BrightView Holdings (NYSE: BV) reported Q2 EPS of $0.15, $0.02 better than the analyst estimate of $0.13. Revenue for the quarter came in at $596.6 million versus the consensus estimate of $597.88 million.

• Total revenue of $596.6 million, or 1.1% higher versus prior year
• GAAP Net Loss of $3.6 million, or ($0.04) per share, Adjusted EBITDA of $61.1 million and Adjusted Net Income of $15.6 million, or $0.15 per share
• Adjusted EBITDA and Adjusted EBITDA margin were among the highest ever for the March quarter
• Reaffirms full year fiscal 2019 guidance of $2.4 billion to $2.47 billion in Total Revenue and $310 million to $318 million in Adjusted EBITDA

Second Quarter Fiscal 2019 Highlights

• Total Revenues for the quarter totaled $596.6 million, a 1.1% increase versus the prior year quarter, with 2.9% higher Maintenance Services Segment revenues and 5.4% lower Development Services Segment revenues;
• Net Loss of $3.6 million, or ($0.04) per share, and a net loss margin of 0.6%, compared to Net Loss of $22.1 million, or ($0.29) per share, and a net loss margin of 3.7%, in the prior year quarter;
• Adjusted EBITDA of $61.1 million, or 18.4% growth over the prior year quarter, with an Adjusted EBITDA margin of 10.2%, both of which were among the highest ever for the March quarter;
• Adjusted Net Income of $15.6 million, or $0.15 per share, compared to Adjusted Net Income of $7.6 million, or $0.10 per share, in the prior year quarter.

“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.”

GUIDANCE:

BrightView Holdings sees FY2019 revenue of $2.4-2.47 billion, versus the consensus of $2.4 billion.

For earnings history and earnings-related data on BrightView Holdings (BV) click here.