BrightView Q4 Earnings Call Highlights BrightView logo MarketBeat Wed, November 11, 2026 at 1:15 PM EST 6 min read SI=F +1.34% GC=F -0.86% BV -14.26% Trade BV on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
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Fiscal 2027 outlook: BrightView forecasts revenue of $2.535 billion to $2.720 billion and adjusted EBITDA of $335 million to $355 million, with land maintenance revenue growing 3% to 4% while development revenue declines about 10% at the midpoint.
Maintenance gains offset development weakness: Land maintenance grew 3.3% in Q4, supported by improved customer retention and six consecutive quarters of positive net new sales. Development revenue fell 18% in Q4 amid weaker residential activity and delayed projects.
Margins and cash flow: The company expects at least 13% adjusted EBITDA margin, adjusted free cash flow of $110 million to $130 million, and margin expansion of 110 basis points in fiscal 2027; fuel costs and lower expected snow revenue remain headwinds.
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BrightView (NYSE:BV) expects its recurring land maintenance business to grow in fiscal 2027, even as a residential construction slowdown and project delays weigh on its development operations.
The landscaping company forecast total revenue of $2.535 billion to $2.720 billion for fiscal 2027 and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, of $335 million to $355 million. The outlook calls for land maintenance revenue growth of 3% to 4% and a roughly 10% decline in development revenue at the midpoint.
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For fiscal 2026, total revenue rose 1.5% to $2.7 billion, while adjusted EBITDA fell to $329 million from $352 million a year earlier. Chief Financial Officer Brett Urban said non-routine items, fuel costs and planned investment in the sales force offset stronger-than-expected contributions from the land business.
Land maintenance revenue rose approximately 2% for the full year and 3.3% in the fourth quarter, its third consecutive quarter of growth. President and Chief Executive Officer Dale Asplund said the business had contracted in both fiscal 2024 and 2025.
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Asplund attributed the improvement to better customer retention, lower employee turnover and investment in sales staff. The company reported six consecutive quarters of positive net new sales, a measure that helped expand its recurring contract book.
Customer retention reached approximately 84.5%, up 150 basis points from a year earlier, while frontline turnover improved by roughly 600 basis points. BrightView is working toward retention above 90% across its branches, Asplund said.
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In October, BrightView recorded more than $11.6 million in net new sales, its highest monthly figure in five years, according to Asplund. He described the company's 3% to 4% land growth forecast as "somewhat conservative," while noting that customers' spending on ancillary services could vary with economic conditions.
Urban said BrightView plans to invest approximately $9 million to $11 million in additional sales resources in fiscal 2027. Asplund said the company expects to add roughly 100 sellers during the year and could accelerate hiring if snow revenue exceeds its forecast.
Development revenue fell by $74 million to $715 million in fiscal 2026. Urban said lower residential activity, reduced project volumes and the timing and mix of project awards contributed to the decline.
The slowdown intensified in the fourth quarter, when development revenue declined 18%. Asplund said three large jobs, primarily on the West Coast, were delayed, pushing an anticipated $10 million to $12 million in revenue into future periods.
Residential and homeowners association-related development revenue declined by $30 million during the year, with half of that decrease occurring in the fourth quarter, Asplund said. He said the slowdown accelerated through September as demand weakened.
BrightView entered fiscal 2027 with approximately $800 million in development backlog. Asplund said the company typically sees an amount equivalent to roughly 90% of its backlog convert into revenue over the following 12 months, though he cautioned that residential construction and data center projects could introduce volatility.
The backlog included approximately $80 million in residential work and more than $40 million in data center projects. Urban said the company's guidance already assumes some residential backlog will not convert to revenue at the midpoint.
Development revenue could be flat or decline 10% to 20%, depending on project timing and market conditions, Urban said. He added that the company had not seen much change in the fourth-quarter slowdown early in fiscal 2027 and expects to narrow its guidance range as visibility improves.
Despite the volatility, Asplund said BrightView intends to keep growing development alongside its maintenance business, including by opening development operations in markets where it already provides maintenance. Its priority, he said, is to grow recurring land revenue faster.
BrightView expects an adjusted EBITDA margin of at least 13% in fiscal 2027, representing 110 basis points of expansion. Its outlook also calls for adjusted free cash flow of $110 million to $130 million and net capital expenditures of $100 million to $120 million.
Urban said a fiscal 2026 self-insurance adjustment accounted for about 60 basis points of margin pressure that the company does not expect to recur. He also cited land revenue growth, technology, fleet and procurement efficiencies as factors supporting the margin outlook.
Fuel remains a headwind. BrightView absorbed approximately $12 million in gross fuel costs in the second half of fiscal 2026 and offset about $4 million through measures including hedges and lower consumption, Urban said. The fiscal 2027 outlook assumes a further $4 million to $6 million fuel headwind in the first half.
Asplund said BrightView did not impose fuel surcharges on existing contracts in fiscal 2026, choosing to protect customer relationships. The company will seek to balance price increases against retention as contracts come up for renewal.
BrightView also expects snow revenue of $210 million to $230 million, based on its five-year average, compared with $293 million in fiscal 2026 after elevated snowfall in the Northeast and Midwest.
BrightView Holdings, Inc. provides commercial landscaping services in the United States. Its services include landscape maintenance, design and development, enhancements, and tree care for properties such as corporate campuses, residential communities, and public spaces. The company also provides snow and ice management and related services to help clients maintain their properties throughout the year. BrightView was formed in 2014 through the combination of landscaping businesses Brickman and ValleyCrest.
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