services company in the United States, today reported unaudited results for the fourth quarter and audited results for the full fiscal year ended September 30, 2019.

“Our strategic initiatives, designed to establish a base for sustainable, long-term growth, began delivering results in fiscal 2019. Underlying commercial landscaping revenue grew in the fourth quarter and full year, despite facing significant weather-related challenges across many key markets. And we continued executing our Strong-on-Strong M&A strategy while reducing our Net Debt. Nonetheless, we fell short of some of our full year targets and are working hard to deliver on the long-term potential of our business, beginning with fiscal 2020,” said Andrew Masterman, BrightView President and Chief Executive Officer. “We will build on our 2019 successes, including (a) the sequential revenue improvement in underlying commercial landscaping, (b) the excellent results that our Development Segment generated in the second half of 2019 with strong bookings going into 2020, and (c) the reliable revenue growth that our M&A pipeline, once again, delivered. We will also maintain our targeted plans to invest in technology to support our sales and account manager teams, enhancing our customer relationships and driving both revenue growth and cash generation, which we believe are the cornerstones of stockholder value.”

Read the full report here.

BrightView Holdings, Inc. (NYSE: BV) (the “Company” or “BrightView”), the leading commercial landscaping services company in the United States, today reported unaudited results for the third quarter and nine months ended June 30, 2019.

“Today we are reporting the highest quarterly revenue and adjusted EBITDA results in BrightView’s history. Our Maintenance Services Segment increased its base contract revenue, demonstrating that we are pursuing the right strategy to build a strong foundation for sustainable, future organic growth. Our Development Services Segment capitalized on a robust book of business to deliver meaningful growth in both revenue and profitability, despite the challenging wet weather conditions faced by both segments throughout the quarter and across much of the country,” said Andrew Masterman, BrightView President and Chief Executive Officer. “Moving forward, we will continue to invest in generating profitable, long-term growth. Results in our existing business are starting to show the benefits of our reorganized sales team and the initiatives we’ve implemented to “digitize” the Company by leveraging technology. Finally, our M&A pipeline remains attractive as we continue driving growth through our strong-on-strong acquisition strategy.”

Read the full report here.

BrightView Holdings, Inc. (NYSE: BV) (“the Company” or “BrightView”), the leading commercial landscaping services company in the United States, today announced the acquisition of Luke’s Landscaping, Inc. (“Luke’s”), and Desert Classic Landscaping (“Desert Classic”), both previously owned and operated by FirstService Residential, a subsidiary of FirstService Corporation (TSX: FSV; NASDAQ: FSV). Terms of the transaction were not disclosed.

Both Luke’s and Desert Classic are leading, single-source, year-round landscape service providers, offering a full suite of commercial landscaping solutions, including grounds management, landscape enhancement, irrigation, spray, and arbor services. Luke’s was founded more than 40 years ago and currently operates two branches in South Florida with nearly 250 employees, serving customers between Coral Springs and Miami. Desert Classic was established in 2002 and currently operates two branches with more than 250 employees serving customers across the entire valley area of Phoenix, Ariz.

“We are pleased to be strengthening our presence in two important evergreen markets: South Florida and Phoenix. I’d like to welcome the nearly 500 talented employees, and the customers they serve across both markets, to the BrightView family,” said Andrew Masterman, BrightView President and Chief Executive Officer. “Halfway through our third fiscal quarter, we are well-positioned to achieve our fiscal 2019 target for realized acquired revenue, as well as our baseline target ‘wrap-around’ from acquired revenue for fiscal 2020. We look forward to working with both teams to continue delivering the intense customer focus that our customers have come to expect from BrightView.”

About FirstService Corporation

FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America’s largest manager of residential communities; and FirstService Brands, one of North America’s largest providers of essential property services delivered through individually branded franchise systems and company-owned operations.

FirstService generates approximately $2 billion in annual revenues and has more than 20,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The common shares of FirstService trade on NASDAQ and the Toronto Stock Exchange under the symbol “FSV.”

BrightView Holdings, Inc. (NYSE: BV) (the “Company” or “BrightView”), the leading commercial landscaping services company in the United States, today reported unaudited results for the second quarter ended March 31, 2019.

“Strong Maintenance Segment revenue and profitability highlighted our second quarter results and drove growth at the consolidated level. In fact, we delivered one of our best ever March quarters, with notable performance in Adjusted EBITDA and Adjusted EBITDA margin. In addition to gains in our Maintenance business, the quarter included lower corporate expenses, and more normalized levels of snowfall,” said Andrew Masterman, BrightView President and Chief Executive Officer. “With the beginning of the ‘green’ season, we’re pleased with the trends in our Maintenance landscape revenue and have built a robust book of business for the remainder of the fiscal year in our Development Segment. We remain confident in our full-year outlook and are maintaining our guidance ranges for both total revenue and Adjusted EBITDA for the full-year fiscal 2019.”

Read the full report here.

BrightView Holdings, Inc. (NYSE: BV) (“BrightView”), the nation’s leading commercial landscaping services company, today announced the acquisition of Benchmark Landscapes, LLC, a commercial landscaping company headquartered in Austin, Texas. Terms of the transaction were not disclosed.

Benchmark was founded in 2002 and today is a leading provider of commercial landscaping services in Texas, including landscape maintenance, design, installation, hardscapes, irrigation and tree care. Benchmark’s 240 employees cover a service area from Austin to San Antonio, inclusive of the San Marcos and New Braunfels areas, and Corpus Christi. The company operates six branches in four markets.

“With the acquisition of Benchmark, we expand our footprint in one of the country’s fastest-growing markets and bring passionate and skilled team members into the BrightView family,” said BrightView President and Chief Executive Officer Andrew Masterman. “This transaction further strengthens our position in Texas and supports our ‘strong-on-strong’ acquisition strategy.”

Benchmark founder and owner Casey Vickrey agreed that Benchmark represents a good fit for BrightView’s expanding portfolio. “I am proud of the business and relationships our team at Benchmark has built. We are excited to join the BrightView team and continue to grow the business, strengthen relationships and make new ones, all while taking care of the team that has been instrumental to making us who we are,” he said.

K&L Gates LLP served as legal advisor to BrightView; Shepherd Law LLC served as legal advisor to Benchmark.