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 snowfall 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%.

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

• Net loss widened to $15.2 million, with adjusted EBITDA rising to $53.5 million and margin at 8.7%.

• Guidance for 2026 reaffirmed, targeting record adjusted EBITDA and continued operational improvements.

Financial highlights

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

• Maintenance land revenue declined by $8.9 million, mainly due to weather impacts and prior-year hurricane comparisons.

• Development segment revenue decreased 6.6%-7% year-over-year, attributed to project timing and mix.

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

• Share repurchases totaled $13.5–$14 million in Q1, doubling the quarterly average from 2025.

Outlook and guidance

• FY26 revenue guidance reaffirmed at $2.67–$2.73 billion, with adjusted EBITDA expected between $363 million and $377 million.

• Adjusted EBITDA margin expansion of 40–60bps anticipated.

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

• Adjusted free cash flow guidance set at $100–$115 million, with ample liquidity for continued reinvestment.