The decrease was driven by a decrease of $47.3 million in snow removal services due to lower snowfall, net of $15.6 million from acquired businesses. The increases in Segment Adjusted EBITDA and Segment Adjusted EBITDA Margin were driven by decreases in materials and labor costs, inclusive of compensation-related costs.įor the fiscal year ended September 30, 2023, revenue in the Maintenance Services Segment decreased by $15.5 million, or 0.7%, from the 2022 period. Segment Adjusted EBITDA Margin increased 30 basis points to 15.7%, in the three months ended Septemfrom 15.4% in the 2022 period. The decrease was driven by a decrease of $12.6 million in underlying commercial landscape services, partially offset by $5.2 million revenue contribution from acquired businesses.Īdjusted EBITDA for the Maintenance Services Segment for the three months ended Septemincreased by $0.3 million to $81.7 million from $81.4 million in the 2022 period. Maintenance Services - Operating Highlightsįor the fourth quarter of fiscal 2023, revenue in the Maintenance Services Segment decreased by $7.7 million, or 1.5%, from the prior year. These increases were partially offset by a $62.9 million decrease in organic snow removal services revenue year-over-year. These increases were partially offset by a $12.9 million decrease in Maintenance organic revenue year-over-year.įor the fiscal year ended September 30, 2023, total revenue increased 1.5% to a record $2,816.0 million, driven by $61.1 million revenue contribution from acquired businesses, or 2.2% of the total percentage increase year over year, and $47.8 million in Development Services, or 1.7% of the total percentage increase year over year. Refer to the "Non-GAAP Financial Measures" and "Reconciliation of GAAP to Non-GAAP Financial Measures" sections for more information.įor the fourth quarter of fiscal 2023, total revenue increased 2.8% to a record $743.7 million, driven by $26.7 million in Development Services, or 3.7% of the total increase year-over-year, and $5.2 million revenue contribution from acquired businesses, or 0.7% of the total increase year-over-year. Weighted average number of common shares outstanding – basicĪdjusted weighted average number of common shares outstandingĪdjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Free Cash Flow, Adjusted Earnings per Share and Adjusted weighted average number of common shares outstanding are non-GAAP measures. ($ in millions, except per share figures) (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 full fiscal year ended September 30, 2023. Additionally, information that is currently not available to the Company could have a potentially unpredictable and potentially significant impact on its future GAAP financial results.īLUE BELL, Pa., November 16, 2023-( BUSINESS WIRE)-BrightView Holdings, Inc. The Company is not providing a quantitative reconciliation of its financial outlook for Adjusted EBITDA to net income (loss), its corresponding GAAP measure, because the GAAP measure that is excluded from its non-GAAP financial outlook is difficult to reliably predict or estimate without unreasonable effort due to its dependence on future uncertainties, such as items discussed below. Refer to the "Non-GAAP Financial Measures" section for more information. Reduced full year Total Net Financial Debt to Adjusted EBITDA ratio to 2.9x compared to 4.8x in the prior year.Ĭompany Provides Fiscal Year 2024 Guidanceįiscal Year Total Revenue of $2.825 - $2.975 millionĪdjusted EBITDA is a non-GAAP measure. Fourth quarter total revenue increased 2.8% year-over-year to a fourth quarter record $743.7 million.įourth quarter net income increased 7.2% year-over-year to $16.4 million Net income margin expanded by 10 basis points.įourth quarter Adjusted EBITDA increased 11.3% year-over-year to a fourth quarter record $101.6 million Adjusted EBITDA margin expanded by 110 basis points.įull year net cash provided by operating activities increased 35.9% year-over-year to $129.9 million.įull year free cash flow increased $73.5 million year-over-year to $80.2 million.
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