BrightView (BV) investor relations material

Executive summary

• Achieved 6.1% year-over-year revenue growth in Q2 FY26 to $702.9 million, with land maintenance revenue up 4% and record adjusted EBITDA of $79.1 million at an 11.3% margin.

• Net income declined to $1.7 million, with net income margin at 0.2%, impacted by higher costs and a drop in Development Services.

• Customer retention improved to approximately 85%, with contract book up 3% year-over-year and employee turnover down 35% since FY24.

• Accelerated investments in sales force and frontline employees are fueling contract book growth and market share gains.

• Full-year revenue guidance was raised, and 1.1 million shares were repurchased in Q2 FY26.

Financial highlights

• Q2 FY26 revenue reached $703 million, up 6.1% year-over-year, with land revenue up 4%, snow revenue up 30% to $222 million, and development services revenue at $150 million.

• Record Q2 adjusted EBITDA of $79.1 million, up 7.6% year-over-year; maintenance segment margins expanded by 110 basis points to 12.5%.

• Adjusted net income for Q2 was $13.3 million, with adjusted EPS of $0.09; net income for Q2 was $1.7 million.

• Adjusted free cash flow for six months was negative $24.5 million, reflecting higher capital expenditures.

• Cash and cash equivalents at March 31, 2026 were $10.1 million; long-term debt stood at $823.9 million.

Outlook and guidance

• FY26 revenue guidance raised to $2.745–$2.795 billion, with land maintenance revenue growth expected at 2–3% and snow revenue guidance increased to ~$290 million.

• Adjusted EBITDA guidance reaffirmed at $363–$377 million; adjusted free cash flow guidance at $100–$115 million.

• Margin guidance implies a 300 basis point improvement over three years.

• Development services revenue expected to decline 5% to flat.

• Management expects sufficient liquidity for obligations, working capital, debt service, capital spending, and share repurchases.