BrightView Holdings (NYSE: BV) reported Q4 EPS of $0.37, in-line with the analyst estimate of $0.37. Revenue for the quarter came in at $608.1 million versus the consensus estimate of $596.72 million.

Fourth Quarter Fiscal 2020 Highlights

• Net cash provided by operating activities of $83.2 million, an increase of 37.5% compared to $60.5 million in the prior year period.
• Free Cash Flow of $77.4 million, an increase of 61.9% compared to the prior year period of $47.8 million.
• Total revenue of $608.1 million; a 2.7% decrease compared to the prior year period of $624.8 million.
• Maintenance land revenue of $444.0 million; a 2.6% decrease compared to the prior year period of $455.7 million;
• Development revenue of $165.1 million, a 3.3% decrease compared to the prior year period of $170.7 million.
• Net Loss of $6.1 million, or $(0.06) per share, and a net loss margin of 1.0%, compared to Net Income of $25.1 million, or $0.24 per share, and a net income margin of 4.0%, in the prior year period.
• Adjusted EBITDA of $90.0 million and Adjusted EBITDA margin of 14.8%, compared to Adjusted EBITDA of $91.9 million and Adjusted EBITDA margin of 14.7% in the prior year period.

“Our fourth quarter and full year results highlight the continued resiliency of our contract-based business, reflect the positive underlying trends of our strong-on-strong acquisition strategy, and the benefits of the investments we are making in being a best-in-class maintenance services company. This quarter we delivered strong cash generation and liquidity, underpinned by 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. And our team continues to do an incredible job responding to the COVID-19 crisis by prioritizing health and safety, focusing on our client relationships, 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 benefitted from cost management actions. Cash generation remains healthy, margins strong, our capex requirements remain 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 continue to be felt over the next few quarters as conditions remain fluid. That said, we believe we are in a strong position to return to positive growth in fiscal 2021, with continued strong cash generation and solid Adjusted EBITDA results. And, we believe the digital, sales, training and other investments we are making in strengthening our business will drive long-term best-in-class performance.”

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