BrightView Reports 3.6% Quarterly Revenue Decline as Adjusted Earnings Fall 33.3%
Key Facts
BrightView reported unaudited fourth-quarter and fiscal-year results on November 10, 2026, for the year ended September 30, showing quarterly revenue fell 3.6% to $677.3 million from $702.8 million a year earlier. Net income dropped 70.0% to $8.3 million from $27.7 million in the comparable period. Adjusted earnings per share fell to $0.18 from $0.27, a decline of 33.3%. According to Investing.com, earnings per share were $0.08 below analysts’ estimate of $0.26, while revenue missed the consensus estimate of $724.28 million. The stock closed at $11.43 on November 10, down 3.54% for the session; the reported premarket decline ahead of the following day’s session could not be verified through a reliable open source.
The divergence between the company’s two businesses was a key feature of the quarter: revenue from maintenance services rose 3.2% to $495.7 million, while development services revenue fell 17.8% to $184.2 million. BrightView attributed the $39.9 million decline in development revenue to lower project volumes, driven by the timing and mix of work. Chief Executive Dale Asplund said recurring landscape maintenance grew 3.3% in the quarter, as customer retention improved and investment in the sales team continued. This marked the third consecutive quarter of landscape maintenance revenue growth, the company said. But the expansion in this business was not enough to offset the contraction in development, leaving total quarterly revenue lower year over year.
Pressure extended to operating profitability, with adjusted earnings before interest, taxes, depreciation and amortization falling 11.6% to $100.3 million from $113.5 million in the year-earlier quarter. Its margin narrowed to 14.8% from 16.1%, a difference of 130 basis points. For fiscal 2026, revenue rose 1.5% to $2,712.6 million from $2,672.8 million in the prior year. Adjusted free cash flow, however, turned to an outflow of $2.2 million, after an inflow of $65.2 million in fiscal 2025. Net cash generated from operating activities was $184.7 million, compared with $291.8 million a year earlier.
The company said the macroeconomic environment weighed on its development services business, despite encouragement from improving underlying performance indicators. By contrast, it expects recurring landscape maintenance revenue to grow between 3% and 4% in fiscal 2027, alongside a return to adjusted earnings before interest, taxes, depreciation and amortization margin expansion. BrightView put total revenue for the coming fiscal year at between $2.535 billion and $2.720 billion, and adjusted earnings before interest, taxes, depreciation and amortization at between $335 million and $355 million. The top end of the revenue range is below analysts’ consensus estimate of $2.76 billion, according to Investing.com. The outlook for development remains tied to a weak macroeconomic environment and the timing and mix of projects, which the company cited as reasons for the business’s decline.
On the balance sheet, net debt was $1,013.9 million as of September 30, 2026, equal to 3.1 times adjusted earnings before interest, taxes, depreciation and amortization. BrightView is scheduled to discuss its quarterly and fiscal-year results on a conference call on November 11, 2026, at 8:30 a.m. Eastern time. The call gives the company an opportunity to present details of its performance and the fiscal 2027 outlook it announced. The results combine continued growth in recurring maintenance with a decline in development, alongside narrower margins and lower adjusted free cash flow during the year ended. No verified percentage for the stock’s movement before the November 11 session was available here.