BrightView Holdings Files Q1 2025 10-Q

TL;DR

**BrightView Holdings Q1 2025 10-Q filed. Financials and ops update.**

AI Summary

BrightView Holdings, Inc. filed its 10-Q for the period ending December 31, 2024. The filing details financial performance and operations for the first quarter of fiscal year 2025. Key financial data and operational aspects are presented, with the company's principal executive offices located at 980 Jolly Road, Suite 300, Blue Bell, PA 19422.

Why It Matters

This filing provides investors with an update on BrightView's financial health and operational performance for the first quarter of fiscal year 2025, influencing investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that can reveal risks and opportunities, but it's a standard reporting requirement.

Key Numbers

• 2024-12-31 — Fiscal Year End (End of the reporting period for this 10-Q)
• 2025-02-05 — Filing Date (Date the 10-Q was submitted to the SEC)

Key Players & Entities

• BrightView Holdings, Inc. (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of the reporting period
• 2025-02-05 (date) — Filing date
• 980 Jolly Road, Suite 300, Blue Bell, PA 19422 (address) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, Par Value $0.01 Per Share BV New York Stock Exchang

Filing Documents

• bv-20241231.htm (10-Q) — 2042KB
• bv-ex10_1.htm (EX-10.1) — 105KB
• bv-ex10_2.htm (EX-10.2) — 106KB
• bv-ex31_1.htm (EX-31.1) — 16KB
• bv-ex31_2.htm (EX-31.2) — 15KB
• bv-ex32_1.htm (EX-32.1) — 7KB
• bv-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-25-014510.txt ( ) — 9114KB
• bv-20241231.xsd (EX-101.SCH) — 1174KB
• bv-20241231_htm.xml (XML) — 1666KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 6 Consolidated Balance Sheets 6 Consolidated Statements of Operations 7 Consolidated Statements of Comprehensive (Loss) 8 Consolidated Statements of Stockholders' Equity and Mezzanine Equity 9 Consolidated Statements of Cash Flows 10 Notes to Unaudited Consolidated Financial Statements 11 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 38 PART II. OTHER INFORMATION 39 Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 40

Signatures

Signatures 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Form 10-Q") contains "forward-looking statements" within the meaning of the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the "safe harbor" created by those sections. All statements, other than statements of historical facts included in this Form 10-Q, including statements concerning our plans, objectives, goals, beliefs, business outlook, business trends, expectations regarding our industry, strategy, future events, future operations, future liquidity and financial position, future revenues, projected costs, prospects, plans and objectives of management and other information, may be forward-looking statements. Words such as "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates," or "anticipates," and variations of such words or similar expressions are intended to identify forward-looking statements. The forward-looking statements are not historical facts, or guarantees of future performance and are based upon our current expectations, beliefs, estimates and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond our control. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. There are a number of risks, uncertainties and other important factors, many of which are beyond our control, that could cause our actual results to differ

—FINANCI AL INFORMATION

PART I—FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements. BrightView Holdings, Inc. Consolida ted Balance Sheets (Unaudited) (In millions, except par value and share data) December 31, 2024 September 30, 2024 Assets Current assets: Cash and cash equivalents $ 98.3 $ 140.4 Accounts receivable, net 390.0 415.2 Unbilled revenue 97.0 137.8 Other current assets 100.7 86.7 Total current assets 686.0 780.1 Property and equipment, net 400.3 391.9 Intangible assets, net 87.7 95.8 Goodwill 2,015.6 2,015.7 Operating lease assets 78.1 81.3 Other assets 39.9 27.0 Total assets $ 3,307.6 $ 3,391.8 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 122.5 $ 144.1 Deferred revenue 111.8 83.8 Current portion of self-insurance reserves 51.9 52.8 Accrued expenses and other current liabilities 168.5 237.7 Current portion of operating lease liabilities 24.6 24.9 Total current liabilities 479.3 543.3 Long-term debt, net 796.5 802.5 Deferred tax liabilities 43.4 43.9 Self-insurance reserves 120.6 112.8 Long-term operating lease liabilities 59.6 62.6 Other liabilities 35.6 44.3 Total liabilities 1,535.0 1,609.4 Mezzanine equity: Series A convertible preferred shares, $ 0.01 par value, 7 % cumulative dividends; 500,000 shares issued and outstanding as of December 31, 2024 and September 30, 2024, aggregate liquidation preference of $ 512.0 as of December 31, 2024 and September 30, 2024 507.1 507.1 Stockholders' equity: Preferred stock, $ 0.01 par value; 50,000,000 shares authorized; no shares issued or outstanding as of December 31, 2024 and September 30, 2024 — — Common stock, $ 0.01 par value; 500,000,000 shares authorized; 109,200,000 and 108,200,000 shares issued and 95,500,000 and 94,800,000 shares outstanding as of December 31, 2024 and September 30, 2024, respectively 1.1 1.1 Treasury stock, at

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) (In millions, except per share and share data) 1 . Business BrightView Holdings, Inc. (the "Company" and, collectively with its consolidated subsidiaries, "BrightView") provides landscape maintenance and enhancements, landscape development, snow removal and other landscape related services for commercial customers throughout the United States. BrightView is aligned into two reportable segments: Maintenance Services and Development Services. Basis of Presentation These consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim reporting and are unaudited. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments, including normal, recurring accruals that are necessary for a fair presentation of the Company's operations for the periods presented in conformity with GAAP. All intercompany activity and balances have been eliminated from the consolidated financial statements. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year. The Consolidated Balance Sheet as of September 30, 2024, presented herein, has been derived from the Company's audited consolidated financial statements as of and for the fiscal year ended September 30, 2024, but does not include all disclosures required by GAAP, for annual financial statements. For a more complete discussion of the Company's accounting policies and certain other information, refer to the audited consolidated financial statements and the notes thereto included in the Company's annual report on Form 10-K for the fiscal year ended September 30, 2024 , filed with the Securities and Exchange Commission ("SEC"). Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP

View Full Filing

View this 10-Q filing on SEC EDGAR