In its first quarter results released Wednesday, BrightView Holdings reported a year-over-year total revenue decrease but an improvement in its net loss.
The company, which ranks as the top landscaping company in the industry, reported these unaudited results for the first quarter ended December 31, 2024. The total revenue decreased 4.4% to $559.2 million, adding that the dip stems from a strategic reduction of non-core businesses that was partially offset by increased revenue from core businesses.
Its net loss improved 36.6% to $10.4 million and its adjusted EBITDA increased 11.6% to $52.1 million.
Its year-to-date net cash provided by operating activities increased by over $34 million to $60.5 million, and its year-to-date adjusted cash inflow of $4.4 million is a decrease of $12.9 million compared to the $17.3 million in adjusted cash inflow last year.
BrightView ended up at $0.04 for its earnings per share, which came in at $0.02 in the same time period the previous year.
"We are off to a strong start to the fiscal year, fueled by the growing momentum of our evolving One BrightView culture,” says BrightView President and CEO Dale Asplund. “Our strong first quarter results position us to achieve our second consecutive full-year EBITDA record, while continuing to prioritize our employees and putting the customer at the center of everything we do. We are doing this while maintaining a continued focus on cash flow and our balance sheet, as evidenced by our recent term loan refinancing, which allows us to continue to reinvest in the business, explore acquisitions, and pave the way for sustainable, profitable growth.”