BrightView reveals third quarter financial recap

BrightView has reported unaudited results for the third quarter ended June 30, 2022.

The company reported the following results:

• Total revenue of $747.4 million, an 11.0% increase compared to $673.6 million in the prior year.
• Maintenance revenue of $561.8 million, a 7.1% increase compared to $524.6 million in the prior year.
  • Land revenue of $548.9 million compared to the prior year of $521.2 million.
  • Snow revenue of $12.9 million compared to the prior year of $3.4 million.
• Development revenue of $186.4 million, a 24.0% increase compared to $150.3 million in the prior year.
• Net Income of $10.8 million, compared to Net Income of $25.2 million, in the prior year; Net Income Margin of 1.4%, compared to prior year Net Income Margin of 3.7%.
• Adjusted EBITDA of $94.3 million, an increase of $0.7 million or 0.7% compared to Adjusted EBITDA of $93.6 million in the prior year; Adjusted EBITDA margin of 12.6%, a decrease of 130 basis points compared to Adjusted EBITDA margin of 13.9% in the prior year.
• Net cash provided by operating activities of $23.4 million and Free Cash Flow of $2.3 million.

For the full financial report, click here.