BrightView reports Q1 EPS 2c, consensus 4c

Reports Q1 revenue $626.7M, consensus $645.1M. “I am pleased to report that we are off to a solid start to fiscal 2024 as we achieved meaningful progress on our objectives outlined under One BrightView,” said CEO Dale Asplund. “A continued focus on profitable growth in our core business, another quarter of strong performance converting our Development backlog, and execution of our cost efficiency plans led to EBITDA margin expansion for the quarter. We remain confident in our ability to execute our strategic initiatives and are encouraged by the momentum driving our business. Given these trends, we are reaffirming our guidance for fiscal 2024. Additionally, we announced the January divestiture of our non-core US Lawns franchise business. This strategic action aligns with our focus on the core business and will allow us to reinvest the proceeds back into the company.”