BrightView Holdings reported fourth‑quarter results that fell short of analyst expectations, with revenue of $702.8 million versus the consensus estimate of $718.57 million and an adjusted earnings per share of $0.27 against the $0.32 forecast. The shortfall was driven by a 3.6% decline in total revenue, largely due to a 1.3% drop in Maintenance Services and an 8.2% decline in Development Services, the latter reflecting timing of project work and a slowdown in commercial landscape services.
Despite the revenue miss, the company posted a fourth‑quarter net income of $27.7 million, up 8.2% from the prior year, and an adjusted EBITDA of $113.5 million, a 7.9% increase. Adjusted EBITDA margin expanded to 16.1%, up 170 basis points year‑over‑year, as operational efficiencies and cost controls offset the revenue decline. Full‑year results showed net income of $56.0 million and adjusted EBITDA of $352.3 million, both higher than the prior year and exceeding the company’s earlier guidance.
Management highlighted that the record full‑year adjusted EBITDA and margin growth are a result of disciplined cost management and a favorable mix shift toward higher‑margin Development Services, even as the company continues to invest in its workforce and technology. CEO Dale Asplund said, "We delivered a second consecutive year of record Adjusted EBITDA and Adjusted EBITDA margin all while continuing to invest in our business," underscoring confidence in the company’s long‑term trajectory.
BrightView raised its fiscal 2026 revenue outlook to $2.67 billion–$2.73 billion, a modest increase from the prior guidance, and lifted its share‑repurchase authorization to $150 million. The guidance signals management’s belief that the company’s scale and operational improvements will support a return to top‑line growth in 2026, while the share‑repurchase program reflects confidence in the firm’s cash‑flow generation.
The company’s guidance and record margin expansion suggest that, although the quarter’s revenue and EPS fell short of expectations, BrightView’s underlying business model remains resilient. The focus on cost discipline, strategic investments, and a growing high‑margin service mix positions the company to capitalize on market opportunities in the coming year.
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