BrightView Holdings, Inc. reported a decline in financial performance for the second quarter of fiscal 2025, with net service revenues of $662.6 million, down 1.5% from $672.9 million in the same period last year. The decrease was primarily attributed to a $17.7 million drop in Maintenance Services revenues, which was partially offset by a $7.5 million increase in Development Services revenues. The company's gross profit also fell to $147.5 million, a decrease of 3.0% compared to the prior year, resulting in a gross margin of 22.3%.
In terms of profitability, BrightView experienced a net income of $6.4 million for the quarter, a significant decline from $33.7 million in the previous year. This resulted in a loss per share of $0.03, compared to earnings of $0.17 per share in the same quarter of 2024. The decline in net income was influenced by the absence of a $43.9 million gain from the divestiture of U.S. Lawns, which had positively impacted the previous year's results. Adjusted EBITDA, however, increased to $73.5 million, up from $64.8 million, reflecting improved operational efficiency.
Operationally, BrightView's Maintenance Services segment reported revenues of $492.8 million, down 3.5% year-over-year, while the Development Services segment saw revenues rise to $171.9 million, an increase of 4.6%. The company attributed the decline in Maintenance Services to strategic reductions in non-core businesses, although it noted an increase in snow removal services revenue. The overall employee headcount remained stable, with no significant changes reported.
Looking ahead, BrightView is focused on enhancing its operational efficiency and pursuing strategic acquisitions to bolster its market position. The company has initiated a share repurchase program, allowing for the repurchase of up to $100 million of its common stock, which it plans to execute over an extended period. Management remains optimistic about the long-term growth potential of the commercial landscaping sector, despite current market challenges, and is committed to leveraging its scale to drive future profitability.
About BrightView Holdings, Inc.
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