BrightView Holdings (NYSE: BV) reported Q1 EPS of $0.10, $0.01 better than the analyst estimate of $0.09. Revenue for the quarter came in at $570.7 million versus the consensus estimate of $548.36 million.

First Quarter Fiscal 2020 Highlights

• Total Revenues for the quarter were $570.7 million, an 8.5% increase versus the prior year, with 6.7% higher Maintenance Services Segment revenues and 13.7% higher Development Services Segment revenues;
• Net Loss of $12.6 million, or $(0.12) per share, and a net loss margin of 2.2%, compared to Net Loss of $8.8 million, or $(0.09) per share, and a net loss margin of 1.7%, in the prior year;
• Adjusted EBITDA of $51.7 million and Adjusted EBITDA margin of 9.1%, compared to Adjusted EBITDA of $50.1 million and Adjusted EBITDA margin of 9.5% in the prior year;
• Adjusted Net Income of $10.6 million, or $0.10 per share, compared to Adjusted Net Income of $10.4 million, or $0.10 per share, in the prior year.

“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.”

GUIDANCE:

BrightView Holdings sees FY2020 revenue of $2.465-2.525 billion, versus the consensus of $2.49 billion.

• Reaffirms full year fiscal 2020 guidance of $2,465 million to $2,525 million in Total Revenue and $312 million to $320 million in Adjusted EBITDA.

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