BrightView (BV) Q1 2026 earnings summary

Executive summary

• Total revenue for Q1/FY26 grew 2.6%-3% year-over-year to $615 million, driven by strong snow revenue and improved land contract metrics, but offset by declines in development services.

• Employee turnover improved by 30% over two years, and customer retention rose by 250-450 basis points to 83.5%.

• Adjusted EBITDA increased to $53.5 million, maintaining an 8.7% margin, while net loss widened to $15.2 million.

• Accelerated investment in sales force, adding 80 new sellers in Q1 and 180 over the past year, pacing ahead of hiring targets.

• Share repurchase activity increased, with 1.1 million shares repurchased in Q1 at a cost of $13.5-$14 million.

Financial highlights

• Q1/FY26 revenue: $614.7-$615 million, up 2.6%-3% year-over-year, with snow revenue up 110% due to heightened snowfall.

• Maintenance land revenue declined over 2% due to weather, while Maintenance Services revenue increased 6.6% to $436.4 million.

• Adjusted EBITDA for Q1/FY26 was $53.5 million, up 3% year-over-year, with margin expansion in development services.

• Adjusted net loss was $(2.2) million, while net loss widened to $15.2 million.

• Adjusted free cash flow was an outflow of $15.4 million, down from an inflow of $4.4 million in the prior year.

Outlook and guidance

• FY26 revenue guidance reaffirmed at $2.67-$2.73 billion, with adjusted EBITDA expected between $363-$377 million and margin expansion of 40-60bps.

• Maintenance land growth projected at 1%-2%, development growth flat to 2%, and snow revenue between $190-$220 million.

• Adjusted free cash flow guidance set at $100-$115 million.

• Liquidity remains strong, supported by cash flow from operations and available credit facilities.